Reuters names e-mini S&P ‘flash crash’ seller

Yes, we need a transaction tax on any trades that lasts more than one day. :D

So much for Bogle, Buffett and all the FTT supporters. YOU are the danger sitting on you fat ass collecting dividends, waiting for the market to rise indefinitely and all going out out at the same time/hedging in an improper way when things get ugly...
 
Quote from ASusilovic:

Regulators and exchange officials quickly focused on Waddell’s sale of 75,000 e-mini contracts....
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A whole 75,000 lot shebang, eh? Now, c'mon, you know how many lots were cleared on that day? Nearly 7 MILLION lots!

Ya think 1/100th of total daily volume could do so much damage? Gimme a fucking break!
 
Quote from schizo:

A whole 75,000 lot shebang, eh? Now, c'mon, you know how many lots were cleared on that day? Nearly 7 MILLION lots!

Ya think 1/100th of total daily volume could do so much damage? Gimme a fucking break!
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It could have if the sale was made during the peak of a panic near the daily lows, but it would be only temporary
 
It's a mutual fund. They are not known to use advanced market impact algos to enter the market( LOL). With the tension that was already in the market, 75000 lots traded stupidly may sure have triggered the meltdown.
 
If the 75,000-contract sale was closed, the question is when??
A 100-point bounce is worth 75000 X 100 X 50 = $375 million if sold at the bottom.
That firm might've lost a fat wad of cash with that trade.
No need to fine the morons.
 
BTW why the hell is SEC so bent on investigating only the selloff? What about the subsequent 70% recovery? Is that considered "normal"? To think you can have a short-covering rally of that magnitude after more than a 1000 point drop on the same day is unheard of.

Just exactly who the hell were behind the buying frenzy?
 
What we want to know is: Where did they sell from and where did they cover?
(and how much they made in the process and could another HF repeat the process?)
 
Quote from Pekelo:

What we want to know is: Where did they sell from and where did they cover?
(and how much they made in the process and could another HF repeat the process?)
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I would love to know also. Could have been a great trade right there.
 
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