Duncan Niederauer: This Was a Feature, Not a Bug

NYSE Euronext CEO Duncan Niederauer cagily blaming non-NYSE electronic markets for today’s air pocket. He says NYSE was "going slow" because of market action, so trading briefly moved off-NYSE to electronic market, which were too thin to handle clearing all the orders. Result: Big drops.

Fine. So if this is a market feature, not a bug, why are we wiping out all the errant trades by runaway algorithms and market battle bots?

Comments

  1. Who was Niederauer's first wife and mother of his oldest daughter? What happened to her???