HALISTER1: GBP Flash Crash Anatomy: 1,000 Tick Range in Ninety Seconds

GBP Flash Crash Anatomy: 1,000 Tick Range in Ninety Seconds

(Bloomberg) -- GBP/USD transactions on Reuters on October 7 help to illustrate the frantic conditions in Asia Friday morning when the pound tanked, according to a printout seen by Bloomberg.
  • The following trades occurred one after the other in the space of ninety seconds:
  • GBP bought at 1.2161
  • GBP sold at 1.1501
  • GBP sold at 1.1501
  • GBP sold at 1.1500
  • GBP sold at 1.1491
  • GBP bought at 1.2162
  • GBP bought at 1.2499
    • Spot GBP/USD now little changed at 1.2433; had fallen as much as 6.1% to 1.1841 on Oct. 7, according to composite pricing data on Bloomberg
    • NOTE: Bloomberg LP, the parent company of Bloomberg News, competes with Thomson Reuters in providing news and information
  • Related story: Illusion of liquidity burns traders blindsided by pound’s crash
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Source: BFW (Bloomberg First Word)

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