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Knight Is Fighting for Survival As Several Big Clients Defect
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Knight Is Fighting for Survival As Several Big Clients Defect

  #1 (permalink)
Quick Summary
Knight Is Fighting for Survival As Several Big Clients Defect

Knight Capital appeared to be fighting for survival after suffering a $440 million loss, seeing several big customers defect and watching its stock plunge over 70 percent.

More on CNBC...

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  #2 (permalink)
Elite Member
Chicago Illinois USA
 
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wldman's Avatar
 
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I have...

completed new account paperwork here on my desk pending their receipt of my deposit. This is a harrowing tale of tragedy narrowly averted I do believe.

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  #3 (permalink)
Elite Member
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heywally's Avatar
 
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I used to work with Unix and Oracle databases and Apps, installations and upgrades for the HR and Financials systems, etc., but at a large University. I shudder to think of being tasked to do installs and upgrades of any major software on these kinds of systems - truly terrifying, especially for management. Must have been very difficult to test other than to just run it in the real world.

"The Future Ain't what it used to be"
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  #4 (permalink)
Membership Revoked
Szczecin
 
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heywally View Post
I used to work with Unix and Oracle databases and Apps, installations and upgrades for the HR and Financials systems, etc., but at a large University. I shudder to think of being tasked to do installs and upgrades of any major software on these kinds of systems - truly terrifying, especially for management. Must have been very difficult to test other than to just run it in the real world.

Yes. It must have been very hard not to have an administrator there WATCHING the system on the first hours of trading and just PULLING the moment things go out of parameters. Being Professional is SO hard when money is at stake.

Gross neglect by retarded idiots that HOPEFULLY now go working ad McDonalds and serving burgers than installing and running trading systems.

how the hell can it take 45 Minutes to turn the plug on something like that?

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  #5 (permalink)
Market Wizard
virginia
 
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NetTecture View Post
Yes. It must have been very hard not to have an administrator there WATCHING the system on the first hours of trading and just PULLING the moment things go out of parameters. Being Professional is SO hard when money is at stake.

Gross neglect by retarded idiots that HOPEFULLY now go working ad McDonalds and serving burgers than installing and running trading systems.

how the hell can it take 45 Minutes to turn the plug on something like that?

maybe it had AI built-in and they were just waiting for it to kick in.

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  #6 (permalink)
Scarecrow
CA USA
 
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program's Avatar
 
Posts: 100 since Nov 2010
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MBTrading user... I've been inundated with Knight emails, reassuring me ethical business practices...

I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
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