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Non-Tech : Auric Goldfinger's Short List

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To: pilapir who wrote (9937)6/3/2002 11:16:41 AM
From: StockDung   of 19428
 
11:03am 06/03/02 Knight says stock slide due to glitch in trading system (NITE) By Tomi Kilgore

Knight Trading (NITE) , which has been halted since before the opening bell for news pending, said there are no corporate developments that would warrant any unusual trading in its stock. The market maker added that it has "identified and are working to correct" a glitch in its trading system that affected only Knight's stock. "The glitch generated a large series of sell limit orders in Knight stock, which were routed to various destinations and disrupted trading in our security," Knight said in a press release. "We are working with various execution centers to correct these erroneous orders in Knight's stock." Prior to the halt, the stock was down 53 percent at $3.
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