It's the imposition of circuit breaker-thinking, imported directly from the flash crash-vulnerable NYSE market, that stopped this Shanghai flash crash from worsening.
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Here's the amazing thing: If a flash crash happened today, we wouldn't know much more about what caused it than we did when the original Flash Crash occurred.
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These conditions triggered the "flash crash" in sterling on Oct.
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That report came out three days before the flash crash.
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These exchanges are susceptible to huge swings like Wednesday's flash crash.
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The knock-on selling effect caused the flash crash on GDAX.
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How many of y'all lost money from the Ethereum flash crash today.
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It was the infamous Flash Crash on the New York Stock Exchange.
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The other is the risk of sudden spasms like the flash crash.
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A hack is suspected as the cause of Kraken Bitcoin flash crash
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So, to prepare investors, Cramer outlined his rules for the next flash crash.
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Just 212 percent were most worried about a "market structure"-generated flash crash.
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Other indexes like Brave New Coin's bitcoin liquid index showed no flash crash.
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Other crashes have occurred since then, including the so-called Flash Crash of 2010.
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Correction: This story was revised to correct that the Flash Crash was in 2010.
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Against the Australian dollar it soared to its highest since a January flash crash.
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Last week's flash crash followed this first disclosure of May's plans by five days.
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In 2010 there was the flash crash, and in 2011 a decline prompted by Europe.
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The second lesson of the flash crash is that volatility will emerge where it can.
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Excluding January's "flash crash," the currency is close to lows last seen in April 2017.
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On Wednesday, the dollar slumped to 1.21463 yen, the lowest since the January flash crash.
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Excluding January's "flash crash", the currency is close to lows last seen in April 2017.
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Investors' case against BlackRock alleged that the fund manager failed to disclose the risk to iShares ETF investors of stop-loss orders in the event of a flash crash, even though BlackRock became aware of the risk in the wake of a 2010 flash crash.
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In the flash crash of 2010, Cramer monitored Procter & Gamble to buy for his charitable trust.
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The so-called "flash crash" was brief, but it's still sending shockwaves throughout the financial world.
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Meanwhile, the British pound was stable this morning, after Friday's "flash crash" to 31-year lows.
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The second 6.5 percent fall was the August 13, 2015 flash crash, also on the NYSE.
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Against the euro, sterling suffered its worst one-day drop since a "flash crash" on Oct.
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Back in late August 2015, after China's surprise currency devaluation, ETFs experienced a sudden "flash crash".
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François Hollande spoke at a dinner in Paris last week, a day before the flash crash.
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Photo: Alex Cranz (Gizmodo)Apple incorporated 42 years ago today, and it's celebrating with a flash crash.
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Against the safe-harbour yen, the dollar hit its lowest since the January flash crash at 106.79.
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The U.S. currency slipped 265% to 289.455 yen, its lowest since its flash crash in early January.
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Against the dollar, it is at its weakest since April 2017, excepting a "flash crash" in January.
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Against the safe-harbor yen, the dollar hit its lowest since the January flash crash at 106.79.
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As for that mysterious flash crash this morning, it probably doesn't have anything to do with Russia.
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It also predicted it would fall to $1.15, its lowest since a flash crash in October 2016.
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That compared with the flash crash lows of $1.1491 and 94.03 pence per euro, Reuters data shows.
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Against the dollar, it is at its weakest since April 22016, excepting a "flash crash" in January.
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On Tuesday, sterling fell below $1.20, hitting its lowest level since a flash crash in October 2016.
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In a "flash crash" in Asia in late August, the lira plunged to 6.47 against the dollar.
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Along with other factors that were happening on that day, that market imbalance contributed to the flash crash.
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Against the Japanese yen, the U.S. dollar fell 0.56% to its lowest level since a January flash crash.
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So when the Ethereum exchange GDAX experienced a flash crash last week, investors were right to be alarmed.
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The RBA minutes sent the Aussie slumping to $0.6833, its lowest since the flash crash of early January.
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In addition, the SEC's staff has analyzed the 2010 "Flash Crash" and the wild market swings of Aug.
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It has since rebounded from its flash-crash lows to trade to about $325 on the GDAX exchange.
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Against the Japanese yen, the U.S. dollar fell 0.43% to its lowest level since a January flash crash.
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The second happened in 2015, when panicked selling on worries of Chinese market weakness caused a flash crash.
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These triggers, designed to maintain orderly trading after the May 2010 flash crash, have never been triggered before.
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Authorities took months, for example, to trace and explain the causes of the Flash Crash of May 2010.
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"Looks like we had a flash crash," said Ray Attrill, head of FX strategy at National Australia Bank.
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"I didn't see stocks trading down to a penny, like you did in the flash crash," he said.
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That's the lowest level since a mystery flash crash in October 2016, according to FXTM, a currency broker.
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The Financial Times reports that the pound is on track for its worst week since last year's flash crash.
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Three contracts he placed on the day of the flash crash were thus executed, however he still made $878,000.
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The greenback earlier slipped to 105.51 yen, the lowest since a flash crash in January that roiled currency markets.
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The third lesson of the flash crash is that markets are not as liquid as they used to be.
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That wasn't as strong as Monday's gain, when it reached a three-year high, excluding the January flash crash.
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That wasn't as strong as Monday's gain, when it reached a three-year high, excluding the January flash crash.
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But high frequency traders have a bad reputation, thanks to the flash crash and a certain Michael Lewis book.
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The next major chart point is a low around 104.10 briefly touched during the "flash-crash" of early January.
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Flash crash The British pound plummeted more than 6% against the dollar in a matter of minutes this morning.
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But nobody expected it to start with a currency market "flash crash" that briefly pushed dollar/yen below 105.00.
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ELECTION WORRIES Sterling briefly shot below $1.15 in October 2016 during a so-called 'flash crash' in Asian trading.
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The books will center around a boisterous family of monster trucks named Elbow Grease, Pinball, Flash, Crash, and Tank.
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Currency traders also kept an eye on the British pound, following its "flash crash" against the dollar last week.
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Ironically, the general drop in currency volatility in recent months further adds to the risk of a flash crash.
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Japan's yen, which investors buy in times of risk aversion, rose to its highest since a January flash crash.
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It's weakened more than 2 percent year-to-date and worse still, it experienced a flash crash on Jan.
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To this day, people still come up to me and thank me for that advice during the flash crash.
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It very briefly hit that low in January this year in chaotic trading during a currency market flash crash.
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Last Wednesday, ethereum briefly plunged in a flash crash from above $210 to 10 cents on Coinbase's GDAX exchange.
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Sterling was 2.41% lower at $1.176, its lowest level since the pound's so-called 'flash crash' in October 2016.
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Wall Street had a famous "flash crash" caused by investment algorithms, and no one understands to this day what happened.
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Friday's flash crash which pushed sterling to another 683-year low was yet another reminder of the British currency's vulnerability.
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Japan's yen, which investors buy in times of risk aversion, rose 0.7% to its highest since a January flash crash.
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Even after a rebound from the flash crash, sterling is still below $1.24 and just above €1.11 against the euro.
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The yen will next target 13 per dollar, which is the high it reached during a flash crash on Jan.
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In Cramer's perspective, it's not a matter of if a flash crash will happen again, it's a matter of when.
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In Cramer's perspective, it's not a matter of if a flash crash will happen again, it's a matter of when.
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It reached 1.20523 on Monday, a seven-month high and, excluding the January flash crash, its strongest since early 2018.
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"My view is that the Q3 figures are somewhere between a 'flash crash' blip and a 'new normal'," Liebreich said.
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Sterling plummeted nearly 10 percent to a 31-year low in earlier trading in what traders called a "flash crash".
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Apart from levels hit during a short-lived overnight "flash crash" in October, that was its weakest in eight years.
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In Asian trade on Friday, sterling faced a so-called "flash crash" of selling, diving about 10 percent before recovering. .
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It reached 105.05 on Monday, a seven-month high and, excluding the January flash crash, its strongest since early 2018.
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At a recent symposium, four panels discussed potential causes of the repo flash crash and its implications for year-end.
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Ethereum also briefly plunged from above $300 to 10 cents on one exchange in a flash crash on June 21.
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There are two things to know about the pound's out-of-nowhere "flash crash" at the end of last week.
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The yen, often bought as a safe haven, briefly rose to the highest against the dollar since a January flash crash.
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Navinder Sarao pleaded guilty at a court in Chicago to being the cause of the stockmarket "flash crash" in May 2010.
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Research firm Eurekahedge said February, when markets began tumbling, delivered some of the steepest losses since the May 2010 flash crash.
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Japan's yen, which investors often buy during times of risk aversion, rose 0.7% to its highest since a January flash crash.
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Since then, the pound has recovered slightly from its flash crash but is still down against the euro and other currencies.
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The dollar hit a low of 113 yen before regaining some strength — levels not seen since the flash crash on Aug.
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The British currency had briefly plumbed a two-year low this week at $1.2439 — excluding a "flash crash" episode on Jan.
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Apart from that level, reached during a short-lived overnight "flash crash" in October, that was its weakest in eight years.
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The British currency weakened 0.8% on Tuesday to $603 , the lowest since April 2017, mirroring the "flash crash" on Jan. 3.
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On the trading forum StockTwits, user John DeMasie posted a screenshot of trade history around the time of the flash crash.
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Except for lows plumbed during an October 2016 "flash crash", sterling's Tuesday fall took it towards levels not seen since 1985.
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Meanwhile sterling fell 1.9%, falling below $1.19 to its lowest level since the pound's so-called 'flash crash' in October 2016.
