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Market Computer Errors Manageable by Industry, Traders Say

Eliminating every trading error is impossible and the way to address malfunctions that have plagued equity markets this year is to improve testing and oversight, industry executives said at a meeting in Washington.

Making risk measures redundant, designing systems that operate independently of each other and making frequent, incremental changes to software will limit the inevitable mistakes by humans and computers, Getco LLC said in written testimony. Assertions that markets were more orderly in the past are baseless and inflexible regulation won’t automatically improve the performance of trading systems, Citadel LLC said.