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Knight Trading Snafu Highlights Bigger Problems
Written by Pat's Papers | Friday, 3 August 2012 7:40 AM
Knight Capital is the latest investment firm to be embroiled in a stock trading snafu after bugs in its new computer program, which debuted on Wednesday, flooded the market with random trades. The New York Times says Knight’s troubles are indicative of a larger problem with computer trading programs, which can execute thousands of trades a minute. Some want to impose a transaction tax to tamp down their activity.
SOURCE: New York Times
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