COMPUTER ERRORS can be serious. “Knight Capital Group, a market-making firm that until August 2012 had a stellar reputation in its industry, blew all of that in about 30 minutes. Between 9:30 a.m. and 10 a.m. EST on August 1, the company’s trading algorithms got a little buggy and decided to buy high and sell low on 150 different stocks. By the time the bleeding had stopped, KCG had lost $440 million on trades.”
https://lnkd.in/dAbKmAG
linkedin post 2022-06-29 05:12:48
Nigel Fleming
September 21, 2022