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Date: Sun, 05 Aug 2012 12:58:04 +0200
From: Georg Bauhaus <rm.dash-bauhaus@futureapps.de>
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Subject: Re: A new name for software failure : the glitch
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Date: 2012-08-05T12:58:04+02:00
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On 05.08.12 09:41, Dmitry A. Kazakov wrote:
>> (Now ducking away to write my trading algos in Ada.;-)  )
> Ada is not so important as the attitude to the language and software design
> it promotes.

Regarding this case, I have heard that NY Stock Exchange
had introduced a new way of supplying liquidity to which
Knight Capital's system had somehow reacted in the wrong
direction.

A possible speculation about the cause of this failure,
then, involves that a piece in the system had been replaced
without performing a comprehensive check of the contracts.

That is, one piece had either continued trading with outdated
assumptions driving it, or had started trading with up to date,
but wrong assumptions about the new contracts that would now
apply.