A trader in the Australian Stock Exchange's options market could be $1m in deficit after inadvertently leaving an open trade. Presumably he/she just didn't push the right button.
Market participants believe a futures trader may have left open a stop order to buy futures, or an algorithmic trade -- an automatic computer trade -- might have been set without a price limit. In thin volume, the futures contract price increased at lightening speed.
The Stock Exchange is investigating this and a second earlier incident.
Comments