The Intercontinental Exchange (ICE) went down this morning for about two hours, leading the exchange to cancel all outstanding futures orders and putting a hold on OTC and Options trades. According the company, the event was caused by a power failure in its Chicago data center.

Frankly this is just inexcusable. There is no way this company should have ever put themselves in this position. Their infrastructure group should have mapped out every contingency and have anticipated every potential event. Given their size and market reach, ICE should have THE leading edge disaster recovery infrastructure and processes in place. Heads should be rolling over this one.

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