Knight Capital's (KCG) Joyce Comments on Epic Trading Error -'Technology Breaks'
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Traders are paying attention to comments from Knight Capital Group (NYSE: KCG) CEO Thomas Joyce on Bloomberg TV following the company's epic $440 million in trading losses yesterday due to erroneous orders on NYSE-listed securities after a software error.
Shares of KCG are down 45 percent to $3.81.
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- Joyce said all hands are on deck.
- Joyce said it's hard to comment on credit lines
- Says software bug now out of the code
- He said he has confidence in the current operating environment
- Joyce said client were alerted immediately to the bug
- 'Technology Breaks' Joyce said
- He said they did not harm any investors
- Says company open for business, and reasonably busy.
- Says clients returned to market-making unit by day's end.
Shares of KCG are down 45 percent to $3.81.
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