Nanex Research

Nanex ~ 02-Aug-2013 ~ More Proof That HFT Causes Flash Crashes

On August 2, 2013 at 9:36:44, the stock of Kemper Corporation (symbol KMPR, market cap $2 billion) rocketd from $39.01 to $357.90, gaining about $18 Billion in market capitalization.

1. KMPR Showing bids and asks color coded by exchange and NBBO (dark gray shade).
The algos led the price up. And back down again.

2. KMPR Showing trades color coded by exchange and NBBO (dark gray shade).

3. KMPR Showing best bids and asks color coded by exchange and NBBO (dark gray shade).

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