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New circuit breakers will take effect next week on the NYSE aimed at preventing another "flash crash." Under this new system, halts are triggered based on where the price of the stock was trading during the previous five minute period. They will be in effect from 9:45 a.m. to 3:35 p.m.
During the crash of May 6, some stocks crashed to near zero. For example, Accenture (ACN) plunged from $40 to an incredible penny per share.
Continue reading New Circuit Breakers to Be Implemented to Prevent Another Flash Crash
Goldman Sachs (GS) has topped its previous record of $100 million dollar trading days. According to filings with the Securities and Exchange Commission, the bank made at least $100 million in net trading revenue on 131 days last year. Its previous record, set in 2008, was for 90 days of $100 million plus revenue.
Last year, during 263 trading days, Goldman lost money on only 19 days. Otherwise, it hit the jackpot pretty much every other day.
Continue reading Goldman Sachs Sets New Record for $100 Million Trading Days
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