BUSINESS

Waddell & Reed: The Mystery Trader In Stock Market's 'Flash Crash' REVEALED

07/14/2010 05:12 am ET | Updated May 25, 2011

(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

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