Whilst tech whizzes aren’t new to Wall Street but as a new breed of "traders who code" has emerged, some execs are wary of blurring the role of trader and techie too much, worried that a few lines of glitchy code written by a relative novice could wreak havoc.
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Wall Street Erases the Line Between Its Jocks and Nerds
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Some executives are wary of blurring the roles too much, worried that a few lines of glitchy code written by a relative novice could wreak havoc. Firms as big as Knight Capital Group have been brought down by computer snafus. And remember the rogue traders that cost JPMorgan and UBS Group AG billions of dollars? A rogue coder, deliberately planting snippets meant to siphon off funds to a personal account or blow past risk limits, could be just as dangerous.
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