Satellite crash leaves investors blind and fumbling with ISDN

PAGI's data transmission system connects the Warsaw Stock Exchange with local stockbrokers. The failure forced the WSE and brokers to switch to the terrestrial ISDN system. However, the changeover took some time and in several individual cases the online quotations were not accessible at all or appeared only after several hours. It also proved that some of the brokers do not have backup data-transmission systems, and as a result 6,000 out of the 30,000 final recipients of the WSE service did not have access to online quotations. However, the WSE, which offers stock prices with a 15-minute delay, did not decide to offer investors online access to the quotes. The reasons for the breakdown are unknown, but it is most likely that the bourse will not pursue any action against PAGI. (Parkiet, p. 1) E.B.