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HFT firms ‘learned a lot’ from Knight Capital loss
"If things go wrong, they can go wrong very quickly and in a big way," says Tower Research Capital chief risk officer, Marc Vesecky
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High-frequency traders "learned a lot" from the devastating $461 million trading loss suffered by Knight Capital in August 2012, according to Marc Vesecky, chief risk officer (CRO) of Tower Research Capital, a high-frequency trading (HFT) specialist.
Speaking during a panel session at the Risk USA conference in New York on October 21, Vesecky listed a battery of controls in use at Tower and said they were important because "these things can just happen so quickly, as Brian's old firm
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