Friday, April 13, 2012

What?

Mexico's IPC Index Plunges After 'Wrong Order'
CNBC.com | April 13, 2012 | 05:46 PM EDT

Mexico's benchmark IPC index plunged nearly 2 percent within minutes in late trading Friday after a "wrong order by a broker," the exchange's chief executive told CNBC.

"We are in the process of fixing it," said Luis Tellez, chairman and CEO of the exchange.

Earlier, a spokesman for the exchange said the matter was being looked into to determine whether certain trades were errors that could be corrected or be allowed to stand.

Tellez declined to give further details about the trades involved, but said the sides involved would have to agree to undo them, since "they were operations that were registered in the system."

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