Nasdaq OMX and the NYSE terminated trades in 10 ETFs after their prices plunged in early trading, Financial Times reports. Some of the trades that were cancelled occurred in 10 of 15 FocusShares ETFs launched on March 30, 2011.
The trades occurred early in the session when prices fell by nearly 98% after a human processing error at ETF market maker, Knight Capital Americas. The net asset values of the ETFs and the value of the underlying securities and shareholders were not affected.
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