Stockholm stock exchange paralyzed by order for -6 futures

[JJonas]

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

[CAM]

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/rogue-trading-robot-attack-at-knight.html

Edited November 30, 2012 by CAM

[tech_guy]

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.