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发表于 2010-10-18 05:41 PM
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Just a few weeks after trades in one of the most popular bond ETFs were canceled due to what exchange officials described as essentially a clerical error, a similar ‘bust’ took place.
The NYSE Euronext (NYX) said Monday it had busted — i.e. canceled — trades in the SPDR S&P 500 ETF (SPY).
The most liquid ETF in the U.S. dropped almost 10% in eight seconds as about 7.2 million shares were traded, according to a late Bloomberg report.
The story estimated the cancellations briefly erased $7.9 billion from SPY’s value.
On Oct. 1, one of the most popular bond ETFs also had a short yet nasty fall.
The iShares iBOXX Investment Grade Corporate Bond ETF (LQD) dropped nearly 10% early in that day’s session.
At the time, NYSE Euronext told Barron’s the problem was due to a clerical mistake in entering the wrong amounts on a large ticket.
No matter what the reason this time, the mishap couldn’t have come at a worse time.
Apparently, data showing SPY had taken such a big drop became public just as Apple (AAPL) and IBM (IBM) were announcing earnings. |
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