It is absolutely critical that the market on which investors buy and sell stock be stable and reliable. But they are under threat from computerized "algorithmic" buying and selling, high-frequency trading, and other Wall Street creations.
Nov 18, 2014 4:46 p.m. ET - WASHINGTON (MarketWatch) -- The New York Stock Exchange is cancelling all Home Depot HD, +0.73% trades executed at or below $93.33 between 3:55 p.m. and 3:56 p.m. Eastern. The component of the Dow Jones Industrial Average dropped as low as $86.52 before bouncing back, closing at $95.98. The NYSE didn't explain the sudden drop. The ruling only impacts trades made on the NYSE, though it doesn't appear any other exchange saw the same movement in Home Depot.
Published: June 06, 2013
By: Matthew Philips, BusinessWeek
Steve Swanson was a typical 21-year-old computer nerd with a very atypical job. It was the summer of 1989, and he'd just earned a math degree from the College of Charleston. He tended toward T-shirts and flip-flops and liked Star Trek: The Next Generation. He also spent most of his time in the garage of his college statistics professor, Jim Hawkes, programming algorithms for what would become the world's first high-frequency trading firm, Automated Trading Desk.