It took 19 years to build Knight Capital Americas LLC into the largest market maker on the New York Stock Exchange, but on August 1, 2012, it took only 45 minutes for the firm to be wiped out by an information technology (IT) problem: a change in the company’s software caused it to lose more than $450 million dollars in less than an hour. Although it was ultimately saved from bankruptcy when it was acquired two days later, the terms of acquisition were very unfavorable to the company’s shareholders.
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What happened at Knight Capital on August 1, 2012 at 9.30am? What went wrong?
The Harvard article is attached and the answer has to be only one page and add resources from good websites like Harvard CNN.. ETC. Make sure there is no plagiarism please. It is easy work do not worry : )
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