What actions might the NYSE take in response to the trades that were impacted?
NYSE Mayhem Traced to Staffer's Backup System Error
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A recent NYSE disruption was traced to an employee error involving a backup system left running, causing market swings for over 250 companies. The error prevented the morning auction, leading to illiquid trading conditions and significant price volatility. Over 1300 trades and 84 stocks were affected, with some trades being canceled. Financial repercussions are expected, and complaints have been filed by those who lost money. Schwab also criticized NYSE, expressing concerns about fairness for individual traders.
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What concerns did Schwab express regarding the situation?
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