Trading was disrupted on the New York Stock Exchange, or NYSE, as a result of new trading software installed at Knight Capital Group, a brokerage firm.
It "resulted in Knight sending numerous erroneous orders in NYSE-listed securities into the market. This software has been removed from the company’s systems," the company's press release read today.
Luckily, clients of Knight Capital were unaffected, but the company itself took a $440 million hit, the Wall Street Journal reported today in the story "Knight Capital: Trading error cost firm $440 million."
The glitch affected trading in more than 150 stocks. Ultimately, the NYSE cancelled trades in six stocks made yesterday between 9:30 a.m. and 10:15 a.m.
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