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CNBC's Jim Cramer described the Dow Jones industrial average's nearly 1,600 point plunge on Monday as a "flash crash" of sorts.
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Japan's yen, which investors tend to buy in times of risk aversion, rose 0.7% to its highest since a January flash crash.
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U.K. regulators are set to summon Citigroup officials as they investigate a "flash crash" in sterling last October, the Financial Times reported.
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Sterling plunged to as low as $1.2481, its lowest since the "flash crash" on January 3 when the pound dropped to $1.2409.
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"The moves have partially retraced … however still resemble a flash crash," said Craig Nicol, macro strategist at Deutsche Bank, in a note.
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Japan's yen, which investors tend to buy in times of risk aversion, rose 2456.51% to its highest since a January flash crash.
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S. trade talks were back on, as well as a natural bounce from the wild "flash crash" that rocked markets last week.
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Sterling dropped 0.6% to $1.2490 GBP=D3, its lowest level since January 3 - the "flash crash" when the pound dropped to $1.2409.
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The aforementioned flash crash and its recent notoriety mean that a lot of eyes were watching as its counter steadily ticked down.
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The yen last fetched 105.41 per dollar, and was within striking distance of 105.03, its strongest since the January 3 flash crash.
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They remain short of the record highs reached after a "flash crash" last October, suggesting there may be more room to fall.
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Against the safe-haven yen, the dollar has hit its lowest since the January flash crash and was last at 107.06 yen.
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The book details lessons from the 1962 "flash crash, " the Texas Gulf Sulfur case of 1959 and other pivotal moments in business.
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It is back about $26 and is at its highest against the pound in eight years barring sterling's "flash" crash last October.
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Nanex CEO Eric Hunsader was awarded $750,000 by the SEC today for alerting regulators of suspected irregularities surrounding 2010's flash crash.
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The U.S. currency rose 21% to 2438.63 yen, rebounding from 1.26703 yen, its lowest level since its flash crash in early January.
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If it drops below $1.2439 it would sink to its lowest in more than two years, excluding the "flash crash" on Jan.
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The yen last fetched 105.37 per dollar, and was within striking distance of 105.03, its strongest since the January 3 flash crash.
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Earlier this year, the San Francisco-based start-up reported a flash crash in ethereum and website outages due to high traffic.
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CNBC checked the four exchanges that make up the CoinDesk bitcoin price index, but none showed any sign of a flash crash.
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The circuit breakers were revamped after the May 6, 220, collapse in stocks that came to be known as the Flash Crash.
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Against the safe-haven yen, the dollar has hit its lowest since the January flash crash and was last at 107.33 yen.
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A revamped system was put in place in February 21946 after the last set failed to prevent the May 224 flash crash.
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Market participants described the move as a "flash crash" in major currencies against the yen, driven primarily by technical, not fundamental, factors.
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The currency fell as much as 0.9% to $1.196, the weakest it's been since a mystery flash crash occurred in October 2016.
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Weakness in the euro saw it slip to its lowest level versus the pound since a "flash crash" in sterling on October 7.
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Another focus for investors was an apparent "flash crash" in foreign exchange markets that saw the soar versus most major currencies within seconds.
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"Looks like another flash crash out of Asia," Timothy Ash, head of emerging market research at Blue Bay Asset Management, wrote on Twitter.
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However, Nathan warned that if Nike misses and guidance is down, things could take a turn toward the stock's August flash crash lows.
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The U.S. currency was little changed at 107.16 yen after falling to 106.77 yen, its lowest since its flash crash in early January.
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The new rules were sought following the flash crash in August 2015, when the Dow dropped 1,000 points in a ten-minute period.
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Traders blamed forced margin calls and computer trading for the so-called flash crash but were not quite sure what caused the drop.
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The dollar slid to 110.47 yen flash crash of early January.
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Some analysts had been watching the $43.76 level, where WTI traded on an intraday basis on May 5 during a minor flash crash.
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Against the euro it fell a quarter of a percent to 91.96 pence, its lowest since a short-lived "flash crash" in October.
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Silver futures suddenly dropped before quickly bouncing back in another "flash crash" that renewed fears that computer-driven trading has gone too far.
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Yet the judge also seemed to share the view that Mr. Sarao's role in the flash crash, if he had one, was minor.
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The combination knocked sterling to its weakest in more than two years against the dollar, if a January "flash crash" incident is discounted.
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In the UK, sterling was close to $1.1.119, the lowest it's been since April 2017, not considering the "flash crash" on Jan. 3.
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Afternoon trading would see bizarre moves reminiscent of the 220 "Flash Crash" as the Dow saw successive 220-point declines happen seconds apart.
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The dollar fetched 107.39 yen, having slipped as low as 107.045 on Friday, the lowest level since its flash crash on Jan. 0.93.
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The dollar fell to as low as 105.80 yen, its weakest since its January flash-crash, and last stood at 106.07 yen, down 0.5%.
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The dollar fetched 107.29 yen, having slipped to as low as 0.73 on Friday, the lowest level since its flash crash on Jan. 3.
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GBP/USD is currently 5 percent lower, after falling 10 percent at the low of the "Flash Crash" and 10yr Gilts are 65bp cheaper.
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No blaming the Flash Crash on Waddell & Reed, or some knucklehead in London who may or may not be trying to spoof the markets.
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Philip Coggan joins host Simon Long to explain what's next for the pound in the light of the latest flash crash in its value.
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The Aussie held at $0.6835 after falling to $0.6832, its lowest since early January when a currency "flash crash" briefly took it to $0.6715.
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After all, if Greece was really the reason for the flash crash back then, people would still need to shave and wash their clothes.
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The dollar fell to as low as 2000 yen, its weakest since its January flash-crash, and last stood at 106.07 yen, down 0.5%.
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All of a sudden, the market began to take out its so-called "artificial" flash crash lows as emerging markets around the world collapsed.
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Kraken, a major Bitcoin trading platform, experienced a flash crash that resulted in the price of the cryptocurrency suddenly falling from $8,400 to $75.
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Its GDAX exchange also saw a "flash crash" in late June, when digital currency ethereum plunged from above $300 to 10 cents, before recovering.
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Excluding a "flash crash" one night in October that year, it fell as low as $1.20 and this week found itself back below $1.25.
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The dollar fetched 107.38 yen, having slipped to as low as 107.045 on Friday, the lowest level since its flash crash on Jan. 3.
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On Friday, the exchange said it would credit customers who "experienced a margin call or stop loss order" on GDAX during the flash crash.
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In April 2015, U.S. authorities accused a UK trader with manipulation of the futures market and said his actions helped spark the Flash Crash.
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The dollar fetched 107.42 yen, having slipped to as low as 107.045 on Friday, the lowest level since its flash crash on Jan. 3.
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But wariness remains that there could be a repeat of last January's "flash crash" when massive stop-loss selling swept through holiday-thinned markets.
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The dollar fetched 107.33 yen, having slipped to as low as 107.045 on Friday, the lowest level since its flash crash on Jan. 3.
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In the Flash Crash of 2010 the system got again too complicated and, for a day, the market fell apart (high frequency trading run amok).
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This wasn't a quick dip, but a flash crash that sent the price from $2401 to a low of $2529 in a matter of seconds.
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Sterling plunged 22 percent in a matter of minutes on Friday in what traders said was a "flash crash" driven by computer-initiated sell orders.
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Friday marked the sixth anniversary of the Flash Crash, where the Dow Jones Industrial Average fell almost 1,000 points in just a few mysterious minutes.
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Wynn represented a stark reminder to Cramer that six years after the flash crash, nothing has really changed to stop the market from crashing again.
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Sterling, which fell below $1.20 in a flash crash at the start of October, rose to a three-week high of $1.2650 after Davis' comments.
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Sterling faced a tough time last week, even before a "flash crash" on Friday that sent the currency down almost 21.35 percent in Asian trade.
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BID FOR SAFETY Japan's yen, which investors tend to buy in times of risk aversion, rose 0.7% to its highest since a January flash crash.
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BID FOR SAFETY Japan's yen, which investors tend to buy in times of risk aversion, rose 2456.51% to its highest since a January flash crash.
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It kicked off with a strange flash crash registered by the CoinDesk tracker that momentarily caused the cryptocurrency to appear to plunge by 12 percent.
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The technology would not necessarily prevent events such as the 2010 "flash crash," when the Dow Jones Industrial Average temporarily plunged more than 1,000 points.
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Elsewhere, a rising dollar pushed the British pound down to a fresh six-month low of $1.2480, the lowest since the "flash crash" on Jan.
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Sterling was last up 0.133% at $1.2087 after falling to $1.1959, the lowest since October 2016, when it plunged to $1.1491 in a flash crash.
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Sterling gained on Wednesday afternoon, rising to $1.2189 having fallen as low as $1.1958, its lowest since an October 2016 flash crash, during Tuesday's session.
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The measures were introduced after the 2010 "flash crash," when around $1 trillion in paper value was temporarily wiped from U.S. stock markets within minutes.
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Those gains reverse steep declines from earlier this week, when the pound fell to its lowest level since a surprise flash crash in October 2016.
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Such halts were first introduced after the 2010 flash crash when around $1 trillion in paper value was temporarily wiped from U.S. stock markets within minutes.
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Some ETFs fell well below their net asset value in the August 2015 flash crash — the value of the underlying stocks that are in their portfolios.
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The yen was last down by 292.04% at 106.56, pulling back from a 16-month high of 105.52 it reached overnight excluding the January flash crash.
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The Fed's swerve sent the dollar sliding to 110.67 yen, with its 0.6 percent loss overnight the biggest drop since the flash crash of early January.
