The much publicised "flash crash" on the NSE in India was actually part of a daily phenomenon where proprietary desks of brokers with risk give exploratory trades without any circuit breakers and other exchange controls in play during the first 15 minutes and no trades are consummated. The broker Emkay involved in passing such "erroneous" 59 trades on behalf of institutions is likely just using the template to look for wa swaying trend to a correction in a more "macro" pr "global" use of technological failures than the high Frequency trading algorithms used for institutional advantage legally in the US. Hopefully, the broker will be investigated throughly and thence the pre open session per se which gives the Rupee a 15 minute headstart on the Equities in trading as it opens without a Pre Open session at 9 AM IST

Posted via email from The India Investment Post