Reuters' Midtown Hub Goes Down For 4 Hours: Dealing And Data Stop; Forex Markets Disrupted
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Reuters' midtown Manhattan data center crashed two weeks ago, leaving several major bank customers unable to trade on the vendor's foreign exchange dealing systems for more than four hours -- and exaggerating forex market fluctuations by 20 to 30 points according to one estimate. The downtime, which persisted from 8:30 a.m. to 12:45 p.m. on Feb. 24, was the result of a power outage which apparently also got the better of the data center's backup procedures.
Citicorp, Chemical Bank and Union Bank
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