Excellent post janice. I thought there were automatic safeguards(kind of like a circuit breaker in most fairly modern homes)that would kick in almost instantly as a problem in volume etc. was detected by the NYSE's or the SEC's tracking software.
So: Is Knight toast or will they weather this massive storm?
One poin that not all KCG traders might not be aware of is that it was Knight's request to customers such as Scottrade and TD Ameritrade to not route their orders through Knight until they could locate and fix the error. So will those brokerages come back once the glitch is identified and correctd!
IMO my best guess is maybe, but I'm not counting on it. When your business and reputation is the fast, correct routing of orders and you fail in such a massive and public way it strongly suggest that it's a matter of not if, but when the "Fat lady" starts singing.
I'm sure these and other questions have been the hot topic on this board for almost two days, but I can't read all your posts.
However is their some entry point where some of you might take a chance and take a position in KCG?
jackson
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