SETS Survies First Week and Market Crash, But Lingering Trading Problems Need Fixing
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If officials at the London Stock Exchange's were wishing for an uneventful launch of their new Stock Exchange Trading System, or SETS, their hopes were dashed when Hong Kong's market crashed on Thursday, October 23, three days after the new system's inaugural session.
That sent markets reeling around the world. SETS first day, Monday, October 23, took place before the crash, and the FTSE 100 slumped a mere 1.1%, in an otherwise uneventful Tenth anniversary to Black Monday on Wall Street.
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