AP Ampco Pittsburgh Corp

CME Group Inc. (CME) Executive Chairman and President Terry Duffy said in a Fox Business Network interview Wednesday that no trades were changed or canceled amid the brief stock-market decline stemming from Tuesday's Twitter hoax.

Asked about the potential danger to the market that could result from algorithmic trading influenced by incorrect reports, Mr. Duffy said that high-frequency trading doesn't represent the whole market.

He said market participants are "looking for directional trades," so "if they see a blip in the market and they all go one direction, there's people buying that activity or there's people selling that activity."

Website: www.foxbusiness.com

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