Oops, Again: Bargain Basement Edition

You know those technical issues that the stock exchanges were having a little while back? They’re still here.

Some premarket transactions in nine big-name stocks were canceled Thursday morning, in the latest example of the trading glitches that have plagued markets this year…

The bad trades came from a securities firm that was sending transactions based on faulty data, said people familiar with the problems. It wasn’t clear where the bad data originated.

Just a little glitch, right? Not exactly.

For example, in the seconds before 9:30, several bursts of Citigroup trades pulled the stock’s price down from about $36 to as low as $20.10, according to a Wall Street Journal analysis of FactSet data. Most of the 49 Citigroup transactions that were later canceled were 100-share orders at $29.99.

The same period saw 101 canceled trades in Hewlett-Packard’s stock, which briefly jerked the price from $14.55 to as low as $3.06. In all, the exchange canceled 402 trades involving 141,629 shares, according to data provider Nanex.

The bad numbers hit only the Nasdaq. The Big Board, BATS and Direct Edge said they weren’t affected. Almost enough to make on pine for the buttonwood tree. But not quite.

Nasdaq Cancels Trades Over a Firm’s Bad Data [WSJ]
Nasdaq Cancels Some Trades in Goldman, Sprint After Error [Bloomberg]
Nasdaq reschedules botched WhiteHorse IPO [Reuters]

(hidden for your protection)
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21 Responses to “Oops, Again: Bargain Basement Edition”

  1. Buy Side Bookie says:

    Odds on this being UBS?

  2. Just a raw dude says:

    What about the technical problems Dealbreaker is still having?

    • DB IT Rodents Union says:

      We just found out Matt blew our whole 401(k) dealing in MBIA bonds and off the run ABS, just so he could y'know have a bit of skin in the game whilst watching their performance on Bloomberg. Nowadays I'm just kind of "meh" about the whole thing.

      • VonSloneker says:

        He didn't blow the whole 401(k) on MBIA bonds…he did buy a little something for the office.

        – Intern in charge of keeping the DB-Margaritaville Marg Machine churning

  3. VonSloneker says:

    "Almost enough to make [ONE] pine for the buttonwood tree." Other than that, no concerns.

    – Ed.

    • Really Hungover Guy says:

      Thank you for that, I kept looking at that thinking I should know what it means but not quite being able to place it.

  4. Felix says:

    oooops I did it again…..I played with your heart….

    -Hopefully stuck in your head now and not just mine

    • VonSloneker says:

      Yup stuck in my head…that is, the red leather body suit, not the song

      – Erstwhile Mousketeer

  5. Lyle says:

    Didnt UBS pull this shit in Australia a couple of weeks ago? lobbed several billion off ANZ Bank.

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  12. amber says:

    All of us just found out Shiny blew the complete 401(k) coping within MBIA provides as well as journey function AB MUSCLES, just and so he could possibly y'know get a certain amount of pores and skin inside the sport while enjoying their own performance with Bloomberg. Currently I am just just kind of "meh" in relation to the whole thing.

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