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From: Florian Weimer <fw@deneb.enyo.de>
Newsgroups: comp.lang.ada
Subject: Re: A new name for software failure : the glitch
Date: Sat, 11 Aug 2012 21:22:15 +0200
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* Nasser M. Abbasi:

> On 8/4/2012 1:18 PM, francois_fabien@hotmail.com wrote:
>> In finance, software failure can be very expensive very fast.
>> http://dealbook.nytimes.com/2012/08/02/knight-capital-says-trading-mishap-cost-it-440-million/
>>
>
> fyi;
>
> AdaCore issued statement on this error:
>
> August 07, 2012
>
> http://eon.businesswire.com/news/eon/20120807006365/en/AdaCore/Knight-Capital-Group/high-frequency-trading
>
> some quotes

| Last week an error in some automated high-frequency trading software
| from Knight Capital Group caused the program to go seriously amok,
| and when the cyberdust cleared, the company was left holding the
| bill for almost a half-billion dollars to cover the erroneous
| trades.

There are now reports that it wasn't a software error, that is, the
software worked as specified.

The quality of typical Ada marketing material is atrocious.