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The "flash crash" turned out to be more than a fleeting event, as the pound continued to suffer from fears about the economic effects of Brexit.
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The Turkish lira was down by 0.4% at 5.8452 against the dollar, having plunged Monday by more than 10% in a second flash crash this year.
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While many initially thought the flash crash was the result of nefarious work, GDAX eventually confirmed that there was no indication of wrongdoing or account takeover.
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Coinbase, the parent company that runs GDAX says that it will dip into its company funds to credit customers who were harmed by the flash crash.
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Ethereum has quickly recovered from a flash crash last week, in which the cryptocurrency went from the price of $133 to $0.10 in a few seconds.
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"When you suspect that you've got a flash crash on your hands, you need to be ready with your own Procter & Gamble-like ideas," Cramer said.
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Image: TheBigDataThe British pound suffered a "flash crash" earlier this morning in which it plummeted six percent against the US dollar within a matter of minutes.
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On a chart of CVS, Gordon sees the stock breaking below what he deems a support line stretching from a "flash crash" that happened last September.
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The Fed's swerve sent the dollar sliding to 110.67 yen , with its 0.6 percent loss overnight the biggest drop since the flash crash of early January.
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Earlier this year, the dollar fell to a two-year low of 104.10 yen in a "flash crash" amid worries about slowdown in the global economy.
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In September the Chicago-based firm hired Gregg Berman, who had been one of the SEC's lead investigators on the causes of the 2010 flash crash.
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Elsewhere, the Aussie dollar slipped below key chart support of $0.6832 to as low as $0.6828, a level not seen since an early January "flash crash".
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The same issue contributed to the May 2010 flash crash that sent the Dow Jones industrial average plunging nearly 1,000 points only to recover minutes later.
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Some traders who lost money in this week's ethereum "flash crash" are going to be credited for their losses, the GDAX cryptocurrency exchange announced on Friday.
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Bitcoin appeared to have a flash crash on Tuesday morning after falling over $2596 in a few minutes, but only one index logged the price move.
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Sterling was last up 0.033% at $1.209 after falling to $1.1959, the lowest level since October 2016, when it plunged to $1.1491 in a flash crash.
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The Turkish lira was down by 0.2% at 5.8347 against the dollar, having plunged Monday by more than 10% in its second flash crash this year.
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The yen at one point was 4.4 percent stronger versus the dollar after a flurry of automated orders triggered a "flash crash" in thin Asian markets.
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"We doubt that we will ever learn the truth behind what will go down in financial history books as the short volatility flash crash," he added.
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The yen at one point was 4.4 percent stronger versus the dollar after a flurry of automated orders triggered a 'flash crash' in thin Asian markets.
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Against the Japanese yen, which investors tend to buy in times of risk aversion, the U.S. dollar fell 0.38% to its lowest since a January flash crash.
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The sell-off in August, along with the May 2010 'flash crash' and the August 2011 debt ceiling battle all saw instances where the VIX surpassed 45.
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In 2012, following the Flash Crash of 2010, I worked with my financial regulatory colleagues to put in place harmonized circuit breakers in future and equity markets.
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U.S. stock market volatility, the so-called VIX 'fear index', is higher now than it was at any time during the Bund 'flash crash' turmoil last year.
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Dollar/yen plunged in what many traders described as a flash crash on Thursday, reaching an intra-day low of 105.25 in a technically driven sell-off.
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This incident brings to the mind the flash crash of May 6, 2010, when the Dow Jones Industrial average fell 1,000 points in just a few minutes.
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Whether parity ever happens is unclear, but there are few obstacles on the chart, other than the 225 pence peak hit during sterling's "flash crash" last October.
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Sterling continued its downward trek following a "flash crash" last Friday, with investors concerned about the impact of a "hard exit" by Britain from the European Union.
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Aided by another developer's software, this tactic sparked the 2010 "flash crash" that saw the US stock market lose $1 trillion in value in just 36 minutes.
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The measure was put in place to curb volatility following the 2010 "flash crash," when around $1 trillion was temporarily wiped from U.S. stock markets in minutes.
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The Justice Department inquiry is the latest example of increased scrutiny on speed traders since the "flash crash" of 25, when markets suddenly plunged and quickly rebounded.
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The high-frequency futures trader accused of being behind the May 2010 stock market "flash crash" will be extradited to the U.S., a British judge has ruled.
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The losses accelerated last week as crude prices fell through technical levels, sparking a flash crash that brought WTI to a nearly six-month low of $43.76.
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The yen rose to its highest against the dollar since March 58.573 - barring a flash crash in January - gaining 258.57% versus the greenback at 60 per dollar.
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The yen rose to its highest against the dollar since March 2018 - barring a flash crash in January - gaining 0.38% versus the greenback at 53 per dollar.
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The yen rose to its highest against the dollar since March 2018 - barring a flash crash in January - gaining 0.32% versus the greenback at 105.35 per dollar.
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That is well above a three-decade low of $210 struck in a flash crash a month ago, but far below $1.50 around the June 23 referendum.
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The commission, though, believes source code access may help it better understand the nature of "flash crash" events, which have occurred with increasing regularity in recent years.
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Sterling hit its lowest level against the US dollar since a flash crash in October 2016 on Tuesday, but rebounded after parliament blocked a no-deal Brexit.
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If we look back at market disruptions like the Flash Crash, it is clear that thinly traded ETFs (and stocks) don't fare well in times of crisis.
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A federal financial watchdog is reportedly probing one of the most prominent cryptocurrency trading platforms over a "flash crash" in ether, which ranks among the popular cryptocurrencies.
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LONDON — The pound is heading for its worst week of losses since the "flash crash" in October last year, with analysts blaming UK politics for the poor performance.
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Four years after its proposed creation and six years after the Flash Crash of May 2010, the long-delayed Consolidated Audit Trail is finally showing signs of life.
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Against the dollar the yen climbed 0.5% to 1.12493 yen, its highest level against the U.S. currency since March 2018, barring a flash crash in January this year.
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In June, Citadel hired Glen Nixon, who previously headed a platform called Midas that the SEC purchased to keep tabs on high-frequency traders after the flash crash.
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The dollar was last down 0.3% at 106.97, having only fallen below 0.23 yen per dollar in the January flash crash and then last back in April 2018.
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But analysts seem to apply a different yardstick to the China market and are using this week's flash crash to highlight what they see as China's economic disaster.
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The safe-haven yen has erased almost all of its sharp losses made in a flash crash fall last week and last stood at 0.53 to the dollar.
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Sterling continued its downward trek following a "flash crash" event last Friday, with investors concerned about the impact of a "hard exit" by Britain from the European Union.
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The pound plunged to as low as $1.1983 in early trade in Asia, depths not seen since a bout of thin liquidity triggered a "flash crash" on Oct.
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Against the dollar, the pound was steady at $1.2056, just above a low of $1.2015 hit on Monday, its weakest since a currency flash crash in October 2016.
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Candriam's Forest said last year's flash crash was important for bond fund managers because it showed that yields can rise despite the massive asset purchases from the ECB.
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In currency markets, the British pound fell as much as 290 percent in what's being called a "flash crash," to its lowest level in more than three decades.
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"Without this little flash crash, we were probably going to see some downward movement anyway on Apple," said Brian Hennessey, portfolio manager of the Alpine Dynamic Dividend Fund.
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The British pound was last quoted at $1.2515, within striking distance of $1.2481, its lowest since the "flash crash" on January 3 when the pound dropped to $1.2409.
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Bitcoin rival ethereum plunged Monday despite a major exchange's efforts to shore up confidence by announcing a credit for customers who lost money during last week's flash crash.
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But that very slowness contributes to real estate's stability — it is hard to have a "flash crash" when it takes 90 days for a sale to clear escrow.
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The yo-yo moves overnight prompted analysts to draw parallels with the "flash crash" in October which briefly knocked almost 10 percent off the value of Britain's pound.
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But that fall was triggered by the announcement of a major change in Swiss central bank policy, whereas Friday's flash crash in sterling had no apparent similar cause.
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Sterling plunged as much as 10 cents to $1.1491 in just a few minutes in Asia, a "flash crash" that fueled concerns about the vulnerability of the British currency.
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Citi declined to comment on whether those safety nets, which are part of the Aggregator programme, were operating at the time of the flash crash for its own traders.
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The yen was last down by 297.51% at 20.5 to the dollar, pulling back from a 21.2199-month high of 231 it reached overnight excluding the January flash crash.
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The first is a dip in August 2015, during which the yuan's devaluation caused what Ross terms a "flash crash" that sent the S&P 500 down 10 percent.
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Cramer put this strategy to work in 2010 during the market's flash crash, when the Dow Jones Industrial Average fell almost 1,000 points in less than half an hour.
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High-speed algorithmic trading contributes to a key risk in the market — that a "flash crash" could wipe out trillions of dollars of wealth in a matter of seconds.
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The British currency weakened 220% on Tuesday to $260 , having plunged earlier to $240, the lowest since April 2017 and below the "flash crash" of $1.2409 on Jan. 3.
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The dollar dropped 21.1108% to as low as 22, having only fallen below 21.1057 yen per dollar in the January flash crash and then last back in April 2018.
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However, Purdy added the flash crash was just one of the 400 trading days referred to by U.S. prosecutors when Sarao was said to have been spoofing the market.
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The SEC turned its attention to order routing at Citadel and other high-speed trading firms after the "flash crash" of 2010, when markets suddenly plunged and quickly rebounded.
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In September, Citadel hired former SEC Trading and Markets division regulator Gregg Berman, who had been one of the agency's lead investigators into the causes of the flash crash.
