Oops

[Marc Clifton]

Several market watchers said they heard a major firm may have accidentally released an errant program, where a trader accidentaly placed an order to sell $16 billion, instead of $16 million, worth of e-minis, the futures contracts tied to equity indexes. Clickey[^] Marc

[Dinobot_Slag]

Oops indeed. I was watching the ticker as it happened, thought the world may be ending. :laugh:

[Dinobot_Slag]

Traders also also noticed errant trades among exchange-traded funds, including the iShares Russell 1000 Value Index Fund (IWD), which dropped from close to $60.00 to 7.5 cents Boy would I be upset if a glitch triggered my stop loss and sold my $60 etf at 7.5 cents. Luckily I was trading the other side of the market (as anyone sane should at this point).

[Ravi Bhavnani]

Ugh. /ravi

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[Rama Krishna Vavilala]

Ravi Bhavnani wrote:

Ugh

It was found that the errant program was this[^]. ;P

[Ravi Bhavnani]

Damn.  I really must stop writing urgent codez in VB.  :-D /ravi

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