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News Link • Economy - International

Big Ööps: Deutsche Börse Says "Flash Crash Can't Happen Here" A Week Before German Fla

 Yesterday, courtesy of Nanex, we provided a close look into the internals of the flash crash that took place in yesterday's trading session of German stocks. What was made obvious, is that this crash happened as a result of the same sudden liquidity vacuum that took place in May 2010 in the NYSE, when the DJIA plunged by 1000 points on a surge in offers and no bids, leading to the infamous original flash crash (about which we warned in April of 2009 of course) crushing the market, before a mysterious buying power emerged out of nowhere and returned it to an almost unchanged level. What we did not know, and what makes yesterday's German mini crash both delightfully ironic and supremely humiliating to the largest German stock exchange operator, the Deutsche Börse, is that it was less than one short weeks ago that the very same Deutsche Börse, in a direct reply to Nanex itself, stated that what we witnessed on Wednesday night couldn't possibly happen. Six days later, it did.

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