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?

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