Blame humans, not high-speed traders, for "flash crashes," SEC says

06/18/2013 | Reuters · Bloomberg

The Securities and Exchange Commission said "flash crashes" involving a single stock are most likely attributable to human error rather than high-speed trading. "What we are seeing is the result of sloppiness, combined with a lack of checks and balances," the SEC's Greg Berman said at SIFMA Tech 2013. "Contrary to public speculation, these types of events do not seem to be triggered by proprietary high-speed algorithms, by robots gone wild, or by excessive order cancellations," he said.

View Full Article in:

Reuters · Bloomberg

Published in Brief: