Last week, while on vacation in San Diego, I took a golf lesson from a veteran golf pro, Bob Madsen. For the record, I am not a good golfer. While I have swung a club at a white ball for many years, I have failed to improve during this time due to lack of dedicating […]
In the first 45-minutes the market was open the faulty software deployment sent millions of child orders into the market resulting in 4 million transactions against 154 stocks for more than 397 million shares. In laymen’s terms, Knight Capital Group realized a $460 million loss in 45-minutes and went from being the largest trader in US equities and a major market maker in the NYSE and NASDAQ to bankrupt.