The Blowout of Knight Capital

My personal perspective of what transpired on August 1st, 2012

One day in the summer of 2012, less than a year after I had started implementing ULLTRA, JP Morgan Market's ultra low latency trading and research platform, we received a call from Jamie Dimon asking about exactly what was happening with the markets on August 1st as word got out that Knight Trading had just imploded in some sort of technical glitch.

At t…