Derivatives shops, used to clearing hundreds of billions of dollars in trades every day, found themselves in a dramatically different era this week: the old days of manually processing deals.
Early on Tuesday morning in Europe, a little known but critically important software company that underpins the smooth functioning of stock, bond and commodities markets started to seize up. London-based Ion Trading UK had succumbed to a cyberattack. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: