London Stock Exchange examines order-entry controls at FTSE error firm
LONDON -- The London Stock Exchange is considering whether the trade order-entry controls are adequate at a firm responsible for a false 120-point drop on the FTSE 100 -- the UK’s leading share market index -- in mid-May.
The LSE declined to name the firm. Neither would it comment on UK press reports that a trader’s error at the London offices of Lehman Brothers was responsible for the upset that allegedly cost the US investment bank £6 million ($8.5 million). Lehman Brothers also declined to
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