The contracts absolve NASDAQ of liability in calamities of this nature (my business was almost destroyed -- had to take a 250K loss -- thanks to an order entry server failure), but it doesn't make you feel better.
Having had something similar happen to me, I know how much it sucks. You accept its a possibility, but don't really believe it will happen until it does.
But then why do exchanges feel free to reverse trades after the flash crash, but not after something like this flash freeze? From a non-trader's perspective it's as if they do whatever they like.
Having had something similar happen to me, I know how much it sucks. You accept its a possibility, but don't really believe it will happen until it does.