Single Post Display - MarketTicker Forums

Sponsored Advertising

To remove advertising from your display upgrade to Gold Donor status

MarketTicker Forums Single Post Display (Show in context)

User: Not logged on

User Info

Knight...Trading program ran amok; entered at 2012-08-04 12:08:29

Connieg
Posts: 860
Registered: 2008-06-08 Houston, TX

http://www.cnbc.com/id/48498846

Apparently, the program run for 30 min with no "kill" switch either available or used.

Quote:

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?

Several market insiders said that they were bewildered, because in a market where trading losses can pile up in seconds, executives typically have a simple command that can immediately halt trading.

"Even just a minute or two would have been surprising to me. On these time scales, that is an eternity," said David Lauer, a trader at a high-speed firm until a year ago. "To have something going on for 30 minutes is shocking."

Barrons reports: "Knight felled by its own sword."
http://online.barrons.com/article/SB5000....

Quote:

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


	Detailed market commentary at The Market Ticker and Ticker Classics (The Year 2012 In Review) Donations accepted; we offer GOLD ACCESS for enhanced privileges. T-Shirts, caps, coffee mugs? Click here. BlogTalkRadio - Mondays at 3:30 Central - Yes, TickerGuy has a radio show (kinda) RSS available You are not signed on; if you are a visitor please register for a free account!