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Knight Capital (KCG) is set to resume its full market-making activities on the NYSE on Monday...

Wednesday, August 8, 2012, 4:25 AM ET
Knight Capital (KCG) is set to resume its full market-making activities on the NYSE on Monday after yesterday gaining much of its market share back. Knight reportedly spoke to ~90 potential suitors about rescuing the firm, with rival Citadel offering a $500M loan in return for a 10-20% stake and control of Knight's Hotspot FX trading platform.

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This news story has 3 comments:

divinecomedy Comments (421)

I find it hard to believe that someone would be willing to lend money to a business operation that can lose its entire capital in less than an hour. As someone who knows about writing good software, there's simply no guarantee that a similar bug will not occur in the future no matter the amount of testing done.

8 Aug 2012, 06:40 AM Reply Like

Alpozin Comments (14)

I don't see any reason why anyone would not lend money to KCG. if they remove the buggy software and install the most recent stable version, they are back in the business of printing money. As far as future bugs are concerned, they just have to ensure they fully test the software before they roll it out. I am sure they have learned from their mistake.

8 Aug 2012, 04:24 PM Reply Like

godalmightee13 Comments (378)

Maybe the programmer left the kill switch out - opps

9 Aug 2012, 04:48 AM Reply Like

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