The $440 Million Software Bug
[magazine]
-
May 1, 2013Volume-Issue:
2013-03
Article Summary:
In August, Knight Capital Group lost $440 million in one day. But there weren’t any traders to blame—at least no human ones. The loss was the result of a software system upgrade gone awry. What can we learn from this and other software catastrophes in the financial sector, and how can we prevent them in the future?
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