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Keyword: waddellreed

Waddell & Reed responds to 'flash crash' reports

05/14/2010 9:30:55 PM PDT · by TigerLikesRooster · 1 replies · 270+ views
CNN Money ^ | 05/14/10 | Ben Rooney

Waddell & Reed responds to 'flash crash' reports By Ben Rooney, staff reporter May 14, 2010: 4:30 PM ET /snip In a statement, Waddell said it was one of possibly 250 other investors trading the E-mini futures contract on the day in question. "On May 6, as on many trading days, Waddell & Reed executed several trading strategies, including index futures contracts, as part of the normal operation of our flexible portfolio funds," the firm said in a statement. Waddell added that such trades are used to protect investors from potential losses, adding that the firm is a "'bona fide...

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