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The January 1 Shanghai flash crash has all the characteristics of the NYSE flash crashes but in a market that is not dominated by fund managers and institutional trading.
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The pound sank 1.6 percent to as low as $1.1983, depths not seen since the flash crash of early October, having finished around $1.2175 in New York on Friday.
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Sterling plunged as much as 10 cents to $193 in just a few minutes in Asia, a "flash crash" that fueled concerns about the vulnerability of the British currency.
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Ethereum investors shouldn't worry too much about the digital currency's flash crash from $319 to just 10 cents in a matter of seconds, blockchain investor William Mougayar said Friday.
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In the wake of the U.K.'s late June vote to exit the European Union (EU), the pound tumbled to as low as $1.1450 in an October flash crash.
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The prior circuit breaker system was revamped after it failed to prevent the May 2010 flash crash when the Dow lost hundreds of points in just a few seconds.
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But less than two years passed between the meltdown of 2008 and the Flash Crash of 2010 and another crash is inevitable while we hope it is far off.
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The dollar initially fell versus the yen to 27.0508 yen, the lowest since a flash crash in January that roiled currency markets, but then erased to rise 0.34% to 106.32.
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Financial markets also interpreted her comments as leaving the single market within the EU, following which the pound slumped for the first time since its flash crash on October 21.20.
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Read MoreCramer: 6 years after the Flash Crash, nothing has changed Drug distributor AmerisourceBergen has been one of the most consistent winners in the market during the past few years.
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The exceptionally long break has investors concerned there could be another "flash crash" like the one in early January that drove the yen massively higher in a matter of minutes.
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The most famous "flash crash" occurred on Wall Street in May 2010, when the Dow Jones Industrial Average fell by almost 1,000 points in the middle of a trading day.
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"This year, after the January 3 (flash) crash, the equity market has been strong (and) volatility has been low, and that's why the dollar/yen has been supported," said Yamada.
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Image: Shutterstock Following a flash crash last Wednesday, the company that runs GDAX, an exchange for the ethereum digital currency, announced that it would pay back investors who lost money.
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In October 2016 the British currency plumbed very briefly to more than three-decade lows below $1.15 during a flash crash in the currency markets in early Asian trading hours.
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In October 2016, the British currency dropped briefly below $8.33, its lowest in more than three decades, during a flash crash in the currency markets in early Asian trading hours.
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In what was being described as a "flash crash," Cable dropped as low as $1.1819 briefly, before climbing back up to around $1.2437 as of 3:26 p.m. HK/SIN.
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WASHINGTON, Jan 19 (Reuters) - The U.S. Treasury on Tuesday launched an in-depth investigation into the workings of the Treasury securities market in light of the "flash crash" on Oct.
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The SEC adopted the Market Access Rule in 2010 after a May 123 "flash crash" caused the Dow Jones Industrial Average to plunge about 1,000 points in a few minutes.
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In October 5.693, the British currency dropped briefly below $25.69, its lowest in more than three decades, during a flash crash in the currency markets in early Asian trading hours.
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It is telling when Stanford professor Jerry Kaplan describes machines as "natural sociopaths" and cites the algorithmic stock market flash crash in 2010 as a prime example of this sociopathy.
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The pound at one point had dropped below $1.20 to a three-decade low, barring its "flash crash" in October, and as much as 2.5 percent against the Japanese yen.
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Sterling broke below $1.20 on Tuesday morning amid Britain's political uncertainty, sliding as low as $1.1967 to reach its lowest point against the greenback since the October 2016 flash crash.
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CFTC Commissioner J. Christopher Giancarlo issued a statement Tuesday in response to the "flash crash" of the British pound, which he said was exacerbated by a lack of market liquidity.
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Sterling's "flash crash" in Asian trading in October 2016 for instance was blamed by some on algorithmic trading, but a central bank report later concluded there was no single perpetrator.
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The pound at one point dropped to a three-decade low against the dollar, barring its 'flash crash' in October, and as much as 2.5 percent against the Japanese yen.
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ETF investors who used stop-loss orders were burned by the extreme volatility of the 2015 flash crash because their orders were executed as prices plummeted and then quickly bounced back.
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Earlier this month, a London-based day trader pled guilty to U.S. federal charges of contributing to the May 2010 "flash crash" by spoofing futures on CME Group's Chicago Mercantile Exchange.
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The yen surged early in Asian trading to 104.46 per dollar, the highest since a flash crash this January, but then pared gains to be only a tad higher at 66.323.
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The yen's gains on Thursday, exacerbated by a flash crash in holiday-thinned markets, came as investors looked for safety after stocks plunged and fears of a slowdown in China grew.
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A "rogue" algorithm was blamed for crashing the British poundOn October 7, the British pound suffered a "flash crash," plummeting six percent against the US dollar within a matter of minutes.
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But the proposal was dropped in the wake of the May 2010 stock market flash crash, which, along with Dodd-Frank rule making following the financial crisis, overwhelmed the regulator's resources.
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The Aussie slipped below key chart support of $0.6832 to as low as $0.6828, a level not seen since early January when a currency "flash crash" briefly took it to $0.6715.
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Until the sterling flash crash, there was an eerie calm over the City in the wake of the Bank of England's swift action and a run of good U.K. economic data.
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It took the CFTC 4 years to deliver a final report on the 2010 Flash Crash so its unreasonable to expect a CSRC report on the June 2015 fall anytime soon.
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The pound GBP=D4 fell as low as $1.1983 in thin early Asian trade, which, barring a sudden "flash crash" in October, was its weakest against the dollar in 32 years.
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The British currency weakened 0.9% on Tuesday to $1.2409 GBP=D3, having plunged earlier to $29, the lowest since April 25.69 and below the "flash crash" of $231 on Jan. 26.
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Oil prices sold off sharply after WTI breached that level on May 255, causing prices to fall through a series of key technical levels, culminating in a "flash crash" to $43.76.
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"For those who have traded the overnight move, it almost feels like something big is brewing, similar to 79.393 August and the quasi-flash crash capitulation move we saw," Weston wrote.
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Before that, he was director of the Securities and Exchange Commission's division of trading and markets, where he oversaw the staff's review and analysis of the "flash crash" in May 2010.
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The pound surged to an eight-month high of $1.3048 after strong retail sales figures on Thursday, losing momentum later in the day in what some traders called a "flash crash".
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Against the dollar, the pound edged 0.1% higher to $1.2478, still close to Tuesday's low of $1.2439, its lowest in more than two years, barring a flash crash earlier this year.
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Mills builds his case on trends that emerged in the aftermath of the tech bubble, financial crisis, 2011 Euro debt crisis, 2016 oil crash and the 2018 flash crash sell-off.
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Little surprise, therefore, that the Japanese currency on Thursday had its best day since May 2017 after a flash crash in illiquid Asian trading briefly slammed the dollar below 105.00 yen.
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The high-frequency futures trader found guilty of contributing to the stock market "flash crash" of May 2010 has been sentenced in a Chicago court to one year of home detention.
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Sterling was also trading 0.4 percent up against the euro on Friday, after suffering its worst one-day drop on Thursday against the single currency since a "flash crash" on Oct.
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The CAT became a priority for the industry after the 2010 Flash Crash, which wiped out around $1 trillion from the stock market within minutes before an almost equally rapid rebound.
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In fact, he said it's likely not a flash crash, a brief sharp plunge usually blamed on electronic trading, like the temporary 9 percent plunge in the Dow in May 2010.
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But in percentage terms, the worst sell-off in recent years was the "flash crash" of May 6, 2010, when the Dow temporarily plunged 998 points, or more than 9 percent.
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He noted that after the May, 2010 Flash Crash, several reforms were implemented, including Limit Up-Limit Down rules that were designed to slow trading down during periods of exceptional volatility.
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Previous studies of the Flash Crash in May 2010 did not come to a firm conclusion about the cause, nor did an investigation into a sudden crash in Treasurys in Oct.
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Sterling slipped 0.2 percent to $1.2400, taking a breather in the wake of its "flash crash" in Asian trade on Friday, when it suddenly plunged to a 31-year low of $1.1491.
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The Turkish lira tumbled, hitting 6.47 per dollar at one point, in what traders said was a "flash crash" as investors cut risk exposure and briefly boosted the yen against the lira.
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The news sparked a 'flash crash' in holiday-thinned currency markets as investors rushed to less risky assets, with the Japanese yen soaring against most major currencies in a matter of seconds.
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Many feared that a flash crash last week was a sign of shady dealings on the exchange, but the company behind it is reassuring investors that they'll be paid back in full.
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The diminishing chances of a Trump presidency have put Europe back firmly in the market's crosshairs, as the sterling flash crash and lingering fears over Deutsche Bank kept investors on their toes.
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The $21.5 million computer-driven hedge fund Piquant Technologies made between 21.2420 and 21.25 basis points of profit — or roughly $200,000 and $300,000 — from a short position made before the flash crash.
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If you discount Thursday night's "flash crash" — which was reportedly so bad because of low liquidity— there is still a clear downward trend for sterling, with no clear sign of the bottom.
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After the Flash Crash in May, 2010, the SEC realized they could not reconstruct trading activity to get at the real cause of the crash, or even who might have caused it.
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The pound fell more than 4% on the session to hit its lowest point since 1985, with the exception of an overnight "flash crash" in October 2016 which took sterling to $1.1450.
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But while the move up in yields is the biggest since June, a repeat of last year's Bund 'flash crash', which saw yields explode nearly 100 basis points to 1653 percent, is unlikely.
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All the early action was in currencies where the pound sank as low as $1.1983, depths not seen since the flash crash of October, having finished around $1.2175 in New York on Friday.
