2. The 12 Most Spectacular Financial Services Failures of All Time
As a result of its spectacular technology fail on August 1, Knight Capital became the latest in a long list of financial services firms – from Barings to Long-Term Capital Management to have been either pushed to the brink of collapse or permanently wiped out.
Ed’s Note: 2012 was the year of technology fiascos: from Nasdaq botching Facebook’s IPO to BATS messing up its own and Knight’s errant algo, the flurry of major tech mishaps reignited the debate on high-frequency trading and spurred the SEC to hold a meeting to try and improve the stability of the markets.
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Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio