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The NYSE (NYX) prevented an erroneous trade worth $17M on Friday, when a programming glitch...

  • Monday, July 2, 2012, 8:05 AM ET
    The NYSE (NYX) prevented an erroneous trade worth $17M on Friday, when a programming glitch caused a dealer to put in an order for Monster Worldwide shares rather than the Monster Beverage stock he or  she wanted to buy. The trade, which was spotted by eagle-eyed staff, demonstrates the difference between fully electronic exchanges and Big Board's hybrid model in human monitoring is also used.
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    So if the trade went through, there would be winners and loser-- that broker-dealer. No matter what, that broker-dealer ought to be held responsible-- probably in the NYSE seat fees.
    2 Jul 2012, 08:15 AM Reply Like
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