Trying to stay a step ahead of its competitors, Knight rolled out some new trading software. The software wasn't ready.
NEW YORK: This week, yet another Wall Street firm most people have never heard of, relying on a computerized trading program that they can't possibly understand, shook investors' faith in the market. This is happening a little too frequently, don't you think?
The company, of course, was Knight Capital, a major market maker that generated an astonishing 11 percent of all the trades in the first half of this year, according to the Tabb Group. It caters to sophisticated Wall Street traders as well as small investors, whose brokers often used Knight to fulfill their trades.
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http://news360.com/article/62973387
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NEW YORK: This week, yet another Wall Street firm most people have never heard of, relying on a computerized trading program that they can't possibly understand, shook investors' faith in the market. This is happening a little too frequently, don't you think?
The company, of course, was Knight Capital, a major market maker that generated an astonishing 11 percent of all the trades in the first half of this year, according to the Tabb Group. It caters to sophisticated Wall Street traders as well as small investors, whose brokers often used Knight to fulfill their trades.
...
http://news360.com/article/62973387
Shared via News360 for Windows Phone 7. Learn more at http://news360app.com.
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