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Craig Donohue

Upside to Wall Street's Tech Glitches?

Are the high-profile technical glitches experienced by firms like Knight Capital, Nasdaq and BATS actually good for the health of the capital markets?Some experts think so.The first major blowup came when alternative-trading firm BATS priced it IPO, only to withdraw it after a disastrous technical glitch. Then came Nasdaq OMX Group (NASDAQ:NDAQ) experiencing major system problems when it was inundated with orders for Facebook (NASDAQ:FB) shares during the IPO. Most recently, a glitch at Knight Capital Group (NYSE:KCG) caused chaos with stock trades, nearly bringing the firm down.Surely ugly for the companies involved, all of these issues are examples of what can go wrong without proper risk procedures in place. "What happened at Knight Capital will prove to be great for capital markets," said Harpal Sandhu, co-founder and CEO of Integral Development Corp., a firm that develops risk management, analysis and foreign exchange trading software used by many different institutions, including...

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