'Flash crash' started by single trade of index futures

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US - The catalyst for the "flash crash" on 6 May was a single trade by an institutional investor who sold $4.1bn of index futures, according to a new report released by US regulators.

The report, issued by the Securities and Exchange Commission in conjunction with the Commodities Futures Trading Commission, says the trade was initiated by "a large fundamental trader," who used a...

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