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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 ...
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    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

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    CAM
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    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.

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    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.

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