-
The 15 Minutes on a Citi Trading Desk That Sparked a Flash Crash
For one Citigroup Inc. trader in London, the morning of May 2, 2022 went from bad to worse. It was a public holiday in the UK, so it should have been a quiet day in the markets. A little before 9 a.m., the staffer on Citigroup’s Delta One trading desk — who was working from home — began putting together a trade that would hedge the bank’s exposure to the MSCI World Index. A tool that employees usually used for such a transaction wasn’t available that morning, so the trader had to manually build the basket of stocks. That’s where things started to go wrong. In Citigroup’s systems, traders have the option ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- May 22, 2024 1:35pm May 22, 2024 1:35pm
- Guest
- | IP XXX.XXX.106.183
- Comment #2
- Quote
- May 22, 2024 1:41pm May 22, 2024 1:41pm
- Guest
- | IP XXX.XXX.106.183
- Comment #3
- Quote
- May 22, 2024 2:03pm May 22, 2024 2:03pm
- Guest
- | IP XXX.XXX.106.183
- Comment #4
- Quote
- May 23, 2024 12:17am May 23, 2024 12:17am
- Guest
- | IP XXX.XX.1.20
- Comment #5
- Quote
- May 23, 2024 11:53am May 23, 2024 11:53am
- Guest
- | IP XX.XXX.111.31