Trouble in paradise? The interconnected world of broker algos and exchanges has been facing some stress lately. After the Facebook IPO, brokers led by the outspoken CEO of Knight Capital, were screaming that NASDAQ’s failure to open the IPO promptly cost them millions of dollars. Then of course, there was the Knight algo disaster which was allowed to go on for 45 minutes. This has stirred the debate of kill switches at the exchange level.
The latest battle amongst the brokers and exchanges is being fought about a proposal by NASDAQ
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