Charlie Gasparinoreportson the trade that caused markets to go haywire yesterday, and which caused market maker Knight Capital to lose $440 million.
Read the article here.
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Chawlie FugginMEETbawls to da rescue! Indeud!
Thanks, that’s a pretty good explanation. I remember the ZeroHedge article indicated the crazed algo program was buying high and selling low (at the nano-second level), but perhaps under the compressed time period that’s how it had to behave in order to unload the massive positions in 5 minutes.