In this video we go over the story of Knight Capital. Knight Capital was a market maker that operated in the stock market as a liquidity provider. They were historically quite successful making hundreds of millions of dollars per year for their investors. However, one day a technician accidentally uploaded the wrong code into their servers. This made their trading systems go haywire and place hundreds of millions of money losing trades. The losses from these trades cost the firm $440 million in just 45 minutes and they had to be bailed out by other institutions.
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By: Wall Street Millennial Title: A Hedge Fund Accidentally Used The Wrong Code, Lost $400 Million Sourced From: www.youtube.com/watch?v=2I1OpFJy4FM
