I'm still waiting, and keeping my eyes on:
NYSE trader updates
http://markets.nyx.com/nyse/trader-updates/
$KCG twitter feed
https://twitter.com/search/realtime/$KCG
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KCG down due to rumor of algo gone wild
- Thread starter m22au
- Start date
I'm still waiting, and keeping my eyes on:
NYSE trader updates
http://markets.nyx.com/nyse/trader-updates/
$KCG twitter feed
https://twitter.com/search/realtime/$KCG
from the above article:
"An initial review by Knight indicates that a technology issue occurred in the company's market-making unit related to the routing of shares of approximately 150 stocks to the NYSE," said Knight spokeswoman Kara Fitzsimmons in an emailed statement. She said Knight told its clients to send their orders to other firms.
I'm gonna go ahead and enter 100 share trades until I exhaust all my buying power. Then I'm gonna call my broker and tell them I fell asleep on my keyboard and see if they'll bust them for me.
Quote from atticus:
I hear they will all be busted. Hope not. F*ck Knight.
Where'd you hear it?
Should we contact the exchanges before any runing comes out?
Even in the best of times, Knight's PFOF business model screws the exchanges, retail customers, and lit-exchange traders. The exchanges shouldn't allow them to get around their own bug (not to mention cause collateral chaos if these trades are busted).
It's in the exchange's interest to force Knight to eat their losses and own their own error.
Knight is NYSE's biggest customer, biggest trader.