Nasdaq failure underlines worries over infrastructure resilience

A three-hour interruption in trading on the New York Nasdaq stock exchange yesterday provides more evidence to back up concerns about the stability of vital parts of the financial markets infrastructure.

Trading shut down shortly after noon local time and reopened at 3:25pm. In a media interview later that day, Nasdaq OMX chief executive Robert Greifeld said that the exchange "has to get better at defensive driving" in order to avoid similar incidents in future.

The cause of the outage is still

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