The big news of the past week has been the meltdown at Knight Capital, where a rogue algorithm caused the firm to comfortably lose $10 million a minute for around 45 minutes. The $440 million loss is roughly 4 times the company’s annual profit, and since the event they have quickly been analyzing funding and buyout strategies.

Several other high-frequency trading related injuries have been sustained in the last few days, so Knight Capital CEO Thomas Joyce was in a tight spot in this interview. He showed up, but not much else, including plenty of hesitant reactions and probable lies.

 

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