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Knight Capital’s software snag causes big 3Q loss

October 18, 2012 • Business


FILE – In this Aug. 1, 2012 file photo, specialist Peter Giacchi looks at the price of Knight at his post on the floor of the New York Stock Exchange. Knight Capital Group said it lost $764.3 million in the third quarter because of a software glitch that flooded the market with trades, causing dozens of stocks to fluctuate wildly. (AP Photo/Richard Drew, File)

The Knight Capital Group Inc. trading firm said it lost $764.3 million in the third quarter because of a software glitch that flooded the stock market with trades one day in August, causing dozens of stocks to fluctuate wildly.

Knight said Wednesday that the software glitch cost it $461.1 million in financial losses. The company also took a charge of $143 million to reflect its weaker Login to read more

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