[SGVLUG] OT - interesting "Knight Trading Losses Attributed To Old, Dormant Software"

[matti]

OT - interesting...  Knight Capital Group (KCG) HFT "rogue algorithm" causes losses,
and Knight get's sold for cheap to investors.. ( $400 Million for 267 Million shares!
52 week low is 2.27 per share.. about $3 today.. )


Knight Trading Losses Attributed To Old, Dormant Software
http://news.slashdot.org/story/12/08/14/2233235/knight-trading-losses-attributed-to-old-dormant-software

Bloomberg:
http://www.bloomberg.com/news/2012-08-14/knight-software.html

interesting links from the slashdot discussion:
Algos Gone Wild ( describes what traders saw happening very well )
http://www.youtube.com/watch?v=dOO9XxH5Nyo&list=UU6NBj2q25QL4kN8tqwU9c-A

Knight Says Company May Suffer More Losses From Trade Error
http://www.businessweek.com/news/2012-08-09/knight-says-it-may-face-more-burdensome-costs-from-trade-error