Top 5 Software Failures & Causes
Have you ever heard about software testing? Well if you don’t know about it now is the time to. Despite seeing much technological advancement in 2015, this year saw many software failures as well. Below is a list of the top five software failures and their causes. The list is in no specific order. now we will discuss in detailed what is a software failure.
1. Software bug flattens NYSE trader
NYSE trader Plunged into $US440 MILLION loss
An algorithmic trading software bug is being blamed for a day of wild swings at the New York Stock Exchange – and has resulted in the trader placing the dodgy orders reporting a $US440 million pre-tax loss.
What’s been called a “mini flash crash” by Forbes saw 150 NYSE-traded stocks, from General Electric down to minnows, subject to wild swings before things were brought under control. Knight Capital, the firm fingered for the glitch, responded by telling its customers to use other traders – and has since reported the loss as a result of the Wednesday, August 1 software problem.
With a huge chunk of its value wiped out by the glitch, Forbes now says the cost of the bug is roughly equivalent to Knight Capital’s entire market capitalization.