Nanex Research

Nanex ~ 14-Nov-2012 ~ McDonald's Fat Finger

On November 14, 2012 at 10:13:47, 4 different exchanges printed 4 trades in McDonald's stock (symbol MCD) with prices that were far outside the NBBO. Given the trade with the lowest price is about $1.00 lower than the NBBO, this was likely an order entry mistake (a.k.a. Fat Finger).

1. MCD ~ 1 second interval chart showing trades color coded by exchange.

2. MCD ~ 1 second interval chart showing NBBO (National Best Bid/Offer).

3. MCD ~ 1 second interval chart showing bids and asks color coded by exchange.

4. MCD ~ 1 second interval chart showing bids, asks and trades color coded by exchange, from the 4 exchanges that printed the wide trades.
Note that the trades executed at prevailing quotes at each exchange.

5. MCD ~ 1 second interval chart showing trades and quote spread from the 4 exchanges with wide trade prices.

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