🔥 "How One Deployment Bug Burned $440 Million in 45 Minutes
" 🔥

On the morning of August 1, 2012, Knight Capital Group was one of Wall Street’s powerhouses. They handled more U.S. stock trades than any other firm—millions of orders a day.

That morning, they were deploying new software to their automated trading system to take advantage of a new NYSE feature called the “Retail Liquidity Program.”
The deployment seemed routine.

But lurking inside Knight’s codebase was a forgotten feature flag—a piece of test code from 8 years earlier known internally as Power Peg.
It was never meant to run in production again.
But on this day, a critical oversight brought it back to life.

Here’s what happened:

Knight updated the software on 7 of their 8 servers.

One server was missed during deployment.

The missed server still had the old Power Peg code active.

Instead of processing orders normally, it started rapidly buying and selling stocks at market price—over and over again.


The result?

The bot began flooding the market with bad orders, sometimes buying high and i...


😮 Want to know how it ends?


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