CBOE: Regulator’s ‘flash crash’ report falls short

By Reuters
Posted Nov. 4, 2010 at 2:49 p.m.

The head of the largest U.S. options exchange said a regulator report falls short of explaining what happened in the May “flash crash,” adding to skepticism that has grown since it was released October 1.

“We went on for months and months and still didn’t know what happened,” William Brodsky, chief executive of Chicago Board Options Exchange parent CBOE Holdings Inc, said at a Futures Industry Association conference on Thursday. The report’s explanation of the May 6 crash “just doesn’t add up in my view,” he said.

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CBOE Holdings

CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts...

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CME Group

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