The TSE’s Arrowhead system launched to much fanfare in 2010, billed as a modern-day solution after a series of outages on an older system embarrassed the exchange in the 2000s. The “arrow” symbolizes speed of order processing, while the “head” suggests robustness and reliability, according to the exchange.
The system of roughly 350 servers that process buy and sell orders had a few hiccups but no major outages in its first decade.
That all changed on Thursday, when a piece of hardware called the No. 1 shared disk device, one of two square-shaped data-storage boxes, detected a memory error. These devices store management data used across the servers, and distribute information, such as commands and ID and password combinations, for terminals that monitor trades.
When the error happened, the system should have carried out what’s called a failover — an automatic switching to the No. 2 device. But for reasons the exchange’s executives couldn’t explain, that process also failed.
That had a knock-on effect on servers called information distribution gateways that are meant to send market information to traders.