Trading systems briefly broke down at hedge fund firm Citadel Investment Group and trading firm Knight Capital Group when the stock markets plunged on May 6, the Wall Street Journal said.
Citadel stopped taking orders for a number of securities, soon after the record fall, the Journal said, citing an internal email and people familiar with the matter.
Citadel had asked clients to route orders elsewhere, the paper said.
Electronic trading service provider Knight Capital was so flooded with orders that one of its computers "just blew up," the paper said, citing a person familiar with the matter.
The breakdown led to a slight delay in handling orders and affected less than 1 percent of the Knight Capital's orders, the person said.
Citadel and Knight Capital could not immediately be reached for comment by Reuters outside regular U.S. business hours.
Citadel's trading arm -- Citadel Execution Services -- executes and routes over 600,000 equity trades, 500 million equity shares and 1.2 million retail options contracts per day on average, its website showed. (www.citadelgroup.com)
2. Here a shocking sample of how the US government lies to its people for- especially the last 2 decades as there has been no growth at all. The took inflation down and hiked therefor GDP both are lies. The blue line is the true GDP - remember the mega-profits Wallstreet made in this period with their army of liar analysts confirming this phony statistics. The master minds of this economic terrorism are Summers, Rubin and Greenspan. As you can figure out for yourself the amount the GDP is overstated matches the amount the inflation is understated. The IMF has taught this system to all developing countries so phony statistics is a almost global system now - Greece is not the only country hiding debt -they all do.