Wall Street’s 5 Biggest Tech Fails
Knight Capital Group’s Trading Glitch, Aug. 1, 2012
An apparent bug in the embattled brokerage’s computer systems triggered a series of errant trades that caused $440 million in losses for Knight Capital in less than an hour. As of this writing, the firm was scrambling to raise money to stay in business. Technology’s role in the disaster has also raised serious questions about whether the complexity and speed of today’s markets mean incidents like these represent the new normal.
[How to Prevent Market Mayhem Like the Knight Fiasco ]