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Morgan Stanley Brokerage System Said Beset By Glitches

Morgan Stanley HQ

Morgan Stanley Smith Barney's new brokerage technology platform has been beset by glitches that have frustrated the firm's financial advisers and made a long and costly merger more expensive, brokers and other people familiar with the situation said.

Knight Capital Wall Street's Risk Wake Up Call

Wall Street

Wall Street banks and brokers are poring over their trading systems and rethinking the way they test software to make sure they don't become the next Knight Capital Group, the trading firm whose survival was imperiled by a software glitch on Wednesday.