What Crashed CME's Oil Trading Platform?

CME Group’s electronic oil trading platform, among the fastest in the world, crashed on Monday afternoon after being flooded by a surge of some 12,000 price quotes in the span of four minutes. The platform remained down for more than an hour, forcing trading into the open outcry pits on the floor of the New York Mercantile Exchange, an increasingly rare scene these days thanks to the steady rise of electronic trading in recent years.

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