The China Post
Date: August 3, 2017
By: The China Post
TAIPEI, Taiwan — The Taiwan Futures Exchange (台灣期貨) had a rough Thursday
morning after a trading error wiped out nearly NT$21 million (US$700,000).
It started at 8:45 a.m., when a fat-fingered trader from President Securities Corp. (統一證券) accidentally placed two large sell orders, sending the index from 10,328 points to 10,274.
Those initial two selloffs automatically triggered stop-loss orders, which sell off a stock if it dips below a certain price.
This sent the index plummeting further to 9,408 — a loss of NT$20.82 million.
The index stabilized as what had happened became clear and recovered to 10,415 points, down 38 points or 0.39 percent. [FULL STORY]