Like many people who have been in the markets and technology for a long time (in my case, pre big bang in London), I’m perplexed by what happened at Knight yesterday.
As per usual, my first visit was to Nanex to discover the “what”, so now I’m trying to find the “why”, e.g., why would a legging algo trade at market, why didn’t the strategy P&L show the problem immediately? Various theories here and here but no clear explanation yet.
It’s a hell of a way to lose $440m!
Filed under: Latency, Scott McLeod |
SingleDealerPlatforms.Org 
I am not positive the place you’re getting your info, but good topic.
I needs to spend some time finding out more or working
out more. Thank you for great information I was searching for this info for my mission.