2 ms·
The story about the Vancouver Stock Exchange's rounding error deleting half the value of the exchange over time and then being undone in a day leaves me with so
by Jeff_Brown 3y ago
The story about the Vancouver Stock Exchange's rounding error deleting half the value of the exchange over time and then being undone in a day leaves me with so many questions. Who gained and who lost from the fix? How did peoples' behavior change thereafter?
- fartasanelk 3y agoI found this paper: https://www5.in.tum.de/~huckle/Vancouv.pdf https://www5.in.tum.de/~huckle/Vancouv.pdf Quoting: “A year after the index began, it was sitting at 725 and it should have been at 960. As embarrassing as the whole affair has been for the VSE, things could have been worse. Had the exchange introduced options based on the rise and fall of the index – a feature of the Toronto Options Exchange planned for next January – the VSE would have had to adjust wins and losses of investors. As it was, the exchange only had to pay for three weeks of computer work and the fees of consultants brought in from Toronto and California to put the index back in order, Seasons said.