Knight Capital is useful ammo when countering dangerous management demands on your development time lines. Usually management tries to hide 'problems' like this, but that one was just too big. We don't know all facts yet, but I'm willing to bet management was the primary culprit. Risk management is their game and they obviously dropped ball. To survive, they had to sell a large piece of their equity to their competitors like TD Ameritrade who now basically own them. Too many shops think change control is source control or that prototyping in production is somehow clever (or some other crazy short-cut) but I would argue that every software manager should have a healthy appreciation of the core elements of the System Development Life Cycle like planning, analysis, design, testing, etc. In my universe, these concepts are as immutable as gravity or electromagnetism. Ignore them at your own risk.