James McKee

Nasdaq Vulnerable to Cyber Attack In 2011



Posted: Monday, February 07, 2011

by James McKee
http://www.forex.tradingcharts.com

As if there were not enough fear surrounding the finance market a recent series of events has brought scrutiny to the US stock market with regard to their security.  A series of stock market “freezes” with regard to prices that would not update sent some into a panic.  The cause thought to be responsible for this recent issue is a breach of security undertaken by computer hackers.  While there is no proof of this strange computer files left on trading system computers are seen as suspicious to investigators and many are wondering how vulnerable the system may be.

The USD is inextricably linked to the US stock market and when the very security of the market itself is tested and even broken the USD will inevitably suffer to a degree.  Where there is a lack of confidence there is a lack of investment, if there is a lack of confidence in the market itself not due to financial instability but to the security of the system itself we are facing a whole new set of challenges.  Officials have admitted to some strange files being found on their systems but have not confirmed the presence of any cyber intruders.

The fact that the financial systems of the United States have been compromised sends a message to the investors of the world that not even NASDAQ is full proof and that doubt may cause problems.  Investors from the outside and even within the United States are very concerned about what has occurred and rightfully so.  Those on the Forex currency exchange should stay on top of what actions are undertaken to correct this security breach and prevent others in the future.  Failure to properly secure the computer systems that regulate financial markets could have catastrophic consequences for the world’s economy in the future if this problem is not corrected.
Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates regularly.
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