Knight Capital Failure Due to Development Bug
Explore the Knight Capital failure triggered by a development bug in their trading API system. Understand how outdated test code and deployment errors led to massive financial loss. Learn valuable strategies for software deployment, risk management, automation, and incident response to prevent similar failures in API design and production environments.
We'll cover the following...
On 1st August 2012, a trading firm that goes by the name of Knight Capital lost $440 million due to what they refer to as a "trading glitch." The example of Knight Capital is of particular interest because it took the company 17 years of hard work to build itself, but it went almost bankrupt in roughly 45 minutes. A simple software update caused Knight Capital to lose
Knight Capital had a ...