A Software Bug in a Trading Program at the ________Stock

question 14

Short Answer

A software bug in a trading program at the ________Stock Exchange caused a securities firm to lose $225 million in 2005.

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Definitions:

Cheques

A document that is written, dated, and signed, which gives an absolute command to a bank to pay a specific amount of money to the recipient.

Bank Clearing Time

The process and time required for checks and other transactions to be processed through a bank or clearinghouse and the funds to become available.

Processing Time

The time required to complete a particular process, such as manufacturing or data processing.

Weighted Average Delay

The mean delay time, taking into account the importance or weight of each contributing factor to the overall delay.