TAIPEI, Taiwan — The Taiwan Futures Exchange (台灣期貨) had a rough Thursday morning after a trading error wiped out nearly NT$21 million (US$700,000). It started at 8:45 a.m., when a fat-fingered trader from President Securities Corp. (統一證券) accidentally placed two large sell orders, sending the index from 10,328 points to 10,274. Those initial two selloffs automatically triggered stop-loss orders, which sell off a stock if it dips below a certain price. The index stabilized as what had happened became clear and recovered to 10,415 points, down 38 points or 0.39 percent. Therefore, brokerages say, any traders affected by stop-loss orders have no option but to bear the losses.

Source: The China Post August 03, 2017 07:07 UTC