How One Forgotten Server Lost $460 Million in 45 Minutes

On August 1, 2012, before the stock market even opened, Knight Capital's systems sent 97 warning emails. Nobody acted on them. 45 minutes after the opening bell, the company had lost more than $460 million.

Here's how old code nobody removed, one server missed during an update, and ignored warnings caused one of the most expensive software failures ever, explained simply, with lessons for any business website.

TODAY'S LESSON: Small habits prevent big disasters. 1. Remove code you don't use. 2. Every release needs a checklist and a second pair of eyes. 3. Every warning needs an owner, or it's just noise.

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Dramatised true story. Characters and screens are illustrations. Facts are from the SEC's order of October 16, 2013 against Knight Capital Americas LLC: sec.gov/litigation/admin/2013/34-70694.pdf