Volatile London Market Triggers 100 BP Error On Reuters 2000-2
DEALING & NETTING
LONDON--A wrong big figure price on Reuters Dealing 2000-2 Spot FX matching service caused "10 minutes of sheer pandemonium", according to one City trader last Wednesday, but most market participants interviewed say the 100 basis point error had more to do with human error than any systems failure. A Reuters official says that there was "no indication of a malfunction on the system".
Sterling/mark volatility was high when the problem occurred, coming on the back of a slew of economic data and
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