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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> algorithm

Algorithm created “flash crash”

Posted by RJ and Makay on Oct 01, 2010
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Federal regulators AlgorithmImage recently determined that the May 6 "flash crash" was caused by the use of a computer trading system to sell futures contracts, which led to sudden selling and triggered additional selloffs in an already unstable market, based to an article published by the Wall Street Journal.

According to a joint report from the staffs of the Securities and Exchange Commission and Commodity Futures Trading Commission, the trader chose to use an algorithm to trade E-mini futures, a contract that mimics trading in the S&P 500 stock index.