4 ms·
This story isn't emphasizing an important point: the stock price of many tech companies - amazon, google, Microsoft - were pegged to exactly $123.46 for multipl
by nopzor 9y ago
This story isn't emphasizing an important point: the stock price of many tech companies - amazon, google, Microsoft - were pegged to exactly $123.46 for multiple hours.
This is likely 123.456 rounded to 2 decimals.
To me this smells like a software testing bug or hack, rather than "stocks crashing"
- kakarot 9y agoGood eye. That was probably the case.
- AlBentley 9y agoTurns out they are scraping price data, the bots must have failed!
- dhbanes 9y agoI saw it pegged at 123.47
- karakot 9y agorounding
- radicality 9y agoRounding from what? 123.456 to 123.47?
- vpribish 9y agomaybe 2 passes? 123.45678... -> 123.4568 (4 decimal places is common in finance) then to 2 places for the retail muppets 123.46 :)
- beejiu 9y agoStocks have two prices. I guess this would be reflected in test data.
- hkmurakami 9y agoBid/ask?
- cm2187 9y agoThe NYSE did exactly the same f*ckup in 2014. And as I would expect will happen this time, the NYSE did not care because it is a bank holiday in the US, but it is not in the rest of the world, and I saw many people complaining on forums that their brokers automatically closed their positions or made big margin calls. So this is a pretty bad mistake.
- Waterluvian 9y agoThere's no due diligence expected on the broker's part? Or was the accurate data simply not available to them by any means?
- cm2187 9y agoWell, the official price normally comes directly from the exchange. Brokers protect themselves against their exposure to their clients by reacting to the markets live. The exchange should be the authoritative source for prices.