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News Link • Economy - Economics USA

When It All Goes Bidless: What Losing $1 Billion In 100 Milliseconds Looks LIke

•, Tyler Durden

It's quiet out there; too quiet. But if you were watching carefully this morning, everyone's favorite government-subsidized bank - Citigroup - flash-crashed to the tune of a $1.2bn market-cap loss in a fraction under 100 milliseconds. A 1.3% micro-crash on absolutely massive volume so perfectly visualized thanks to Nanex. When does this 'liquidity-providing' fiasco stop?

August 27, 2012 at 10:27:50.900 Citigroup (symbol C) dropped 1.3% (from 29.80 to 29.42) in about 100 milliseconds.

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