+ Post New Thread
Results 1 to 3 of 3
General Chat Thread, Stockholm stock exchange paralyzed by order for -6 futures in General; Stockholm stock exchange paralyzed by order for -6 futures | Geek.com A good example of why it is important to ...
  1. #1

    JJonas's Avatar
    Join Date
    Jan 2008
    Location
    North Walsham, Norfolk
    Posts
    3,063
    Thank Post
    379
    Thanked 424 Times in 314 Posts
    Rep Power
    361

    Stockholm stock exchange paralyzed by order for -6 futures

    Stockholm stock exchange paralyzed by order for -6 futures | Geek.com

    A good example of why it is important to test your coding with real world data inputs - even stupid ones

  2. #2
    CAM
    CAM is offline

    CAM's Avatar
    Join Date
    Mar 2008
    Location
    Burgh Heath, Surrey
    Posts
    4,012
    Thank Post
    799
    Thanked 343 Times in 267 Posts
    Blog Entries
    60
    Rep Power
    278
    Can't remember the company name but there was an incident earlier this year at Wall Street where a piece of software designed to buy and sell many thousands of times a second went rogue. Instead of buying low and selling high it was doing the opposite, at a loss of about $0.10, thousands of times a second for a good hour or so.

    It nearly bankrupted the company as they racked up a massive debt. Apparently the subroutine in question was designed for testing environments only, shipped with the product and it thought the live market was just a testing ground.

    EDIT - Here it is http://nymag.com/daily/intel/2012/08...at-knight.html
    Last edited by CAM; 30th November 2012 at 08:21 AM.

  3. #3

    tech_guy's Avatar
    Join Date
    May 2007
    Location
    That little bit in the middle of Little Old England
    Posts
    8,130
    Thank Post
    1,907
    Thanked 1,341 Times in 740 Posts
    Blog Entries
    3
    Rep Power
    394
    Quote Originally Posted by CAM View Post
    Can't remember the company name but there was an incident earlier this year at Wall Street where a piece of software designed to buy and sell many thousands of times a second went rogue. Instead of buying low and selling high it was doing the opposite, at a loss of about $0.10, thousands of times a second for a good hour or so.

    It nearly bankrupted the company as they racked up a massive debt. Apparently the subroutine in question was designed for testing environments only, shipped with the product and it thought the live market was just a testing ground.

    EDIT - Here it is Rogue Trading-Robot Attack at Knight -- Daily Intel
    Ouch! Hilarious and frightening at the same time.

SHARE:
+ Post New Thread

Similar Threads

  1. Replies: 1
    Last Post: 10th March 2010, 11:56 AM
  2. Replies: 2
    Last Post: 11th September 2008, 02:03 PM
  3. Exchange 2003 or 2007 for internal email only.
    By tosca925 in forum Windows
    Replies: 4
    Last Post: 8th October 2007, 12:59 PM
  4. Exchange server to cater for 4 networks accross 2 sites!
    By Jimbo in forum How do you do....it?
    Replies: 10
    Last Post: 28th June 2007, 06:17 PM

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •