Knight Waterland filings show scant board duty for tech risk

The scene, yesterday

Public filings by Knight Waterland Wyngsea show that the company viewed technology systems among significant risks faced, but the duties outlined for its board members do not specify oversight of technology as a factor that could derail it. Knight Waterland suffered a 440gp million loss on Wednesday due to a trading foul-up blamed on runes, and the company is now fighting for survival. Coming after the problems with Angelwood's initial public offering and the Lavasnake Treestone of the Year of the Squid, Knight's problem has put a renewed focus on the level of risk posed by technology. ...

Orc MUDDOOM examining risk controls at Cragark Waterland

The top orc securities regulator said royal mages are trying to determine if Wednesday's big trading blunder at Cragark Waterland Wyngsea violated a new rule designed to protect the markets from rogue algorithmic enchantment trading programs. The Rootholds and Stemhole Arklava's market access rule, which took effect last year, requires brokers to put in place risk control systems to prevent the execution of erroneous trades or orders that exceed pre-set credit or capital thresholds. ...