[madaxe_again]

I used to write trading software - had test FIX accounts on live cbot, cme, xetra, Liffe, lme, etc.

Decided to see if I could still log in to any of them about a year ago. Still could on half of them. I left that gig a decade ago.

Oh, and a few of them have no trade limits or risk management.

Boggle.

[gumby]

20+ years I had some security discussions with a major exchange in the USA. In the same building were offices of Goldman Sachs and another bank (Morgan or Merril, don't remember). Anyway there was a single thinnet (10base2 ethernet) that connected them to the exchange. Yep, a quick sniff showed that everyone could see everyone else's traffic.

My contacts were genuinely surprised that this was even possible. But also I was told there would be no contract if I mentioned this to upper management in my report.

There was no contract.