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**Filling25** · 08-09-2012, 02:48 PM

Raging Bulls: How Wall Street Got Addicted to Light-Speed Trading | Wired Business | Wired.com

One of the most interesting things about the catastrophe at Knight Capital Group—the trading firm that lost $440 million this week—is the speed of the collapse. News reports describe the bulk of the bad trades happening in less than an hour, a computer-driven descent that has the financial community once again asking if its pursuit of profits has led to software agents that are fast yet dumb and out of control. We’re posting this story in advance of its publication in Wired’s September issue because it examines how Wall Street has gotten to the point where flash failures come with increasing frequency, and how much further traders seem willing to go in pursuit of ever-greater speed.

08-09-2012, 02:48 PM	#1
Filling25 Join Date Oct 2005 Posts 425 Senior Member	Trading at the speed of light Raging Bulls: How Wall Street Got Addicted to Light-Speed Trading \| Wired Business \| Wired.com One of the most interesting things about the catastrophe at Knight Capital Group—the trading firm that lost $440 million this week—is the speed of the collapse. News reports describe the bulk of the bad trades happening in less than an hour, a computer-driven descent that has the financial community once again asking if its pursuit of profits has led to software agents that are fast yet dumb and out of control. We’re posting this story in advance of its publication in Wired’s September issue because it examines how Wall Street has gotten to the point where flash failures come with increasing frequency, and how much further traders seem willing to go in pursuit of ever-greater speed.
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