Do you think the markets are safer in the wake of the 'flash crash?'
On May 6, The Dow Jones industrial average lost nearly 1,000 points in a matter of minutes and then quickly rebounded in an event that is known as the 'flash crash.' Now, an investigation by the SEC and CFTC has determined that the crash occurred when a mutual fund company executed a computer trading algorithm to rapidly sell billions of dollars of financial contracts. In response to the episode, the SEC and the major U.S. exchanges agreed on a six-month pilot program that briefly halts trading of some stocks that mark big price swings.
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Posted by: StanKlein | October 1, 2010 8:22 PM
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