Flash Crash

Investigators from the Securities and Exchange Commission and the Commodity Futures Trading Commission issued a report on October 1, 2010 that dealt and discussed in details the chain events behind the May 6, 2010 flash crash, in which DOW fell more than 600 points in 15 minutes. The report pointed out that "a large fundamental trader" (read Overland Park, Kan.-based Waddell & Reed Financial Inc.) put an order to sell $4.1b of an indexed stock futures contract known as an "E-Mini". However, the report did not say that the trader had tried to disrupt the market intentionally.