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PNL limits are required risk checks. Clearly Knight didn't implement them ...
by veyron 14y ago
PNL limits are required risk checks. Clearly Knight didn't implement them ...
- harryh 14y agoMore likely they thought they had implemented them but they were implemented incorrectly.
- beagle3 14y agoStop-losses are not guarantees of execution. If you're in an illiquid market, or one that moves faster than you're prepared for, then your PNL check may alert you, but it won't save you from the loss.