National Bank Financial caused the Canadian stockmarket indices to jump around after a computer glitch caused $5billion of incorrect trading activity.
National Bank glitch sinks TSX -- briefly
"It looked like they put a sell order in, which drove the price down.
When they got filled, they realized that they had to buy it all back.
When they bought it all back, it forced the stocks all the way back
up," said one trader who heard that NBF incurred trading losses in the
range of $10-million to $50-million.
"One of our programs malfunctioned and sent a bunch of buy and sell
orders [to the TSX] at the same time. The system didn't work."
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