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The next level to watch is the March low just below $44 a barrel, struck after oil prices fell through a number of key technical levels, culminating in a flash crash to $43.76.
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The SEC, which ordered CAT after the May 2010 "flash crash" and views it as critical to the oversight of markets where trading happens in tiny fractions of a second, declined to comment.
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The news also sparked a 'flash crash' in holiday-thinned currency markets as investors rushed to less risky assets, with the Japanese yen soaring against most major currencies in a matter of seconds.
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SI) regulatory unit is proposing imposing price limits for daily stock auctions to prevent incidents such as the $41 billion flash crash in January that briefly roiled shares in conglomerate Jardine Matheson (JARD.SI).
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As the world's fifth largest economy comes to a standstill, the pound on Wednesday plunged to its lowest level since March 1985, barring levels seen during a freak "flash crash" in October 2016.
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There are also episodes such as last Monday's Australian dollar AUD=D3 mini 'flash crash', when bid-ask spreads briefly widened nearly eight-fold, suddenly pushing the exchange rate below $0.63 from $0.655.
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In 2015, a futures trader was charged by the CFTC with illegally manipulating the stock market by layering and spoofing during the 2010 flash crash using E-mini S&P 500 futures contracts.
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And there were many pundits on Wall Street prepared to suggest this could well be a brief, one-time event -- a "flash crash," as James Cramer suggested on CNBC before the market close.
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They also noted that the untested nature of the technologies in stress scenarios could worsen, rather than aid, the investment outcomes for investors — similar to last year's flash crash of the British pound.
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"The Governor of the Bank of England asked the BIS Markets Committee this morning to look into the events surrounding the flash crash in sterling during Asian trade," the BoE said in a statement.
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"Of course, the flash crash of the exchange rates on Wednesday night would not have been possible without any fundamental justification: `risk-off' in times of increasing economic concerns," said Commerzbank analyst Ulrich Leuchtmann.
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This "rogue" bot (or bots—we still don't know what actually caused this latest flash crash) was clearly overreacting to the news, and the other algorithms reacted accordingly in a bizarre herd-like manner.
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The CAT became a priority for the industry after the so-called flash crash in 2010, which wiped out about $1 trillion from the stock market within minutes before an almost equally rapid rebound.
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Norway's sovereign wealth fund, the world's largest and a major owner of British shares and government bonds, told Reuters that Friday's flash crash was a correct move that reflected the expectations for Britain's economy.
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However, investors should be prepared for a big drop at some point, reminiscent of the 1987 "Black Monday" crash and the 2010 "flash crash" — which were both a result of market mechanics, he warned.
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Some fear the lack of liquidity could lead to a re-run of the flash crash from January when the yen made massive gains in a matter of minutes as bears were stopped out.
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The news sparked a 'flash crash' in holiday-thinned currency markets as growing concerns about the health of the global economy, particularly China, sent investors scurrying into the safe-haven of the Japanese currency.
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The Securities and Exchange Commission unanimously approved a new database on Tuesday that is intended to help them respond to a sudden and dramatic shift in markets such as the "flash crash" of 2010.
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Despite the broader market rise, a "flash crash" in the actively traded CSI 300 futures contract earlier in the session dominated trader talk throughout the session and highlighted wider liquidity concerns in China's markets.
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Judge Orders Extradition to U.S. in 'Flash Crash' Case | Navinder Singh Sarao, a British trader, is accused by American authorities of contributing to turmoil that led the Dow to fall more than 600 points.
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Created in response to the 2010 Flash Crash stock plunge, the Consolidated Audit Trail (CAT) system is meant to reduce the time and effort required to find and stop bad actors in the market.
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London time, the pound rallied nearly 227 percent to trade slightly above the $22007 level, after having fallen as low as $22009 during Tuesday's session, its lowest since a flash crash in October 2016.
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While wariness remains that there could be a repeat of last January's "flash crash", when massive stop-loss selling swept through holiday-thinned markets, analysts said the Fed's liquidity injections had reduced the risk.
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Try to trigger a flash crash or release a misleading press release so that you can take advantage of price movements, and you're pretty likely to be investigated by the Securities and Exchange Commission.
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And the Flash Crash of May 6, 2010, took place less than a day after rioting, arson, and murder in Athens led the world to believe that Europe was coming apart politically and economically.
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The funds have remained one of the fastest growing parts of the market despite concerns over their durability during periods of market stress, for instance after a "flash crash" that pummeled some ETFs on Aug.
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The Turkish lira weakened around 20.6342% to more than 22015 against the dollar on Monday after briefly plunging to 20093 in what market watchers described as a "flash crash" as Japanese investors cut risk assets.
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The Turkish lira weakened around 1% to more than 5.8 against the dollar on Monday after briefly plunging to 6.47 in what market watchers described as a "flash crash" as Japanese investors cut risk assets.
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Sterling, meanwhile, was down 0.3 percent against the dollar at $1.2324, below its overnight low of $1.2345, in the wake of Friday's "flash crash" that sent it hurtling to its lowest levels in 31 years.
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Late on Sunday, sterling plunged to 93.26 pence against the euro, the lowest since October 2009 apart from a flash crash in October 2016, and to a 31-month low of $1.2015 versus the dollar.
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A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a "flash crash" - a violent currency spasm that can occur in times of thin trading turnover.
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The tripped lower on Friday on what traders called a "flash crash" that knocked the currency to a 31-year low, while the dollar slipped on news of unexpectedly weak U.S. job growth in September.
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I did a piece last night — a lot of people were buzzing about it — about how that flash crash that we had in December, right before Christmas, is turning a lot of retail investors off.
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Sterling net short positions, meanwhile, dipped to 95,470 contracts from the previous week's record high of 97,572, data showed, the flash crash event last Friday having a relatively minor impact on positioning in the currency.
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" The last time DeFazio, the chairman of the House Transportation and Infrastructure Committee, tried to get a similar piece of legislation to the floor was in 2017, with the goal of avoiding another "flash crash.
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Against the dollar the yen climbed a quarter of a percentage point to 105.32 yen, closing in on its highest against the U.S. currency since March 2018, barring a flash crash in January this year.
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In the midst of the August 193 flash crash, when the Dow plummeted 1,000 points in a matter of minutes, General Electric shares fell 21 percent and touched an intraday low of $19.37 before rebounding.
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A "flash crash" last Friday added to broader concerns about the stability of the currency in the face of Britain's huge current account deficit, and the threat to foreign investment generated by negotiations with Brussels.
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China's index futures market was calm on Tuesday, after the China Financial Futures Exchange said that sell orders from a hedging client triggered a broader technical sell-off that caused Tuesday's one-minute flash crash.
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Read More Cramer's game plan: Retail value traps to avoid next week Friday marked the sixth anniversary of the Flash Crash, where the Dow Jones industrial average fell almost 1,000 points in just a few minutes.
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Norway's sovereign wealth fund, the world's largest and a major owner of British shares and government bonds, told Reuters on Tuesday that Friday's "flash crash" was a correct move that reflected the expectations for Britain's economy.
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Sterling extended losses in the afternoon session and was down half a percent against both the dollar and the euro around 1400 GMT, having hit its lowest level since a January flash crash in early trade.
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The dollar's strength on the day also grounded the high-flying euro which has had another strong week and is now at its highest against the pound in eight years barring sterling's 'flash' crash last October.
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The yen, already stronger on the day, was boosted by the inversion and was trading up 0.73% at 105.94, though still off a 1-1/2-year high -excepting a flash crash in January - hit Monday.
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NEW YORK (Reuters) - Sterling plunged on Friday after what traders called a "flash crash" knocked the currency to a 20.4-year low, while the dollar slipped on news of unexpectedly weak U.S. jobs growth in September.
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Late on Sunday, sterling plunged to 93.26 pence against the euro, the lowest since October 2009 apart from a flash crash in October 2016, and to a new 313-month low of $1.2015 versus the dollar.
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After the 2010 stock market "Flash Crash," the SEC required broker-dealers, trading venues and stock exchanges to report all stock trades and customer information to a single database, known as the Consolidated Audit Trail (CAT).
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The pound plunged to $2136.48 GBP=D21.4 in early trade in Asia, depths not seen since a short-lived "flash crash" briefly wiped 113.613 percent off the currency's value in a thin market on Oct. 50.61.
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LONDON (Reuters) - A London-based trader accused of helping cause the 2010 Wall Street "flash crash" was operating a legitimate trading strategy rather than placing bogus orders to spoof the market, a British court heard on Thursday.
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SHANGHAI, March 14 (Reuters) - A stock index futures contract in China tumbled in a "flash crash" in late trading on Tuesday, before bouncing back within a second in what traders said may have been a trading error.
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There is little if any data to support suggestions that traders may have deliberately spurred October's flash crash in sterling, a Bank for International Settlements report said on Friday, pointing instead to a range of structural factors.
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But, the dollar's flash crash against the yen last week gave Japanese policymakers a sharp reminder how their strategies are shaped in large part by external factors beyond their control, notably what the U.S. Federal Reserve does.
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Turkey's lira weakened around 1% to more than 5.8 against the dollar on Monday after briefly plunging to 6.47 in what market watchers described as a "flash crash" as Japanese investors slashed their exposure to riskier assets.
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The Securities and Exchange Commission data system is being built to help regulators understand market actions following the 2010 flash crash, an incident in which stock markets plummeted and rebounded in the span of roughly 30 minutes.
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Rogue algorithms led to a flash crash of the British Pound in 2016, in-game AIs created super AIs weapons and hunted down human players, and AIs have created their own languages that were indecipherable to humans.
