CFTC settles with firm over “London Whale” trades
Software glitch disrupted markets in August 2012
IIROC guidance on management of stop loss orders aimed at protecting market integrity
The trading price dropped 35% in 24 seconds due the automatic triggering of a number of stop loss orders
Firm failed to comply with trading supervision obligations
Trading activity increased the monthly trading volume for Discovery Air shares by as much as 24% in one month
Regulator alleges Discovery Air trades created a misleading appearance
Regulator responding to investor allegations
Stop loss orders trigger 55% price drop in less than one second
CSA/IIROC working group does not believe that additional measures are needed