As per LeapRate’s earlier report, a number of clients of US online stockbroker TradeKing had trouble executing buy and sell orders via the company’s website for some time on Monday and Tuesday this week.
The company, which appears to be up for sale, has been informing its clients of developments regarding the tech issues and its work on restoring normal operations.
On Friday, TradeKing’s CIO Kevin Delo published a post, explaining that the problems stemmed from an improper switch configuration, connecting its site to the internet service provider (ISP) during the migration of TradeKing’s systems to a new data center.
Below is the full statement by TradeKing’s CIO Kevin Delo:
Having completed our due-diligence with follow-up tests and a thorough review of our procedures during last weekend’s planned systems migration to a new, upgraded data center, I’m now able to share more details regarding the sign-in and trading issues experienced by some clients earlier this week.
What caused the issues, and what will prevent them from happening again?
During the migration to the new data center, an improper switch configuration, connecting our site to the internet service provider (ISP), caused cascading issues with site functionality. The error resulted in some clients experiencing sign-in and trading issues Monday and took a number of hours to identify and remedy. While site issues are never an acceptable situation for an online broker, the good news here is that our migration to a new and more modern data center was a one-time event. Now that we’ve completed this effort, we don’t foresee a need to make this kind of move again for a very long time.
Why did TradeKing make the data center migration in the first place?
With the move to a new data center, we’ve enhanced our technology infrastructure with new switches, servers, storage facilities, firewalls, and cloud computing software, all of which will enable us to deliver better site performance in the future.
Where do things stand now?
As reported earlier, the ability to sign in and trade was largely restored early on Tuesday. Since then, most clients have been able to trade without any problems, and we’re back to processing our typical volume of daily trades for clients. That said, we’re aware that some clients are still experiencing residual issues with certain features and functions. Again, we will not rest until these last issues are resolved and everything is working perfectly.
We sincerely apologize to those affected by the issues this week. We’re confident that those issues are largely behind us and that TradeKing is in an even stronger technological position to serve you well moving forward.
Sincerely,
Kevin Delo
Chief Information Officer
To monitor the latest updates regarding the tech matter, click here.