I mercati instabili: un flash crash a Mumbai e un convegno a Pisa

Dal Financial Times di ieri: un flash crash indiano!

October 5, 2012 10:45 am

Indian shares suffer $60bn ‘flash crash’

By Neil Munshi in Mumbai and Philip Stafford in London

Almost $60bn was wiped from the stock market value of India’s biggest companies on Friday when a “flash crash” on the country’s stock exchange triggered a near 16 per cent slide in the main index.

India’s National Stock Exchange, Asia’s fourth largest bourse based in Mumbai, was forced to halt trading briefly after 59 erroneous orders from a basket of trades caused the so-called “Nifty Fifty” index to drop as much as 15.6 per cent within minutes.

The index recovered after mistaken orders were cancelled but the huge swing is the latest in a string of such moves on global exchanges and comes as regulators are stepping up their scrutiny of new trading technology and its impact on market stability. It follows a glitch this week on New York’s Nasdaq when shares in Kraft Foods soared as much as 28.9 per cent in the first minute of trading...

Il crash di Mumbai, così come il lunedì nero del 1987, e il flash crash del 6 maggio 2010, sono solo alcuni esempi tra i tanti di eventi nei quali i mercati si muovono di oltre 20-25 deviazioni standard!

Ne parleremo il 18 e il 19 ottobre prossimi in un simposio alla Scuola Normale Superiore, nel 202esimo anniversario della sua fondazione...e anche in occasione del 25esimo anniversario del lunedì nero.