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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: LPS5 who wrote (10525)10/2/2002 8:10:27 PM
From: TFF  Read Replies (1) of 12617
 
from the nyse on error in mkt today:

"As a result of a clerical error at approximately 3:40 p.m. today, Bear Stearns entered orders to sell $4 billion worth of S&P securities. The orders should have been entered as $4 million. All but $622 million of the orders were cancelled prior to execution. The firm has advised the NYSE that the risk from the executed orders has been substantially hedged."
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