The New York Stock Exchange cancelled trades in shares which rose as much as 150% yesterday after Knight Capital's electronic trading system malfunctioned.
The first 45 minutes of trading in US markets saw wide fluctuations in prices of several stocks, causing investors to relive memories of the ‘flash crash' of 2010. After reviewing trades in 148 stocks, it is believed large volumes of stocks were traded within five minutes rather than being spread out over five days. The NYSE decided to cancel trades in six of the stocks and said the decision is not subject to appeal. Trades in China Corp Blood Corp, which rose as much as 151%, Quicksilver Resources, Reaves Utility Income Fund, Wizzard Software, E-House (China) Holdings and American Re...
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