alstor - Slashdot User

Submission + - FAA To Allow Use of Most Electronic Devices Throughout Flights (faa.gov)

Submitted by alstor on Thursday October 31, 2013 @11:50AM

alstor writes: As previously expected, the FAA has announced that most portable electronic devices may be used throughout the duration of a flight. Mobile phones may still only be used in airplane mode without cellular service.

Submission + - Algorithmic Trading Glitch Costs Firm $440 Million (nytimes.com) 3

Submitted by

alstor

on Thursday August 02, 2012 @10:03AM

alstor writes: "Yesterday an update to Knight Capital Group's algorithmic trading software caused massive volume buys and sells, resulting in large price swings on the New York Stock Exchange (NYSE). As a result, the NYSE canceled some of the trades, but today the loss to Knight has been calculated at $440 million. Ignoring adjustments for inflation, this makes the cost of this glitch almost as much as the $475 million charge Intel took for the Pentium FDIV Bug, which might warrant adding this bug to the list of worst bugs. In light of this loss and the May 6, 2010 Flash Crash, perhaps investors will demand changes from firms using algorithmic trading, since the SEC is apparently too antiquated to do anything about it (PDF WARNING)."

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