Knight Trading Loss Said Linked to Dormant Software
Aug. 14 (Bloomberg) -- Knight Capital Group Inc.’s $440 million trading loss stemmed from an old set of computer software that was inadvertently reactivated when a new program was installed, according to two people briefed on the matter.
Once triggered on Aug. 1, the dormant system started multiplying stock trades by one thousand, according to the people. Christine Harper talks about the glitch with Stephanie Ruhle and Scarlet Fu on Bloomberg Television's "Market Makers." (Source: Bloomberg)