Hot Topics in Tech: NYSE glitch: what happened? A Lesson from the NYSE Outage: Fragmentation Works. Leap second was not a mini Y2K, but more of a tempest in a teapot. No major outages or calamities as a result of the leap second. Derivatives market concerned by trade reporting costs. A Bitcoin technology gets NASDAQ test.

The Inbox: Listener questions and comments.

• Question from SemperFi: Do you guys think it was really a hack that brought down NYSE? NYSE, WSJ, United and Reddit? Seems fishy to me.
• Comment from Technation: I very much enjoyed your interview with the CEO of IB. It was a far reaching conversation that covered many topics. It is interesting to see early pioneers in computer trading now pushing back against the modern iteration. I suppose there's a certain amount of karma at work there. I also found his final comment that he supports new startups not by investment but by providing discounts to his own services to be very revealing. I'm already looking forward to your next episode.
• Question from Nikolai: Why do you think so few outside investment funds and venture funds invest in trading-related startups?