From "Lone Assassin" to "Lone Software Program"
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From “Lone Assassin” to “Lone Software Program”
By Kara Scannell and Tom Lauricella
Regulators investigating the causes of the May 6 “flash crash” singled out a Midwestern mutual-fund company’s computer-driven trade as the catalyst that sent a shaky market into an unprecedented tailspin.
In a joint report on the events of that day, the Securities and Exchange Commission and Commodity Futures Trading Commission portrayed the trade as the leading force behind the selloff, in which the Dow Jones Industrial Average suffered its fastest decline ever.
Continue reading the article . . .
Related reading:
Waddell & Reed E-Mini Trades Said to Help Trigger May 6 Crash
Bloomberg (1 Oct 10)
Is the Uncertainty of the Flash Crash Still Keeping Investors on the Sidelines?
Wall St. Cheat Sheet (9 Aug 10)
