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Keyword: eminis

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  • Exclusive: Waddell is mystery trader in market plunge

    05/14/2010 10:35:28 AM PDT · by mlocher · 37 replies · 1,261+ views
    Reuters via Fidelity.com ^ | May 14, 2010 | Herbert Lash and Jonathan Spicer
    NEW YORK (Reuters) - A big mystery seller of futures contracts during the market meltdown last week was not a hedge fund or a high frequency trader as many have suspected, but money manager Waddell & Reed Financial Inc, according to a document obtained by Reuters. Waddell sold on May 6 a large order of e-mini contracts during a 20-minute span in which U.S. equity markets plunged, briefly wiping out nearly $1 trillion in market capital, the internal document from CME Group Inc said. The e-minis are one of the most liquid futures contracts in the world, providing holders exposure...