Glitches are piling up. What seems to cause them ?
$10 million a minute.
That’s about how much the trading problem that set off turmoil on the stock market on Wednesday morning is already costing the trading firm.
The Knight Capital Group announced on Thursday that it lost $440 million when it sold all the stocks it accidentally bought Wednesday morning because a computer glitch.
- Knight Capital Says Trading Glitch Cost It $440 Million (dealbook.nytimes.com)
- Knight Confesses $440 Million Loss, Seeking Alternatives (KCG, BRK-A) (247wallst.com)
- Knight Capital Group (KCG) Drops 30% After Trading Glitch, Could Face $300 Million Loss (t3live.com)
- Knight seeks financing after $440 mln loss; shares drop (vancouverdesi.com)
- IT glitch sends Wall St on wild ride (nzherald.co.nz)