Last week Knight Capital Group lost $440 million when it sold all the stocks it accidentally bought because a computer glitch. Well Group ($KCG) lost $440 million – that’s aLmost as much as Zuckerberg loses each day!
When this story first broke, it was a bit different from other “algos gone wild” stories we’ve seen in recent history: there were 140 stocks affected, and they were on both the buy side and the sell side. We can say that the large programming trading desk, Continue reading “Desperate times Knight Capital !! Error or scandal”