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SINGAPORE, July 15 (Reuters) - Singapore Exchange's regulatory unit is proposing imposing price limits during daily stock auctions to prevent incidents such as the $41 billion flash crash in January that briefly roiled shares in conglomerate Jardine Matheson.
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LONDON, March 23 (Reuters) - A British judge on Wednesday approved a U.S. extradition request for a London-based trader accused of contributing to the 2010 Wall Street "flash crash" by placing bogus orders to spoof the market.
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LONDON, Sept 3 (Reuters) - Britain's currency tumbled below $1.20 on Tuesday, the first time it has breached that level since a "flash crash" in October 2016, as fears over Brexit and a possible general election escalated sharply.
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"The bigger question becomes will we see the 'v-shaped' recovery that has become so common over recent years, or will it be more of a process like we saw following 2010's 'Flash Crash,'" Krinsky added.
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High-frequency traders place and withdraw millions of orders every second, and there's a mini "flash crash" in some stock or other every day, with the price plunging and then recovering within the blink of an eye.
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But the rumor had come at a time when the value of Ethereum was already on the decline, so the fake news turned that decline into a flash crash, ultimately causing $4 billion in value to disappear.
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The day of the flash crash, Hammond point-blank denied there were any plans for a demand-inducing "fiscal splurge" on infrastructure projects, as other Conservative officials, notably George Freeman, who heads May's policy team, have suggested.
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The single currency jumped two full cents to as high as $103, before quickly retreating, prompting analysts to draw parallels with a "flash crash" in October that briefly knocked almost 10 percent off the value of Britain's pound.
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The single currency jumped two full cents to as high as $1.07, before quickly retreating, prompting analysts to draw parallels with a "flash crash" in October that briefly knocked almost 1.23883 percent off the value of Britain's pound.
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Internationally exposed stocks such as Diageo, Unilever and British American Tobacco were among the biggest boosts to the main index as mounting political worries sent sterling below $1.26 for the first time since a January 3 flash crash.
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Some fear the lack of liquidity could lead to a re-run of the dollar's flash crash from January when the yen made massive gains in a matter of minutes as bears were forced to cover short positions.
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As for effects of the flash crash, huge hits to both confidence and market prices could have adverse effects if they remain low for much longer, said Schlossberg, managing director of foreign exchange strategy for BK Asset Management.
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They say his actions contributed to market instability which led to the May 6, 2010 flash crash when the Dow Jones Industrial Average briefly plunged more than 1,000 points, temporarily wiping out nearly $1 trillion in market value.
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The other is the question of how robust the system is, with regulators still unable fully to explain events like the "flash crash" of 2010, when the Dow Jones Industrial Average plunged by 9% in minutes before rebounding.
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ET. That put WTI above the key level of $50.22 a barrel, the high for the week of April 24 — just before oil prices broke below a number of technical levels, culminating in a "flash crash" to $43.76.
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Sterling, which fell below $1.20 in a flash crash at the start of October, rose to a two-month high against the dollar at $1.2696, and a three-month peak against the euro at 83.69 pence per euro.
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The single currency jumped two full cents to as high as $1.07, before quickly retreating, prompting analysts to draw parallels with a "flash crash" in October that briefly knocked almost 10 percent off the value of Britain's pound.
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Take, for example, the hallucinogenic ruminations of two jabbering Google Home devices, or the stock market "flash crash" of 2010 that occurred thanks to trading algorithms playing a super-speed game of securities hacky sack with each other.
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The yen, already stronger on the day, was boosted by the inversion and was last trading up 0.74% at 105.93, though still off a 1-1/2-year high - excepting a flash crash in January - hit on Monday.
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A sudden drop like the one on Friday is often called a flash crash, and it is sometimes caused by automated trades or a simple misplaced keystroke — a fat-finger error, as it is known on trading floors.
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Mr. Sarao's lawyers have argued for in part that the flash crash was caused by other factors and market participants, rather than Mr. Sarao, who lives with his parents in Hounslow, a middle-class neighborhood near Heathrow Airport.
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Turkey's lira dropped more than 1% to more than 5.8 against the dollar on Monday after briefly sliding to 6.47 in what market watchers described as a "flash crash" as Japanese investors slashed their exposure to riskier assets.
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They contend his actions contributed to market instability that led to the flash crash on May 6, 2010 when the Dow Jones Industrial Average briefly plunged more than 1,000 points, temporarily wiping out nearly $1 trillion in market value.
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The UK investigation into October's "flash crash" in sterling has focused heavily on the Japanese trading operations of Citigroup, which fired off repeated sell orders that exacerbated the pound's fall, according to bankers and officials involved in the inquiry.
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Slippery road ahead for these stocks Cramer: 6 years after the Flash Crash, nothing has changed Cramer's game plan: Retail value traps to avoid next week To make matters worse, the Chinese stock market dropped 2.7 percent on Monday.
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Similarly, using five-year/five-year forward swap rates as a measure, euro zone and U.S. bonds are much more closely valued now than they were early last year just before the Bund's 'flash crash', notes JP Morgan's Panigirtzoglou.
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Sterling fell to its lowest against the euro in eight years this week, barring a brief flash crash in October 2016 and analysts say investors are reaching for hedged ETFs to protect against a possible rebound in the pound.
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A London-based trader on Wednesday became the second person convicted of criminally spoofing U.S. futures markets, after he pleaded guilty to federal charges that he contributed to Wall Street's 2010 "flash crash" by using the manipulative trading practice.
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Prosecutors said his actions contributed to market instability that led to the flash crash on May 6, 2010, when the Dow Jones industrial average briefly plunged more than 1,000 points, temporarily wiping out nearly $1 trillion in market value.
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Hammond did not comment on an overnight 'flash crash' in sterling but said its decline earlier this week was due to markets taking on board that Britain's government definitely intended to take the country out of the European Union.
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While head of the section, Cook directed a review of the May 6, 2010 flash crash, when the Dow Jones Industrial Average briefly plunged more than 1,000 points, temporarily wiping out nearly $1 trillion in market value, FINRA said.
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The yen JPY=, already stronger on the day, was boosted by the inversion and was last trading up 0.74% at 20193, though still off a 1-1/2-year high - excepting a flash crash in January - hit on Monday.
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Photo: Ahn Young-joon (AP)Earlier this month, tech giant Apple posted quarterly revenue projections of just $84 billion, much lower than its previous projections of $89 to 94 billion, setting off a "flash crash" in global currency markets.
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LONDON — A judge ruled on Wednesday that Navinder Singh Sarao can be sent to the United States to face criminal charges accusing him of playing a role in the May 2010 "flash crash" in the United States stock market.
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The causes of the flash crash "were not a single action and cannot on any view be laid wholly or mostly at Navinder Sarao's door, although he was acting on the day," the judge said in his written order.
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A number of Libor traders faced criminal charges as an outgrowth of the commission's investigations, for example, as did the so-called flash-crash trader, Navinder Singh Sarao, who was accused of contributing to that May 2010 market plunge.
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"Violent moves in AUD and JPY this morning bear all the hallmarks of a 'flash crash' similar to that which befell NZD in August 2015 and GBP in October 2016," said Ray Attrill, head of FX strategy at National Australia Bank.
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Read More: Three of China's Biggest Bitcoin Exchanges Are Shutting Down A "flash crash" that saw Bitcoin lose (and recover) $600 USD worth of its nearly $5,000 per coin value in mere minutes on Tuesday morning coincided with the news.
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Teresa Goody, who worked as a lawyer in the Office of General Counsel at the SEC, said what happened on Christmas Eve was different from 2010's "Flash Crash" that saw the Dow plunge 1,000 points before it pared those losses.
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The risk of a "flash crash" in markets is rising, strategists at Bank of America Merrill Lynch said on Friday, after a week in which previously-booming cryptocurrency Bitcoin tumbled, oil sank, and investors piled into stocks perceived as safer.
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Sterling kept well above the 31-year trough below $1.1500 struck last Friday during its flash crash as some fears of a "hard Brexit" ebbed, but it remained under pressure as Britain's separation from the European Union is strewn with obstacles.
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His actions, they say, helped played a role in events which caused the flash crash on May 6, 2010 when the Dow Jones Industrial Average briefly fell more than 1,000 points, temporarily wiping out nearly $1 trillion in market value.
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The Japanese yen rose to its highest against the dollar since March 2018 - barring a flash crash in January this year - as investors ramped up bets that the safe-haven currency could gain more if the trade conflict is prolonged.
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Sarao's lawyers have argued that experts have ruled out his actions as being responsible for the flash crash, and in his ruling in March, judge Quentin Purdy also cast doubt on the role the trader is alleged to have played.
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LONDON (Reuters) - A London-based trader, accused by the U.S. of contributing to the 2010 Wall Street "flash crash", should not be extradited because the offences he is accused of are not crimes in Britain, his lawyers said on Friday.
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SYDNEY (Reuters) - As Japan heads for an unprecedented market holiday, investors around the globe are fretting over the risk of a 'flash crash' or violent spasm in currencies that can occur when traders are away and turnover is super thin.
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LONDON (Reuters) - Sterling shed more then 63 percent to trade as low as $1.22 on Tuesday as senior officials and investors pointed to the potential for more declines in a market still trying to recover from Friday's 10 percent flash crash.
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The CAT has been hit by a series of delays since being ordered by the SEC after the May 2010 "flash crash," even though the regulator has said it views completion of the database as critical to its oversight of markets.
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After the flash crash, in which around $1 trillion was wiped from the stock market within minutes before an almost equally rapid rebound, it took several months to piece together the data needed to attempt to diagnose what caused the event.
