Rethinking mistake in the age of Algorithms: Quoine Pte Ltd v B2C2 Ltd

• Main Authors: OOI, Vincent, SOH, Kian Peng
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2020
• Subjects: Contract Law; Artificial Intelligence; Cryptocurrencies; Fintech; Artificial Intelligence and Robotics; Contracts; Science and Technology Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/3198; https://ink.library.smu.edu.sg/context/sol_research/article/5156/viewcontent/Rethinking_Mistake_Age_Algorithms_av.pdf
• Institution: Singapore Management University

Good traders remove emotion from the decision-making process. Automated trading algorithms have enabled this, allowing one to trade round the clock, and without the constant need to monitor one’s investments. But software has gremlins. Given the vast amounts of money involved in such trades, it was only a matter of time before disputes involving automated trading software came before the courts. The decision in Quoine v B2C2 (“Quoine”) represents the first time an apex court in the Commonwealth has ruled on the applicability of contractual principles to situations involving automated trading software.