7 May 2010

There was no "fat finger" 16 billion trade that led to Wall Street's largest intraday plunge

The story that Wall Street's biggest intraday plunge in history was caused by a trader accidentally entering 16 billion rather than 16 million for the quantity of a sell order is nonsense. A check of the New York Stock Exchange's technical specifications reveals that the maximum quantity for trade orders is 6.5 million shares.

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