Citigroup Inc. Trader Receives Record-Breaking Number of Warning Messages Before Market Turbulence

Wednesday, 22 May 2024, 15:06
A Citigroup Inc. trader in London received an unprecedented 711 warning messages before triggering a flash crash. The incident occurred on May 2, 2022, during what should have been a quiet market day due to a public holiday in the UK. The excessive warnings highlight the potential risks associated with rapid market movements caused by algorithmic trading.
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Citigroup Inc. Trader Receives Record-Breaking Number of Warning Messages Before Market Turbulence

Citi Trader Receives Record Number of Warnings

One Citigroup Inc. trader in London received a total of 711 warning messages on the morning of May 2, 2022, ultimately leading to a flash crash.

Market Turbulence on a Quiet Day

Despite the UK public holiday, market turbulence ensued before 9 a.m. as a result of the trader's actions.

Conclusion: The incident sheds light on the challenges and risks posed by algorithmic trading in today's financial markets.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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