"Fat Finger" or just more "High Freaks"? At 1110ET, the FTSE100 futures contract (representing the most liquid vehicle for trading the broadest UK stock market) suddenly rocketed up 1.3% on huge volume... and then, just as remarkably, Nanex shows [2], most of that price exuberance returned to normal within 10 seconds... Doesn't look like a fat finger order to us? with 5 waves of buying on the way up? Of course, one thing is sure, Virtu made money!
Via Nanex, [2]
1. March 2014 FTSE (Z) Futures
2. March 2014 FTSE (Z) Futures - Zoom of 27 seconds of trading.
3. March 2014 FTSE (Z) Futures - Zoom showing 5 seconds of trading.
Note the 5 separate buying waves.
4. EWU - a related ETF traded in New York.
5. EWU Zoom
