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|User Info||Knight...Trading program ran amok; entered at 2012-08-04 12:08:29|
Registered: 2008-06-08 Houston, TX
Apparently, the program run for 30 min with no "kill" switch either available or used.
As Knight struggled to survive on Friday, employees at the company, market overseers and other electronic trading firms were asking the same basic question: Where was the off switch?
Barrons reports: "Knight felled by its own sword."
The market's Achilles' heel remains a regulatory system seemingly incapable of keeping pace with technological innovations. Regulators don't seem to know what problems, if any, lurk in the computer systems of the global marketplace.
Personally, I am temporarily pulling out of active market trading.
Last modified: 2012-08-04 12:11:30 by connieg