Accession Number:

ADA303230

Title:

Financial Markets: Stronger System Controls and Oversight Needed to Prevent NASD Computer Outages.

Descriptive Note:

Corporate Author:

GENERAL ACCOUNTING OFFICE WASHINGTON DC ACCOUNTING AND INFORMATION MANAGEMENT DIV

Personal Author(s):

Report Date:

1994-12-01

Pagination or Media Count:

15.0

Abstract:

This report responds to an August 2, 1994, letter requesting that the General Accounting Office GAO review recent outages experienced by the National Association of Securities Dealers NASD automated quotation and trading systems commonly called NASDAQ. Specifically, GAO was asked to determine 1 the nature and causes of the outages of July 14 and 15, and August 1,1994, 2 the impact of the outages on market participants, 3 the adequacy of NASD5 approach to respond to contingencies and disasters, 4 how well NASD oversees its automated systems and facilities, and 5 how well the Securities and Exchange Commission SEC is ensuring that the securities markets are prepared for contingencies and disasters.

Subject Categories:

  • Electrical and Electronic Equipment
  • Computer Hardware
  • Electricity and Magnetism

Distribution Statement:

APPROVED FOR PUBLIC RELEASE