Quote:
Originally Posted by collie1228
On NPR this morning they said that a $16 Million trade was erroneously entered as $16 Billion (with a B!) and in nanosconds the program trade computers all shouted "sell, sell sell! I thought I remembered that the exchanges had put some rules in the system several years ago, which were intended to stop, or minimize, the tanking of a market when the computers all kicked in their sell orders in unison. Am I mis-remembering?
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The measures you are talking about were REMOVED in 2007, I believe. Will check further.
