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Re: RichDude post# 13345

Monday, 02/23/2015 3:35:56 PM

Monday, February 23, 2015 3:35:56 PM

Post# of 18419
"During this historic move, liquidity from banks became extremely scarce and shallow, which affected execution prices. Liquidating these trades in normal conditions would generally be quick, but instead took much longer because banks were not making markets. This was a flash crash. The move by the SNB affected the entire FX industry globally – both retail and institutional markets – and more than $10 billion was lost by financial institutions."