“Fat finger” could lead to tougher rules on Wall Street
Thursday, the U.S. stock market declined historically, after a trader had made a mistake typing “billion” instead of “millions” of dollars, error known as “fat finger”.
The decrease resulted from the American Stock Exchange determined other stock losses as well, so that U.S. authorities will tighten the rules.
This error has fueled investor fears about the situation in Greece and other countries in the euro area, which could face similar problems.
Thus, exchanges have seen substantial losses.
However, notes The New York Times, the electronic edition, while businesses and analysts are worried that such errors could destabilize stock markets in the future, federal authorities do not hurry to take action for better regulation of the electronic trading system .
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Posted by MihaelaCiovirta on May 9 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
