Grappling with Vendor Risk Rules
On April 17, 2015, a network outage at Bloomberg caused the data vendor’s terminals to go dark for nearly two-and-a-half hours. The outage disrupted trading in Asia and Europe and forced the UK government to postpone a debt auction. Vendor risk reared its head again on August 24 of last year when an outage at Pennsylvania-based SunGard, which lasted for over 48 hours, prevented BNY Mellon from providing closing prices for scores of mutual funds and exchange-traded funds.
Those well-publicized
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