Cinnober will participate at the Bloomberg Enterprise Technology Summit

Blog - 2012.12.10

Cinnober’s CEO Veronica Augustsson will participate in a panel discussion at the Bloomberg Enterprise Technology Summit in London on Tuesday December 11. The topic is “When computers malfunction”, and in the context of the financial industry, the issues are evident. 

How can companies protect themselves from the self-inflicted technology-induced incident that befell Knight Capital, resulting in losses of $470 million? CEO Thomas Joyce said the computer glitch was an “infrastructure and networking problem” and not about quantitative tools. 

Similar incidents tied to technology failures marred the Facebook IPO and resulted in the cancellation of the Bats Global Markets IPO. As trades become increasingly complex, fast, and interconnected, how are companies and exchanges preventing costly computer errors? Do CTOs know what’s buried in some line of code or what unanticipated change will lead to a company-threatening failure? How are operations people preparing for Black Swans?

The other panel members are Mark Hemsley, Chief Executive Officer, BATS Chi-X Europe, and Tim Wildenberg, Head of Equities Electronic Trading, EMEA, Citi. Nandini Sukumar, the European market structurec Correspondent for Bloomberg News, will moderate the panel.

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