Bump in the night: FX flash crashes put regulators on alert
Share:
LONDON/NEW YORK (Reuters) - The increasing frequency of flash crashes in the $5.1 trillion-a-day (£4 trillion) foreign exchange market has regulators scrambling for answers.Sudden, violent and often quickly reversed price moves are now a regular occurrence in world currency markets -- often during the so-called 'witching hour', a period of thin trading between 5-6 pm in New York when currency dealers there have powered off and colleagues in Tokyo have yet to sign on.Two big crashes this year..