Dear Mystery Algorithm That Hogged Global Financial Trading Last Week What Do You Want
That’s scary. No one knows where the program came from, what it’s really doing, or why it failed to actually execute a single trade–though there are plenty of theories. None of which is comforting. Scarier still: This kind of thing most certainly happens more often than we realize, and it happens without any kind of oversight. The global financial markets that underpin our economies are essentially run by programs that function faster than any human, neither the program’s creator nor any government regulator, could possibly intervene to halt an impending disaster (remember the “flash crash” of 2010?...