In the Matter of Knight Capital Americas LLC¶
U.S. Securities and Exchange Commission. (2013). In the Matter of Knight Capital Americas LLC: Order Instituting Administrative and Cease-and-Desist Proceedings, Exchange Act Release No. 70694.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- Rules-of-Engagement Ambiguity
- Military operations (rules of engagement) — the doctrinal home; self-defence triggers, civilian-near-combatant judgments, and graduated-response thresholds left underspecified in peacekeeping, counterinsurgency, and joint operations (Mogadishu, Srebrenica, early Iraq COIN). Police use-of-force policy — the compliance/control/deadly-force transitions left undefined, producing both excessive-force and hesitation-cost events; the post-Ferguson debate is about which way to err. Emergency management and incident command — in-fire authority to expand a perimeter, evacuate, or commit reserves left ambiguous between the incident commander and external authorities, costing tempo when tempo determines outcome. Cybersecurity incident-response playbooks — when to isolate a host or kill production traffic: crisp on paper, ambiguous under live attack within the decision window. Trading-desk kill-switch governance — pre-trade controls and escalation paths underspecified in fast markets, the structure documented in the Knight Capital and London Whale post-mortems
This sourceThe SEC's Knight Capital order finding no pre-submission controls against erroneous orders, no incident-response procedures and no guidance on when to disconnect a malfunctioning system. The SEC's finding that a technician failed to copy new code to one of the eight SMARS servers, leaving the obsolete Power Peg code in place there. The SEC's findings of no incident-response procedures, a 45-minute run of erroneous orders during which rolling back the deployment worsened matters, and losses of over $460 million.
Supported in partVerified against the source
- Military operations (rules of engagement) — the doctrinal home; self-defence triggers, civilian-near-combatant judgments, and graduated-response thresholds left underspecified in peacekeeping, counterinsurgency, and joint operations (Mogadishu, Srebrenica, early Iraq COIN). Police use-of-force policy — the compliance/control/deadly-force transitions left undefined, producing both excessive-force and hesitation-cost events; the post-Ferguson debate is about which way to err. Emergency management and incident command — in-fire authority to expand a perimeter, evacuate, or commit reserves left ambiguous between the incident commander and external authorities, costing tempo when tempo determines outcome. Cybersecurity incident-response playbooks — when to isolate a host or kill production traffic: crisp on paper, ambiguous under live attack within the decision window. Trading-desk kill-switch governance — pre-trade controls and escalation paths underspecified in fast markets, the structure documented in the Knight Capital and London Whale post-mortems
Verification¶
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