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Username: BobM

Rating:
Guru Stars

Asked to: Dara Madee

Date Created: 17 Nov 2016
Category 28
Tag Financial
Question Please give the definition of 'Fat Finger Error'.
Advice from Guru
Hello BobM,

A human error caused by pressing the wrong key when using a computer to input data. Fat finger errors are often harmless but can sometimes have significant consequences for example, if the wrong number is entered in performing a mathematical calculation.

In the aftermath of the May 6, 2010, "flash crash" that caused a significant, rapid and unexpected drop in the Dow, one possible early explanation was fat finger error. The idea was that a trader had entered an order incorrectly, placing the order in the billions rather than the millions. In reality, such trading errors are unlikely because of safeguards implemented by brokerages and exchanges.
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