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Loyalty had nothing to do with this. The company lost $400 million dollars in about 45 minutes. That's 9 million dollars a minute or 150 thousand dollars a seco
by Kranar 3y ago
Loyalty had nothing to do with this. The company lost $400 million dollars in about 45 minutes. That's 9 million dollars a minute or 150 thousand dollars a second.
I work as a quant and remember that morning vividly. It was as if trucks of free money were falling from the sky to the point that many of us were skeptical that these were actual trades; we were convinced that this was some kind of bug at the exchange and these trades would get broken.
Mistakes like this do happen, in fact it's not thaaaat uncommon. What made this situation so unusual is that it just kept going and going.