oneZero outages dilemma

15 October,, Amsterdam — According to various sources, it has been reported that over the past week oneZero Financial Systems has experienced a total of nine outages. For the ones not familiar with the firm, it’s a large forex solutions provider headquartered in Cambridge.

Playing a key role in various markets, oneZero has a wide clientele of global brokers, banks, funds and other financial/commodity market participants. One of which is IC Markets, whose internet disruptions are actually linked to the incidents of oneZero outages.

The outages occurred, in the period between the 5th till the 14th of October, which includes the one time scheduled downtime for maintenance in the weekend. The duration of the each outage varies between 73 minutes for the longest and 6 minutes for the shortest, while the last one occurred yesterday.
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What caused the outages?

From what is known, oneZero outages dilemma occurred due to ISP issues. Meaning that it is not directly related to the technology of oneZero. Nevertheless, these issues have affected a great deal of retail forex brokers. In response to the dilemma, Andrew Ralich, the CEO of oneZero has commented:

“We have seen a number of Internet connectivity related issues in our hosted DataCenter in Equinix NY4. For clients who utilize our hosted services, we provide an all-in solution that includes our choice of multiple, redundant ISPs. We take responsibility for failures by our upstream providers. We hold our technology and services to a very high standard, and we are continuing to work very closely with our clients and ISPs to ensure we do not see any further connectivity issues.”

oneZero sent client emails

In response to oneZero outages, the financial firm has sent out emails to its clients to summarize the exact outage incidents of past week. Simplifying the issue for the brokers to inform its own clients or regulator. The other purpose of the email was to reach out to its clients for further clarification, as a part of the email reads:

“I intend to schedule time this week with each of our hosted clients to discuss in-person, or via phone, the broader nature of the incidents themselves, the failures in the redundancy model we had in place and the inevitable impact this has taken on your client relationships, and confidence in oneZero’s infrastructure. I spent the day with numerous providers, both existing and new, to ensure the necessary steps are also being taken to avoid further issues.”

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