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Watchdog reverses 'fat fingers' trades Add to ...

Canadian market watchdogs reversed a handful of stock trades that were bounced around during Thursday's bout of market madness.

In step with trade cancellations on Nasdaq and the NYSE, the Investment Industry Regulatory Organization moved on late Thursday to re-price or cancel a number of trades that took place between 2:40 p.m. and 3:10 p.m. on Thursday, when a suspected trading error - mistakes known on the Street as "fat fingers" - knocked U.S. stocks for a loop.

Streetwise

The trades that IIROC revisited are:

• Claymore Canadian Financial Monthly Income ETF: five trades were cancelled.

• Fortis: 152 trades were re-priced and two trades were cancelled, and trades below $21.60 were re-priced to $21.60

• ISHARES S & P TSX CAPPED REIT INDEX FUND: 16 trades were re-priced and 5 trades were cancelled, while trades below $9.50 were re-priced to $9.50.

• Inter Pipeline Fund: 50 trades were re-priced and trades below $9 were re-priced to $9.00.

 

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