Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

NYSE Cancels Mistaken Options Trades on Dow Average, S&P 500

Don't Miss Out —
Follow us on:

Oct. 18 (Bloomberg) -- NYSE Euronext canceled some options trades tied to three of the most-watched U.S. equity indexes after determining they were mistakes.

NYSE reviewed transactions executed between 4:12 p.m. and 4:15 p.m. New York time for contracts linked to the Dow Jones Industrial Average, Standard & Poor’s 500 Index and Russell 2000 Index as well as Citigroup Inc., according to messages sent by the exchange operator. Fewer than 150 trades were voided, spokesman Eric Ryan said in an e-mail.

The nation’s stock and options markets are working toward improving procedures and technology in response to breakdowns that prompted U.S. Securities and Exchange Commission Chairman Mary Jo White on Sept. 12 to demand they collaborate. Exchanges are making progress toward that goal, CBOE Holdings Inc. President and Chief Operating Officer Edward Provost said on Oct. 4. His company owns the largest U.S. options market.

White met with exchange executives after a programming error caused Goldman Sachs Group Inc. to send unintentional stock options orders in the first minutes of trading on Aug. 20, pushing prices on dozens of contracts to a dollar each, according to a person briefed on the matter and data compiled by Bloomberg.

Ryan said NYSE will continue to update customers on today’s mistaken trades.

To contact the reporter on this story: Nick Baker in Chicago at nbaker7@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.