Postmortem Index

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A failure of the primary leased line to a CTCL between a stock broker and a stock exchange led to the activation of a backup leased line that was operating sporadically over the following hour, affecting bracket and cover orders. Subsequently, the process of placing and validating orders had been modified to incorporate the unreliability of the CTCL’s leased lines, but the reliability of the primary and the backup leased lines was not fundamentally improved by the providers.

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