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How One Hour of Downtime Cost 500 Million Dollars
When a single server at a major financial exchange went offline for just 67 minutes, the ripple effects cascaded through global markets, triggering failed trades, margin calls, and billions in unsettled positions. In this episode, Lucas and Luna dissect the 2024 outage at the Chicago Mercantile Exchange, exploring how a routine software update bypassed redundancy protocols, why the backup systems failed in sequence, and what the post-mortem revealed about the hidden fragility of high-frequency trading infrastructure. They break down the cascade: the initial latency spike, the automated halt…
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