The Deadly Consequences of Rounding Errors
https://slate.com/technology/2019/10/round-floor-software-errors-stock-market-battlefield.html [slate.com]
2019-11-04 04:04
In politics, stock markets, space, and the battlefield, tiny software calculation mistakes have had enormous consequences.
Sometimes those fractional cents aren’t stolen—they simply vanish. In the early 1980s, a new stock index at the Vancouver Stock Exchange tracked a steady and mysterious loss in value. An investigation revealed that floor() was being used instead of round(), with the lost fractions of cents accumulating to almost a 50 percent loss of value in 22 months. The programming mistake was finally fixed; the index closed around 500 on a Friday and reopened the following Monday at over 1,000, the lost value restored.
source: ML