I thought we’d have another decade or two until the machines took over.

The scariest part of this single program was that its millions of quotes accounted for 10 percent of the bandwidth that is allowed for trading on any given day, according to Nanex. (The size of the bandwidth pipe is determined by a group made up of the exchanges called the Consolidated Quote System.)

via Mysterious Algorithm Was 4% of Trading Activity Last Week – CNBC.com – US Business News – CNBC.