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Nasdaq to reshuffle stock weightings to reduce index volatility


nasdaqIn a move not seen very often, NASDAQ OMX Group, the company that owns and operates the Nasdaq stock index announced today the company would re-organize the weightings of certain securities in a bid to lower volatility.

Technology stocks that are traditionally more volatile will be adjusted to new lower weightings, and other stocks that are less volatile will now represent larger weightings.

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NASDAQ Confirms Part of Its Systems Were Hacked, Repeatedly Accessed


nasdaq-nyc-times-squareThe New York City-based equities index, NASDAQ, confirmed on Saturday that unknown Internet hackers successfully penetrated part of the organization’s sensitive networks, even multiple times, throughout 2010.

Hackers were able to access data from the company’s Directors Desk product, which is a cloud-based service NASDAQ Group offers to companies that have their securities listed on its index, which allows users to securely share documents.

Top-level government agencies, including the Securities Exchange Commission (SEC), the FBI, the Secret Service, and the Justice Department, among others, are working together to identify the perpetrators and what information they could have illegally accessed.

Investigators have not reached a motive for the attacks, which could span to include industrial espionage, to financial gain from accessing material nonpublic information.

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