In The Dark Knight Rises, the villainous Bane attacks the stock exchange and bankrupts our hero, forcing him to relinquish control of Wayne Enterprises, by uploading a series of massive automatic and fraudulent trades.
Unlikely as it seems, this is eerily reminiscent of US equity broker Knight Capital losing $440m yesterday. The huge loss came from orders triggered by a software glitch in Knight’s systems that led to huge price swings in dozens of stocks on Wednesday. “It was a software bug, it just happened to be a large software bug,” Thomas Joyce the Chief Executive said on Bloomberg television with fairly spectacular sangfroid.
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