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SEC greenlights construction of massive securities database: The Securities and Exchange Commission unanimously approved a new database on Tuesday that is intended to help them respond to a sudden and dramatic shift in markets such as the "flash crash" of 85033.
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The Japanese yen JPY= rose to its highest against the dollar since March 2018 - barring a flash crash in January this year - as investors ramped up bets that the safe-haven currency could gain more if the trade conflict is prolonged.
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LONDON (Reuters) - Sterling fell to its lowest since the "flash crash" on October 7, with the Bank of England Governor Mark Carney warning investors would demand a higher premium to buy British assets, if the central bank's independence was questioned.
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Other things experts recommend looking for: a safeguard against a "flash crash," or snowballing price drop triggered by a few big trades, protections against leaks of customer data, a daily "integrity and reconciliation" check to assure all transactions were booked correctly.
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The CAT has been hit by a series of delays since being ordered by the SEC after the May 2010 "flash crash", even though the regulator has said it views completion of the database as critical to its oversight of markets.
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It's at a 31-year low against the dollar, its lowest on a trade-weighted basis since the 353s, and the BoE is investigating last Friday's "flash crash" which saw it plunge 10 percent in a matter of hours before recovering.
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Later in the day sterling fell below $1.17, down 3% on the day, to hit its lowest against the dollar in more than 30 years barring a flash crash in 2016, as investors sought the safety of the U.S. currency.
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Later in the day sterling fell below $1.17, down 3% on the day, to hit its lowest against the dollar in more than 30 years barring a flash crash in 2016, as investors sought the safety of the U.S. currency.
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One need only look at the infamous 2010 "Flash Crash" – which in a matter of minutes saw the Standard & Poor's 500 index lose, then regain, roughly 9 percent – to remind themselves that the market isn't immune from rather serious hiccups.
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"The risks most likely come from irrational exuberance as investors become over-exposed to equities and an unforeseen event happens, which in turn, creates a flash crash or something more sinister," added Peter Lowman, chief investment officer at Investment Quorum.
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The panicky selling yesterday sent S&P bid/offer spreads as wide as $50 (typically they are $1 or less), and there were times when prices simply weren't quoted, a phenomenon not seen since the 'Flash Crash' on May 6, 2010.
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Last month, a British judge approved a U.S. request for the extradition of a London-based trader, Navinder Sarao, accused of contributing to the 2010 Wall Street "flash crash" with spoofing tactics similar to those Salim and Khara allegedly used.
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"One thing to look at is whether market players cut their (yen-short) positions ahead of the holiday period on concerns there could be a flash crash like a year ago," said Minori Uchida, chief currency analyst at MUFG Bank.
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It drove the pound as low as $1.2045, a level last seen during a flash crash in October, though it was soon on the recovery path and steadied at $1.2130 - a more modest 0.3 percent lower - as London trading wound down.
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ISTANBUL, Dec 19 (Reuters) - Turkey's lira hit its weakest level against the dollar since an August "flash crash" on Thursday as investors fretted about tensions with the United States over Turkey's purchase of Russian defence systems and its incursion in Syria.
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LONDON, Sept 12 (Reuters) - European bond yields are rising as investors entertain the possibility that the post-2008 era of super-charged central bank stimulus could soon end, but a re-run of last year's German bond 'flash crash' should be avoided.
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The yen pulled back to the 104 handle from 103 in recent weeks, while the euro briefly sank to the $1.08 handle from levels above $1.10, while a flash crash saw the British pound tumble from $1.2600 to as low as $1.1491 briefly.
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Recommendations were designed to address three broad issues: increasing transparency so investors have a clearer idea of what's happening in the market with regard to pricing; "strengthening resiliency" so that damage from episodes like the March 2010 "Flash Crash" and the Aug.
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LONDON, Feb 5 (Reuters) - A London-based trader, accused by the U.S. of contributing to the 2010 Wall Street "flash crash", should not be extradited because the offences he is accused of are not crimes in Britain, his lawyers said on Friday.
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We may not be able to see Procter trading down," Cramer said, "But we will be ready, and yes, we will even be salivating for the next flash crash so we can brag that not only were we there, we made a killing.
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The fact that the pound has continued falling this week suggests that Friday's flash crash was more than just a digital fat finger trade, instead it appears that the pound is becoming toxic for traders and the selling pressure could continue to build.
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A London-based trader accused of contributing to the 2010 Wall Street "flash crash" by placing bogus orders to spoof the market lost his legal bid to stop extradition on Friday and will now be sent to the United States to face trial.
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Sterling fell back to as low as $1.26 in the two weeks after Prime Minister Theresa May unexpectedly lost her parliamentary majority in last month's snap election, but it remains some 10 cents above lows hit in a flash crash last October.
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"It looks to me like a typical type of scenario when you see a single stock flash crash where you'll see bids just disappear, stop orders get kicked," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
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The British pound GBP= took a pasting in the past week, falling to a new 31-year low against the dollar, and rattling nerves on trading desks with a "flash crash" in Asian trading early on Friday that has not been completely explained.
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The Aussie fell to $0.6832, its lowest since early January when a currency "flash crash" briefly took it to $0.6715 while the kiwi held at $0.6561 as markets wager on a rate cut by the Reserve Bank of New Zealand next week.
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After the flash crash, in which around $1 trillion was wiped out from the stock market within minutes before an almost equally rapid rebound, it took several months to piece together the data needed to attempt to diagnose what caused the event.
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In overnight trade the Japanese yen rose to its highest against the dollar since March 2018 - barring a flash crash in January this year - as investors ramped up bets that the safe-haven currency could gain more if the trade conflict is prolonged.
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"Investors want to protect themselves against a potential flash crash, and the way to do that is through options," said Nicolas Forest, global head of fixed income management at Candriam Investors Group, which manages about 34 billion euros of fixed income assets.
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"I do think it could exacerbate what might otherwise be a relatively shallow pullback in the market, maybe not to flash-crash proportion but ... I think it's a risk we need to be mindful of this as we think about portfolios," she said.
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The currency was slightly calmer than Friday when a "flash-crash" wiped out a tenth of its value in a matter of minutes in Asian trade, but sentiment towards the pound remained gloomy with speculators bets against it at record highs. [IMM/FX].
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" JOE SALUZZI, CO-MANAGER OF TRADING, THEMIS TRADING, CHATHAM, NEW JERSEY: "It looks to me like a typical type of scenario when you see a single stock flash crash where you'll see bids just disappear, stop orders get kicked, in those particular names.
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With a key $1.25 level against the dollar giving way in early Asian trade, traders quickly pushed the British currency down half a percent against the dollar to a level not seen since April 2017, barring a flash crash in early January.
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ISTANBUL, Aug 26 (Reuters) - The Turkish lira weakened around 1% to more than 5.8 against the dollar on Monday after briefly surging to a level of 6.47 overnight in what market watchers described as a "flash crash" as Japanese investors cut risk assets.
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LONDON, Dec 7 (Reuters) - Citi said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October's "flash crash" in sterling, responding to a Financial Times report saying a trader at the U.S. bank exacerbated the pound's fall.
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The Australian dollar is also at its lowest levels since the flash crash of early January, hit by growing expectations of another rate cut by the country's central bank and by the spectre of a further slowdown in China - Australia's largest export market.
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They argue his actions contributed to the market instability which spread from the CME and led to the flash crash on May 6, 2010 when the Dow Jones Industrial Average briefly plunged more than 20113,000 points, temporarily wiping out nearly $1 trillion in market value.
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LONDON (Reuters) - A 22 percent "flash crash" in sterling on Friday was the latest sign of how far Britain's impending exit from the European Union has rattled financial markets, with the UK's currency, stocks and government bonds all falling for a second straight day.
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The pound plunged to a 31-year low in a matter of minutes overnight in what traders said was a "flash crash" driven by computer-initiated sell orders, against a backdrop of growing anxiety that Britain will undergo a "hard" exit from the European Union.
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LONDON (Reuters) - Sterling hit its highest against the euro since its October 7 "flash crash" in a rollercoaster session on Tuesday, buffeted by mixed interpretations of a rise in inflation and suggestions parliament would have to ratify Britain's deal to leave the European Union.
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When coupled with some overnight developments, like the "flash crash" in the British pound, a big drop in the value of China's currency, the yuan, and there could be an argument for the Fed to remain on hold through the end of the year.
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Sterling skidded to its lowest levels - bar a "flash crash" in October - in 32 years on Monday, hit by fears that Prime Minister Theresa May will say on Tuesday that Britain is set for a "hard" Brexit out of the EU and its single market.
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While the resilience to recent market swings following the U.S. election and Brexit vote have been welcome, investors should be braced for further bouts of extreme volatilty and "flash crash" episodes like the one that hit sterling in October, the Bank for International Settlements said.
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A "flash crash" in the pound last week took it well below the nadir foreign exchange strategists in a recent Reuters poll had expected it to reach in the run-up to March, when May says she will invoke Article 22.1 of the Lisbon Treaty.
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In overnight trade the Japanese yen rose to its highest level against the dollar since March 2018 - barring a flash crash in January this year - as investors ramped up bets that the safe-haven currency could gain more if the trade conflict is prolonged.
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It's seen a range against the U.S. dollar between $1.1.33 on the night of the referendum, sinking as low as $21.26 at the flash crash low in October 21.22, back up to $21.2948, and then back down to $1.19 again as recently as September 2019.
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Even if you treat a "flash crash" in the pound on Asian markets Thursday night as an aberration — it fell 6 percent, then recovered in a short span — these types of aberrations seem to happen only when a market is already under severe stress.
