this post was submitted on 04 Aug 2023
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Knight Capital - They were biggest equities trader in 2012. They manually deployed code and didn't get configuration right and it reactivated "Powder Peg". They lost $460 M in 45 minutes and went bankrupt.
The program was called "Power Peg" for those googling for it. It was a test program not intended to be used on the live market.
The Worst Computer Bugs in History: Losing $460m in 45 minutes
I get the impression that power peg is a risky google.
Thanks for sharing. This is exactly the kind of blunder I had in my mind when asking the question, a seemingly silly mistake like forgetting to do something causing way too much trouble!
Talk about a Nanosecond Buyout!