Incomplete upgrade reportedly led to Knight Capital glitch

08/15/2012 | Wall Street Journal, The · Bloomberg Businessweek

Knight Capital Group's $440 million trading loss was the result of an incomplete software upgrade that left behind some code from an older program, which triggered many buy and sell orders, sources said. Knight did not make details public but said software was installed for trading with the New York Stock Exchange. The situation has prompted discussion about how Knight's market-making and technology groups interact, sources said.

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Wall Street Journal, The · Bloomberg Businessweek

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