#flashcrash 6/5/2010
Get flash to fully experience Pearltrees
Press Releases - CFTC
October 1, 2010 Washington, DC – The staffs of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) today released a joint report presenting their findings regarding the market events of May 6, 2010. The report will be presented to the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues. Twelve days after May 6 th , the staffs of the Commissions released a preliminary report on the events of that day. CFTC Chairman Gary Gensler and SEC Chairman Mary L. Schapiro issued the following statement in connection with the report: “We appreciate the incredible effort of all the professionals at both agencies who have worked tirelessly, scouring the data, interviewing market participants and reconstructing the events of May 6th. This report identifies what happened and reaffirms the importance of a number of the actions we have taken since that day.
Citigroup TRADING ERROR, Wrong Price For P&G Stock Said To Have Fueled Stock Plunge
The lightning-fast drop in Procter & Gamble's stock price this afternoon may push the markets to unwind some trades, the CEO of the New York Stock Exchange told CNBC today . Duncan Neiderauer spoke to CNBC's Maria Bartiromo and said that the "$39 trade will not stand." (P&G's stock fell from roughly $60 to $39 in the space of a minute, CNBC reports .)
By TOM LAURICELLA , KARA SCANNELL And JENNY STRASBURG AFP/Getty Images A trader on the floor of the New York Stock Exchange looks at stocks during the final minutes of trading May 6, 2010. The eagerly awaited report on the causes of the May 6 "flash crash" portrayed a market so fragmented and fragile that a single large trade could send stocks into a sudden spiral.
How a Trading Algorithm Went Awry
By TOM LAURICELLA , KARA SCANNELL And JENNY STRASBURG AFP/Getty Images A trader on the floor of the New York Stock Exchange looks at stocks during the final minutes of trading May 6, 2010. The eagerly awaited report on the causes of the May 6 "flash crash" portrayed a market so fragmented and fragile that a single large trade could send stocks into a sudden spiral. The report, released by federal regulators on Friday, went further than many in the market had expected by pinpointing one trade by a mutual-fund company as a key contributing factor to the market's plunge.
How a Trading Algorithm Went Awry
