Wall Street To Hold Quantum Dawn 2, Cyber-Attack Drill 55
BioTitan writes "It will be determined whether Wall Street could withstand a coordinated, large-scale cyberattack during the Quantum Dawn 2 exercise on July 18. Top firms will work together and with the government to find weak points in their systems. The exercise is a major shift from the first Quantum Dawn in November 2011, which simulated a physical terrorist attack on Wall Street (there was no physical exercise, it was all behind computers), and had firms try to prevent a mock stock market from crashing."
Fear of finance without Wall Street (Score:5, Interesting)
When lower Manhattan flooded last winter, the systems behind the exchanges were just fine. None of them are actually in Manhattan. (The big NASDAQ billboard at Times Square is just advertising. There is no NASDAQ facility at that location.) NASDAQ doesn't even have a trading floor. NYSE/Euronext was prepared to shift trading control to Chicago, where they also own Arca, another exchange.
The Wall Street firms panicked at the plan for trading going on without them. They demanded that the exchanges be shut down until the firms could get back up. That was done.