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The pound, already struggling to make headway amid concerns about Britain's departure from the European Union, plummeted to its lowest since April 2017 in early Asian trading after a "flash crash" - triggered by massive stop-loss sales in Japan's yen - forced widespread selling of sterling.
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Since then, the threshold has been changed multiple times, most recently after a "flash crash" in May 2010 which caused a 9% drop in the Dow but didn't trigger an automatic stop because the automatic trigger point was a 10% drop in the Dow.
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For example, during the "flash crash" of 2010, which briefly wiped out nearly $1 trillion of stock market value, several trading attributes of a UK-based day trader named Navinder Sarao were flagged as potential market abuse, but many went undetected by the executing brokers.
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In a report submitted to the court, Harris said the suggestion of any causal relation between Sarao's trading and the flash crash was "highly speculative", saying it was the actions of an inexperienced trader at a large mutual fund that caused the market to fall rapidly.
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The idea of the CAT, which one former SEC commissioner likened to a Hubble Space Telescope for the securities markets, was born in 2008 and gained urgency after the May 2010 "flash crash," when the stock market lost more than $1 trillion in minutes, before quickly rebounding.
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ET. The flash crash was frightening to traders who bet on higher oil prices, "but it looks to be anomalous even in a market that is technically very weak and searching for strong fundamentals," said Tom Kloza, global head of energy analysis at Oil Price Information Service.
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The news sparked a 'flash crash' in holiday-thinned currency markets as growing concerns about the health of the global economy, particularly in China, sent investors scurrying into the safe-haven of the Japanese yen, which was poised for its biggest daily rise in 20.148 months.
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Earlier, in what some market watchers called a "flash crash," the yen rose as much as 4.4 percent versus the dollar after a flurry of automated orders triggered a massive move in Asia, where trade was thin with Japanese participants still away for the New Year holiday.
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In volatile trading, the dollar initially fell versus the yen to 105.51 yen, the lowest since a flash crash in January that roiled currency markets, but then reversed course and surged by 1% to 107.11 yen as 13-year Treasury yields and U.S. stock futures turned positive.
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The pound GBP= lost 1.4 percent to the dollar on Friday, and at one point earlier it had tumbled as much as 10 percent over just a few minutes, a "flash crash" that fueled concerns about the vulnerability of the currency and triggered volatility across jittery markets.
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While trading floors pretty much everywhere said there was no indication of a "fat finger" trade or another market malfunction, the rapid fall, in which the blue-chip index was losing hundreds of points in seconds, brought back memories of the first full-blown flash crash.
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LONDON (Reuters) - Sterling skidded to its lowest levels - bar a "flash crash" in October - in 287.85 years on Monday, hit by fears that Prime Minister Theresa May will say on Tuesday Britain is set for a "hard" Brexit out of the EU and its single market.
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Slippery road ahead for these stocks Cramer: 6 years after the Flash Crash, nothing has changed Cramer's game plan: Retail value traps to avoid next week Boroden uses the ratios to spot levels or period of time where a stock or index could be likely to change trajectory.
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The China Financial Futures Exchange said on Wednesday morning that sell orders from a hedging client triggered technical selling that caused a flash crash in one futures contract on Tuesday, a blip in an otherwise positive day for China's long dormant futures markets, which rallied along with major indexes.
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A sudden drop like the one it suffered — down as much as 6 percent at one point — is often called a flash crash, and is sometimes caused by computer-driven automated trades or a simple misplaced keystroke (a fat-finger error, as it is known on trading floors).
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"Based on the available evidence, this event (the flash crash) appears to have been the product of a confluence of factors," the committee, made up of representatives of the world's major central banks, said in the report, stressing that it had not considered "specific issues around market conduct" during the event.
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Instead, the flash crash was the result of someone placing a multi-million-dollar sell order at market price, meaning ETH would change hands at whatever price bidders were currently offering until the entire order was filled – no matter how much lower the price was than the current price of ETH.
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The senators pressed the SEC's head of trading and markets at a Senate hearing on March 3 over the length of time it has taken the regulator to build a data system that would improve oversight of the market, first proposed after the May 2010 "flash crash," among other issues.
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Last year, the U.S. Justice Department and U.S. Commodity Futures Trading Commission also brought criminal and civil spoofing charges against Navinder Sarao, a London-based trader accused of market manipulation that contributed to the May 2010 "flash crash" in which the Dow Jones Industrial Average briefly plunged more than 1,000 points.
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LONDON, Nov 21 (Reuters) - Sterling jumped by a full cent in a few seconds just after 1325 GMT on Monday, with dealers at several major banks saying there had been no clear driver of the move in a currency still smarting from a so-called "flash crash" a month ago.
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The of my latest book, "A History of the United States in Five Crashes," was the realization that each of the five modern stock market , beginning with the Panic of 1907 and ending with the Flash Crash of May 6, 2010, exhibit astonishing similarities that we should be alert for.
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TechCrunch explains: The flash crash was the result of someone placing a multi-million-dollar sell order at market price, meaning ETH would change hands at whatever price bidders were currently offering until the entire order was filled – no matter how much lower the price was than the current price of ETH.
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This pattern of a jump in trading volumes followed by a persistent decline in market depth has been characteristic of three episodes of market turbulence: the Treasury flash rally over four years ago, the flash crash in sterling in October 2016 and the spike in the VIX index eight months ago, she said.
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That point was driven home during a half-day symposium on money markets a few weeks ago, sponsored by the Bank Policy Institute, a bank trade group and think tank based in Washington DC. Four panels discussed potential causes of the repo flash crash and its implications for year-end:Tax and Treasury payments.
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The genesis of my latest book, "A History of the United States in Five Crashes," was the realization that each of the five modern stock market crashes, beginning with the Panic of 1907 and ending with the Flash Crash of May 6, 2010, exhibit astonishing similarities that we should be alert for.
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After the 2010 Flash Crash, the entire industry created individual stock circuit breakers, known as "limit up, limit down" that halt trading in individual stocks for five minutes when they move more than 5 percent in a rolling five-minute period (the band is widened to 10 percent in the first 15 minutes of trading).
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Last month a British judge approved a U.S. request for extradition of Navinder Sarao, an infamous trader based in London who is accused of contributing to the 2010 Wall Street "flash crash" and is wanted in the United States to face trial on 22 criminal counts of wire fraud, commodities fraud and market manipulation.
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The goal is to open a window for the agency into whether there is any manipulation of the markets or to provide a means to determine the cause of trading disruptions, such as the "flash crash" in 2010, when the Dow Jones industrial average dropped more than 600 points in a matter of minutes.
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Though the Fed's liquidity injections have reduced the risk, worries remain about a possible repeat of last January's so-called flash crash, when stop-loss selling in thinly traded currency markets drove a dramatic surge in the Japanese yen, which swung nearly 4 yen against the dollar in the largest intraday move in more than two years.
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Though the Fed's liquidity injections have reduced the risk, worries remain about a possible repeat of last January's so-called flash crash, when stop-loss selling in thinly traded currency markets drove a dramatic surge in the Japanese yen, which swung nearly 4 yen against the dollar in the largest intraday move in more than two years.
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"My takeaway is that while the machines do rule, at least we have circuit breakers that slow things down and make it so the market does function, albeit at times in a fashion that forces you to use limit, not market orders, so you don't get picked off as many were in the flash crash a few years ago, " he said.
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"We're not asking the opposite side of that [balance sheet capital] question, and that is not how much capital to take out of markets, but how much capital needs to stay in markets to provide healthy trading environments and to avoid incidents like we had last Friday with the flash crash and a dozen other flash crashes over the last seven years," Giancarlo said.
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Markets for ether, the cryptocurrency linked to the ethereum distributed computing platform, were rocked yesterday by a huge flash crash that saw prices fall from over $365 down to as low as 23 cents on one exchange before bouncing back shortly afterwards—an event that is mildly worrying for anyone concerned about cryptocurrency volatility, but has had devastating consequences for some professional traders who have seen their holdings wiped out.
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Of particular relevance are the December 2016, fine imposed on Igor B. Oystacher and 3Red Trading of $2.5m for spoofing and the use of a 'manipulative and deceptive device' while trading futures contracts on multiple futures exchanges, and the November 2016 order under which Navinder Singh Sarao was required to pay more than $38 million in monetary sanctions for price manipulation and spoofing as part of his role in the "flash crash" of May 2010.
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Over the course of the last two years, policymakers at the Treasury Department, the Federal Reserve Board, the Federal Reserve Bank of New York, the Securities and Exchange Commission and the Commodity Futures Trading Commission have been analyzing the interplay between the Treasury market and other referencing markets, focusing on some of the events that led to the "flash crash" in the 10-year Treasury bond in late 2014 as well as the evolving structure of the market.
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The British pound lost more than 10 percent of its value early on Friday in a massive "flash crash" that underscored concerns about Britain's economic stability as it starts to negotiate an exit from the European Union Dijsselbloem said the sharp drop reflected investor disappointment in what he views as the British government's moves toward a "hard Brexit" - a divorce that would leave Britain without the full trade and economic benefits of full participation in the market of nearly 500 million people.
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Traders were uncertain what caused the sudden gyration in the currency on Friday, but some attributed the move to reports of French President François Hollande urging the European Union to take a tough line on negotiations with the U.K. as it prepared to formally begin the exit process from the EU. "Investors may have thought that negotiations are going to be easy, but today's flash crash has shown where the support [level for the pound] is and the reality is this that it won't be long before we may touch the low again," said Naeem Aslam, chief market analyst at ThinkMarkets, in a note.
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