Quote stuffing not to blame for flash crash, Berman insists

berman-gregg

Gregg Berman, Washington, DC-based senior policy adviser at the US Securities and Exchange Commission (SEC) and leader of the agency’s investigation into May 6, insists 'quote-stuffing' was not to blame for the flash crash.

The flash crash saw the Dow Jones Industrial Average (DJIA) embark on a sudden dive of almost 1,000 points, before recovering soon afterwards.

Quote-stuffing involves high-frequency traders placing large numbers of orders before quickly cancelling them to overload exchange sy

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