The latest exchange SNAFU announcement has been made with a British accent. Unfortunately for the Liffe, it’s the one part of Euronext that the IntercontinentalExchange and its crack technology department, the New York Stock Exchange, is keeping. Read more »
Someone who shouldn’t have had access sent the minutes to someone who didn’t have access and who didn’t have a calendar or something. The rest is history. Read more »
It turns out that proxy battles north of the border are not decided “based on the number of votes received by these nominees and the typical turnout for contested Canadian elections,” much to Jana Partners’ chagrin. Read more »
A trader at RBS has admitted to making a fat finger trade in the EUR/CHF pair Monday, a spokesperson for the bank told Reuters. The error caused a series of algorithmic trades from other traders to flood the market, sending the pair spiking for a short period of time. The trades which took place on the EBS foreign exchange platform sent the currency pair to spike to levels just shy of 1.21, the highest levels seen in a long time…EBS daily charts showed that the euro surged to 1.20928 francs from around 1.2015 within three minutes on Monday as the algorithmic traders went berserk…Initial reports had claimed that it was RBS’s algorithms that caused the spike. However, those reports were later proven wrong. It turns out that it was a simple fat finger trade that caused the spike and algos reacted to send the pair even higher. [MarketWatch, Reuters]
7/29: Credit Suisse writes to inform clients that the rumors of suckage are, in fact, true.
8/21: One more time for the cheap seats!