| Recurring |
one_organization, multiple_organization |
(a) The software failure incident having happened again at one_organization:
- Euronext experienced a technical failure impacting one of its data management systems, causing a glitch in its exchanges [106563].
- Euronext faced a similar issue in the past, as the article mentions that the problems encountered on Monday were not due to a problem in Euronext's proprietary platform but "a bug in a third-party component" [106563].
(b) The software failure incident having happened again at multiple_organization:
- The article mentions various other instances of exchange outages globally due to software and hardware glitches, cyberattacks, and other issues at different organizations, such as the Tokyo Stock Exchange, New Zealand's stock exchange, Germany's Xetra, and more [106562]. |
| Phase (Design/Operation) |
design, operation |
(a) The software failure incident mentioned in the articles was primarily attributed to a bug in a third-party component rather than a problem in Euronext's proprietary platform. This bug in the third-party component caused the technical failure impacting one of Euronext's data management systems, leading to the disruption in trading on several major stock exchanges hosted by Euronext [106563].
(b) The software failure incident also highlighted the importance of operational incidents during critical phases such as closing auctions. The glitches during the closing auctions on Monday caused major price swings, leading to the cancellation of orders placed after a certain time. This operational issue impacted the daily pricing for exchange-traded funds (ETFs) and hedge funds, emphasizing the significance of smooth operation during crucial trading periods [106563]. |
| Boundary (Internal/External) |
within_system, outside_system |
(a) within_system: The software failure incident at Euronext was attributed to a bug in a third-party component, as stated by the exchange operator in an email to Reuters [106563]. This indicates that the failure originated within the system itself.
(b) outside_system: The article also mentions that exchange outages, including the one at Euronext, have been caused by various factors such as software and hardware glitches, cyberattacks, and even incidents like a squirrel chewing through a power line [106562]. These external factors contribute to failures that originate outside the system. |
| Nature (Human/Non-human) |
non-human_actions |
(a) The software failure incident occurring due to non-human actions:
- The software failure incident at Euronext was caused by a bug in a third-party component, not due to a problem in Euronext's proprietary platform [106563].
- The outage at Euronext was due to a technical failure impacting one of its data management systems [106563].
- The outage in Amsterdam, Brussels, Lisbon, and Paris was caused by a technical glitch at exchange operator Euronext [106562].
- Various other exchange outages globally were caused by hardware failures, cyberattacks, software glitches, and even incidents like a squirrel chewing through a power line [106562].
(b) The software failure incident occurring due to human actions:
- There is no specific mention of the software failure incident being caused by human actions in the provided articles. |
| Dimension (Hardware/Software) |
hardware, software |
(a) The articles mention incidents related to hardware failures:
1. On Oct. 1, the Tokyo Stock Exchange experienced a hardware failure that brought trading to a standstill [Article 106562].
2. TMX Group Ltd in Canada faced an outage due to a hardware failure causing problems with order entries, leading to the shutdown of trading across three local bourses for nearly two hours [Article 106562].
3. In August 1994, a squirrel chewed through a power line in Trumbull, Connecticut, affecting the Nasdaq's servers due to a backup power system failure [Article 106562].
(b) The articles mention incidents related to software failures:
1. Euronext experienced a technical failure impacting one of its data management systems, which was attributed to a bug in a third-party component, causing trading disruptions in several major European stock exchanges [Article 106563].
2. New Zealand's stock exchange faced disruptions due to cyberattacks [Article 106562].
3. Xetra, managed by Deutsche Boerse, encountered a software glitch that temporarily shut down trading on its electronic trading platform [Article 106562]. |
| Objective (Malicious/Non-malicious) |
non-malicious |
(a) The articles do not mention any indication of the software failure incident being malicious or due to contributing factors introduced by humans with the intent to harm the system [106563, 106562].
(b) The software failure incident mentioned in the articles is attributed to non-malicious factors such as technical glitches, hardware failures, software bugs, and third-party component issues [106563, 106562]. These incidents disrupted trading on major stock exchanges in Western Europe, leading to concerns about the risk of relying on a single operator hosting multiple bourses. The failures were not attributed to cyberattacks or intentional malicious actions. |
| Intent (Poor/Accidental Decisions) |
accidental_decisions |
(a) The software failure incident at Euronext was not due to poor decisions but rather a bug in a third-party component. Euronext stated that the issues encountered were not a problem in their proprietary platform but were caused by a bug in a third-party component [106563].
(b) The incident at Euronext was described as a technical failure impacting one of its data management systems, leading to the disruption of trading on several major stock exchanges in Western Europe. The outage was attributed to a bug in a third-party component, indicating that the failure was due to unintended technical issues rather than poor decisions [106563]. |
| Capability (Incompetence/Accidental) |
accidental |
(a) The software failure incident occurring due to development incompetence:
- The software failure incident at Euronext was not due to a problem in Euronext's proprietary platform but "a bug in a third-party component" [106563].
- The incident at Euronext was caused by a technical failure impacting one of its data management systems, which was not a problem in Euronext's proprietary platform [106563].
(b) The software failure incident occurring accidentally:
- The outage at Euronext was caused by a bug in a third-party component, indicating an accidental introduction of the contributing factor [106563].
- The article mentions various outages caused by software and hardware glitches, cyberattacks, and even incidents like a squirrel chewing through a power line, highlighting accidental factors leading to software failures [106562]. |
| Duration |
temporary |
The software failure incident reported in the articles was temporary. The incident caused trading in stocks and derivatives to be frozen for three hours in several European cities, including Amsterdam, Brussels, Lisbon, and Paris [Article 106562]. The outage was due to a technical glitch at the exchange operator Euronext, impacting its data management systems [Article 106563]. The issue was not permanent but rather a temporary disruption in trading activities caused by specific circumstances related to the technical failure and glitches in the system. |
| Behaviour |
crash, omission, timing, value, other |
(a) crash: The incident at Euronext resulted in trading coming to a standstill for more than three hours due to a technical failure impacting one of its data management systems. The glitch caused major liquidity providers to pull quotes from Euronext's exchanges, leading to disruptions in trading activities [106563].
(b) omission: The glitches at Euronext during the closing auctions on Monday caused major price swings, prompting the exchange to cancel all orders placed after a certain time. This omission in the system's functioning affected the pricing and trading activities of exchange-traded funds and hedge funds [106563].
(c) timing: The incident at Euronext affected the timing of trading activities, particularly during the crucial closing auctions. The final five minutes of trade were crucial for setting prices, and the glitches during this period led to major disruptions and subsequent cancellations of orders [106563].
(d) value: The software glitch at Euronext impacted the value of trade orders, causing discrepancies in the closing prices of certain stocks. For example, the share price of Dutch healthcare technology company Philips fell almost 4% at Monday's close, but Euronext later informed them that their closing price would actually be set at a different value [106563].
(e) byzantine: The articles do not provide specific information indicating a byzantine behavior of the software failure incident.
(f) other: The software failure incident at Euronext was attributed to a bug in a third-party component rather than a problem in Euronext's proprietary platform. This type of external bug causing disruptions in the system's functioning represents a different aspect of software failure behavior [106563]. |