Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Diamond Jim who wrote (8448)	10/16/1998 7:08:00 PM
From: Jeffrey D	Read Replies (1) of 42834

* OT - The Perils Of Electronic Trading Taken from the AMAT thread. Jeff <<To: Clark Hare (25407 ) From: Brian Kerecz Friday, Oct 16 1998 5:56PM ET Reply # of 25410 Found this on another thread: Trader sends market diving by leaning on keyboard 5:11 p.m. ET (2112 GMT) October 15, 1998 PARIS — Electronic trading may be cheap, but leaning on the keyboard can be costly. A mystery plunge in the value of French 10-year bond futures on July 23 was triggered by a bank trader at Salomon Brothers in London who accidentally and repeatedly hit the "Instant Sell'' button, investigators said Thursday. A wave of 145 separate sell orders sent the price diving on electronic screens. "The disputed trades arose as a result of the prolonged, unintentional and inadvertent operation of the 'Instant Sell' key,'' said an investigation by computer software firm Cap Gemini and security group Kroll Associates. Salomon Brothers declined to comment on any losses.>>

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