REPOSTING OF AN EXCERPT FROM THE POST THE LOOP THAT CAUSED TOO MUCH OF A GOOD THING TO GO BAD - UPDATED 11/26/2017

This excerpt from the Conservery Blog post THE LOOP THAT CAUSED TOO MUCH OF A GOOD THING TO GO BAD - UPDATED is being done for the cause of ONLINE (& ALL OTHER) IT-BASED SYSTEMS THAT AREN'T BEING MISUSED BY THOSE WHO USE SUCH METHODS.


Introduction:
This follow-up to the previous post “WHEN TOO MUCH OF A “GOOD” THING IS BAD!” is intended to document and quantify in a blow-by-blow account, the series of events that contributed to the mayhem that marred the SN Leader’s NASDAQ IPO as documented in that Daily/Weekend Business Street Publication from May 21, 2012.

Here are the Details:

1.    The central issue that occurred was a malfunction in the trading-systems’ design for processing order cancellations that occurred, which all the extensive testing ahead of the IPO failed to unearth.

2.    The malfunction resulted in a 30-minute delay in trading in the SN Leader’s shares and left NASDAQ indicating that is was planning a redesign of the IPO system, which current and former NASDAQ officials summarized as follows: “this isn’t our finest hour” and “this isn’t good for trust”. The timeline for these developments were as described below:

3.     Around 11:00 am, NASDAQ announced that there would be a 5-minute delay in the IPO, (which in itself is not abnormal). 

4.     However, 5 minutes came and went and no announcement was made about when the IPO would commence and at that point anxiety stared to build.

5.     Later NASDAQ indicated that it encountered a problem it hadn’t anticipated, relating matching up buy and sell orders to pinpoint the price of the first trade and as a result, it took 5 million seconds instead of 3 million seconds that it typically takes for such actions to complete.

6.     Compounding these problems were anxious traders who not being able get confirmation of their orders started canceling, which resulted in a domino effect that interfered with the process and caused it to reset. As a result, of this series of events, a loop was created that took NASDAQ officials 20 minutes to resolve and then set the stock to open at 11:30 am.

7.     This 30-minute glitch affected approximately 30 million shares and those who had attempted to place trades during that period didn’t find out the status of those transactions until 1:50 pm.  

The Outcome and Future Outlook:

This “black eye” for the NASDAQ OMX Group, didn’t help bolster their reputation as the center for such tech IPO deals as they had competed fiercely with rival NYSE Euronex for the chance to have this listing and has left the officials promising a complete redesign of its IPO systems and tried to highlight the outcome, namely the amount of investment funds raised overall. In addition, it has left a host of questions about how Wall Street carries out one of its most basic functions, raising capital for young companies, since this was the second technical “issues-filled” public offering in recent months for a major stock exchange boasting sophisticated electronic-trading systems (at the time of the article’s publication). The first was the BATS Global IPO that was botched on its own exchange, the BATS Global Markets that occurred in March 2012 that was blamed on a software glitch. These developments underscore the fact that regardless of how “well” prepared we may be, unanticipated developments can cause the best-laid plans to result in mayhem, because none of the NASDAQ’s pre-testing preceding the IPO revealed the problem that occurred that resulted in the loop. A loop in “software” circles is to be avoided at all costs, because when a loop is accessed it results in a continuous cycling action from, which escape is very difficult especially if not planned. As the SN Leader’s IPO fiasco demonstrated that there is a significant difference between a planned versus an unplanned loop in software as these tech self described “nerds” are very familiar with, which in itself adds irony to these undertakings. For a software-related glitch, (which an unplanned loop action can be described as), to circumvent (or “upend”) the “well planned” lPO (or big moment) of this “specific” “nerd” who in my opinion thought like the character on that Titanic movie that he was “on top of the world” in this Blogger’s opinion, at least when I was an active FB user before closing my presence there; must have been a “blow” to “his perception of himself”. I wonder if the wedding was really planned or if it was hastily thrown together to deflect from the fiasco? because the picture released appeared as if the two participants just decided to get married as a matter of fact (or better yet, after the fact). This is what these types of individuals who are accustomed to getting their way (or who have been led to believe that they can do whatever they choose), implement when events do not work out as expected, they plan pseudo events to keep their perception of themselves in the public’s “eye”. When we start to believe all the things (“praise”) others are just “lavishing” on us who are typically after some favor, rather than (accept who we are rather than assume the "complete background" of others and be "open-minded" enough to conclude that significant accomplishments can be undertaken by others and "I" don't have to "take over" everything belonging to another that "I" desire to make my "kingdom" larger and larger while pretending to be "all knowing"), such that "I" then have to resort to “publicity driven” events to “manage” those outcomes that don’t work out to show how “magnificent” "I" am; maybe this could then be a starting point for the development of "REAL" progress respecting others, the way in, which God intended as documented in the Conclusion section of the post THE AMENDMENT TO HONORING GOD AND RESPECTING OTHERS, PRACTICALLY - UPDATED. Furthermore, when complicated processes are planned, or are involved there are many avenues for unanticipated developments to take place and cause chaos to take place instead of the routine planned, similar to the circumstances those plant operators faced on March 28, 1979 [as documented in the post, NO INDIVIDUAL KNOWS THE FUTURE (EDITED)], and this should cause us to be mindful of the fact that everything and the lives of every individual can't be manipulated and managed to suite the whims of other individuals, less we forget that the proper balance is for us to be honoring God and respecting others instead of what takes place today, dishonoring God and disrespecting others as a NORMAL part of conducting business and the packaging such avenues of conducting business and duplicating them to enlarge our "empires", regardless of the manner in, which the income is derived as documented in the Conclusion section of the post FINDING CONTRIBUTORS FOR A MOGUL'S CHARITY, UPDATED.