The December 2022 issue of IEEE Spectrum is here!

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Last Thursday, another network problem affected the New York Stock Exchange (NYSE) just after it opened, Reutersreported. The problem lasted about twenty minutes, and less than 2000 securities were affected, NYSE told traders.

The NYSE told traders that "four matching engines" were affected and some customers did not receive acknowledgments for their orders. As a result, traders' orders that were pending were canceled.

I assume that this means the order-matching engines. A similar problem hit the NYSE on the 26th of June. Different IT-related problems hit the exchange in mid-June and in early-July of this year.

An unknown problem caused the benchmark FTSE 100 index to remain unchanged for 28 minutes on last Friday afternoon. Trading on the London Stock Exchange, however, was unaffected.The FTSE Group, which compiles the index, isn't sure why the problem occurred, however.

The FTSE 100, the FTSE Group says, comprises the 100 most highly capitalized blue chip companies, representing approximately 81% of the UK market. It is used extensively as a basis for investment products, such as derivatives and exchange-traded funds.


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Why Functional Programming Should Be the Future of Software Development

It’s hard to learn, but your code will produce fewer nasty surprises

11 min read
A plate of spaghetti made from code
Shira Inbar

You’d expectthe longest and most costly phase in the lifecycle of a software product to be the initial development of the system, when all those great features are first imagined and then created. In fact, the hardest part comes later, during the maintenance phase. That’s when programmers pay the price for the shortcuts they took during development.

So why did they take shortcuts? Maybe they didn’t realize that they were cutting any corners. Only when their code was deployed and exercised by a lot of users did its hidden flaws come to light. And maybe the developers were rushed. Time-to-market pressures would almost guarantee that their software will contain more bugs than it would otherwise.

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