Knight Losses Prompt Calls for Stronger SEC Monitoring
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The trading losses at Knight Capital Group Inc. renewed pressure on Washington regulators to prove they are equipped to protect investors in markets that are increasingly computerized and fragmented.
The software problem, which disrupted the market opening Aug. 1, has cost Knight $440 million and left the company looking for a financial infusion. It comes on the heels of other high-profile technological lapses that botched the initial public offerings of Facebook Inc. and Bats Global Markets Inc.