05/26/2020 -
On August 1, 2012, the global financial services firm Knight Capital, which was at the time the largest trader in U.S. equities, lost $460 million due to a “technology breakdown.” One of their trading servers housed defective code, causing the group irreparable damage. Almost exactly a year later, a Goldman Sachs computer glitch resulted in a number of erroneous trades, resulting in a loss of over $100 million for the company.
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