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Trading Program Ran Amok with No "Off" Switch
Keywords:
Some Knight employees noticed the erratic orders going out in the first couple of minutes of trading on the New York Stock Exchange and sent messages to Knight managers. Yet it took over half an hour, something like eternity say traders, for Knight to respond. It should have pressed the "Off" switch to stop the erratic orders, so traders are now asking why there was no mechanism for Knight to stop the trading immediately.
Knight Capital Group
08/02/2012
Grouped Articles
Knight Capital Says Trading Glitch Cost it $440 Million
New York Times 08/02/2012
Wall Street Journal 08/02/2012
Trying to be Nimble Knight Capital Stumbles
New York Times 08/02/2012
Errant Trades Reveal a Risk Few Anticipated
New York Times 08/02/2012
Wall Street Journal 08/04/2012
Trading Program Ran Amok with No "Off" Switch
New York Times 08/03/2012
The New York Stock Exchange, the S.E.C. and the problems from untested brokerage firm software for trading stocks.
08/02/2012
The problems at Knight Capital and the erroneous orders from faulty software leading to losses of $440 million.
Grouped Articles
Errant Trades Reveal a Risk Few Anticipated
New York Times 08/02/2012
Wall Street Journal 08/04/2012
Trading Program Ran Amok with No "Off" Switch
New York Times 08/03/2012
Knight Gets $400 Million Lifeline
Wall Street Journal 08/06/2012
SEC Nixed Knight's Plea for a Do-Over
Wall Street Journal 08/06/2012
Don't Overreact to This Knightmare
Wall Street Journal 08/07/2012
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