Wednesday, October 23, 2013

The demise of Knight Capital

Python Sweetness on How to lose $172,222 a second for 45 minutes:

"How to lose $172,222 a second for 45 minutes This is probably the most painful bug report I’ve ever read, describing in glorious technicolor the steps leading to Knight Capital’s $465m trading loss due to a software bug that struck late last year, effectively bankrupting the company.  The tale has all the hallmarks of technical debt in a huge, unmaintained, bitrotten codebase (the bug itself due to code that hadn’t been used for 8 years), and a really poor, undisciplined devops story."

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