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Preventing Crashes: Lessons for the SEC from the Airline Industry


BY CHRIS CLEARFIELD, ANDRÁS TILCSIK, BENJAMIN BERMAN A small error on August 1, 2012 nearly bankrupted the Knight Capital Group. Code from a discontinued software component was accidentally reused after nine years, and in just 45 minutes Knight’s automated order router had flooded the market with millions of unintended orders. Knight lost $460 million when […]

Business and Regulation

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