Tickmill Sponsors the World of Trading Expo in Frankfurt
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A fat-finger error is a keyboard input error in trading anfangerfehler financial markets such as the stock market or foreign exchange market whereby an trading anfangerfehler to buy or sell is placed of far greater size than intended, for the wrong stock or contract, at the wrong price, trading anfangerfehler with any number of other input errors.
Automated systems within trading houses may catch fat-finger errors before they reach the market or such orders may be cancelled before trading anfangerfehler can be fulfilled. Fat-finger errors are a product of the electronic processing of orders which requires details to be input using keyboards. Before trading was computerised, erroneous orders were known as " out-trades " which trading anfangerfehler be cancelled before proceeding. Erroneous orders placed using computers may be harder or impossible to cancel.
In order to have legal certainty at the stock exchange, all exchanges have tight deadlines to request a review and cancellation, if possible. Trading anfangerfehler the NYSE-Euronext Liffe Paris, Brussels, Amsterdam" Where a member has executed an Erroneous trade, he will have a maximum of 30 minutes from the time of execution within which he may contact Market Services to request an invalidation ".
At the London Stock Exchange "any requests from member firms to cancel trades should be made to the Market Supervision department as soon as possible and in any event within 30 minutes of the trade time". The Frankfurt Stock Exchange in Germany trading anfangerfehler the following rules: As far as transactions of securities other than structured products, which are traded in Trading anfangerfehler Auction, are concerned, the application term ends according to Clause 1 upon closing of trading hours for that day, so the mistrade application has to be submitted within half an hour after trading anfangerfehler closing of trading hours at the latest.
In order to have legal certainty and in order to avoid the situation that courts have to decide ex-post if a trade should be binding or not, erroneous trade rules of exchanges usually exclude civil-law rescission rights. This explains why banks trading anfangerfehler have to carry huge losses when clearly erroneous trades occurred that have not been detected within 30 minutes.
From Wikipedia, the free encyclopedia. Retrieved 7 October The Global Transformation from Pits to Bits. Archived from the original PDF on Retrieved 9 May BBC News trading anfangerfehler, 2 October Retrieved trading anfangerfehler October Retrieved from " https: CS1 German-language sources de.