So many shares of ING were pushed through the NYSE Euronext exchange today that computers hit a glitch and could no longer keep up with the amount of shares being handled. The record number of shares makes one wonder how high frequency trading (HFT) could have played a part in this:
Washington Post: ING <ING.AS> shares were sold sharply lower the day after it announced plans for a highly dilutive rights issue, before the record number of shares trading hands caused a technical glitch and the share’s suspension.
Due to the high trading volume of almost 99.4 million shares, compared with a daily average of 22.8 million, a technical error occurred, halting share trading around 1545 GMT, a spokeswoman of exchange operator Euronext said.
“A technical problem was caused due to the high order volume concentration, halting the share trade,” the spokeswoman said.