BREAKING: NYSE Euronext Investigates ROGUE Trading
NYSE Euronext (NYSE:NYX) said in a note to traders today that it was “reviewing trades in 148 symbols between 9:30:00 a.m. and 10:15:00 a.m. ET” after the performance of several stocks this morning signaled a rogue trading algorithm.
Several traders pointed to big stock moves on no news, including RadioShack (NYSE:RSH), Quicksilver Resource (NYSE:KWK), Magnum Hunger Resources (NYSE:MHR), and Dole Food Company (NYSE:DOLE), among others.
Some traders believe Knight Capital (NYSE:KCG), a market-making firm on the floor of the New York Stock Exchange, to be responsible for the issues. A Knight Capital spokesperson said the firm is looking into stock-trading irregularities.
RadioShack shares spiked early but are now trading slightly in the red. Quicksilver is still up more than 5 percent, Magnum Hunger Resources is up nearly 3 percent, and Dole is up nearly 2 percent. Knight Capital shares have plunged over 20 percent.