• Oct
  • 29
  • 2009
  • 8:09 AM

Juniper Networks at NYSE to Mark 40th Birthday of Internet (and Juniper’s Move to NYSE)

By: Ray Pellecchia
File Under: Listed Companies

Juniper Networks’ CEO, CTO and others will be at NYSE this morning to ring the Opening Bell and hold an analyst and press meeting on the occasion of the company’s transfer to NYSE from Nasdaq and the 40th anniversary of the Internet.

I had no idea the Internet was turning 40. Should I have baked Al Gore a cake?

At 10:30 a.m. EDT, Juniper Networks’ management will host a global press and analyst meeting to discuss its vision for the “new network” that will propel enterprises and service providers over the next decade. CEO Kevin Johnson and Pradeep Sindhu, founder and chief technology officer, along with other executives will unveil several new breakthrough products and partnerships, following a brief welcome by NYSE Euronext CEO Duncan Niederauer.

A live webcast of the meeting will be available here.

If you don’t know Juniper, the company describes itself as follows:

From devices to data centers, from consumers to the cloud, Juniper Networks delivers innovative software, silicon and systems that transform the experience and economics of networking. The company serves more than 30,000 customers and partners worldwide, and earned more than $3 billion in revenue over the last year. Additional information can be found at www.juniper.net

On a completely unrelated note (and since when were you expected something related from me?), today also is the 80th anniversary of a real chiller in financial-market history. May today be a whole lot better:

Today in NYSE History
28 Oct. 1929 -– “Black Tuesday,” the most dramatic day of the 1929 Crash. The DJIA was off nearly 12 percent on volume of 16 million shares, a record that would stand for decades.

Comments

NYSE might get a lot of things right but sometimes you fail spectacularly. 45 minutes from the open today we still have crap nyse quotes all over the place. Pathetic! Glad i have this blog to complain on...

by moop on October 30, 2009 10:15 AM

Moop -- An influx of erroneous orders prompted the slowness in our quote dissemination system, and it took us longer than it should have to recover. We're taking steps to keep such problems from happening. Sorry it happened.

by Ray Pellecchia on October 31, 2009 10:01 AM

Ray,

That's the company line -- an influx of erroneous orders. So, are we to assume that a single entity can bring your quoting system to its knees when some buggy trading software malfunctions? What happened to the old company line about the human aspect in your market model? I didn't see any humans take over and save the day.

What steps are you taking to prevent this (how about some kind of circuit breaker on an individual MPID)?

Thanks.

by MTX on November 2, 2009 12:06 PM

MTX -- I know for myself that the cause we stated happens to be true; I was there. In this instance there was no entry point for people to intervene before the orders hit our quote system. But now that you ask, it was indeed people who intervened so that the erroneous orders were not executed, in contrast to what probably would have happened in an all-electronic market. That is not to diminish what happened, but it could have been much worse.

In response, we're reviewing every aspect of the incident and strengthening our systems and procedures to prevent such issues and to recover faster when problems do occur.

by Ray Pellecchia on November 2, 2009 1:28 PM

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