On October 11 and 12, we experienced failures with the Exchange’s Order Routing System. One cause of these failures has been identified as data base locks on the Sybase data base.
Approximately three weeks ago, we installed a software patch to address a similar data lock situation that was unique and as represented by Sybase Inc. the unique data lock situation would be resolved by installing this patch. We expedited the patch installation after thorough quality assurance testing. Subsequent to the installation, we experienced a data base lock on October 4, 2000, and then the subsequent occurrences this week. Although we cannot at this time conclusively state that there is a direct correlation between the patch and the recent data lock occurrences, the increased incidents suggest that the patch was a contributing factor to the failures that we have recently experienced. Our technology team worked throughout the night to remove the patch and will work around the clock through the weekend to bring our system back to its pre-patch status. This is not the solution to the larger lock issue that is being addressed as follows:
The technology team has been instructed to expedite upgrading Sybase to a version that should provide us with added capabilities to reduce and potentially resolve the locking occurrences. We expect to implement this change within four weeks. As with all changes to our system, you will be notified of the exact date.
We have sought the assistance of experts from Sybase to be fully dedicated to assisting us with the identification and resolution of the data lock situations.
I have instructed that a thorough review of our system be performed to confirm that we have accurately isolated the cause of our recent failures. I have also directed that an immediate action plan for resolution be implemented.
Rest assured that I recognize the critical importance of and user reliance on the order routing system in the open outcry environment. I am closely monitoring this situation to ensure that the Exchange’s order routing system is returned to its stable state. It is our plan to resume order routing operations on Monday, October 16, 2000, with my commitment that a plan for corrective action has commenced.
Should you have any questions regarding this plan, please contact me, James Amaral, CIO, at +1 312-435-7107, or Bryan Durkin at +1 312-435-3687.
Sincerely,
Dennis A. Dutterer