Knight Capital Debacle - Another warning sign re systemic risk in our current system?

The Knight Capital disaster, along with the many technical problems that have preceded it, should be taken as a sign of how much unseen technology risk has entered the financial system in recent years, Patterson says. Computer trading systems and exchanges have now gotten so complex that the the next Knight Capital may be a "Too Big To Fail" bank, which wakes up to find that a similar "glitch" has blown a multi-billion-dollar hole in its balance sheet. Unlike Knight Capital, that glitch will necessitate another taxpayer bailout and further undermine confidence in the global market system.

So an article on this caught my eye (see links below). Was wodering if any members out there with some insight in this area might be willing to expand & opine...

Video - http://finance.yahoo.com/blogs/daily-ticker/knight-capital-implosion-lat...

http://www.forbes.com/sites/investor/2012/08/06/knight-capital-implosion...

http://www.reuters.com/article/2012/08/06/us-knightcapital-deal-financin...

http://www.latimes.com/business/la-fi-0803-trading-chaos-20120803,0,1527...