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Waddell Named As Mystery Trader In May 6 Market Fall -Reuters

DOW JONES NEWSWIRES A seller of futures contracts during the May 6 market meltdown was money manager Waddell & Reed Financial Inc. (WDR), Reuters reports Friday, citing an internal document from futures exchange operator CME Group Inc. (CME). Waddell sold that day a large order of "e-mini" contracts during a 20-minute span in which U.S. equity markets plummeted, briefly wiping out nearly $1 trillion in market capital, according to the document Reuters obtained. The contracts can act as a directional indicator for the underlying stock index. Regulators and exchange officials quickly focused on Waddell's sale of 75,000 e-mini contracts, which the document said "superficially appeared to be anomalous activity." Gary Gensler, chairman of the Commodity Futures Trading Commission, said in congressional testimony Tuesday that his agency had found one sale was responsible for about 9% of the volume in e-minis during the sell-off in U.S. markets. Gensler said there was no suggestion that the trader, which he didn't identify, did anything wrong in only entering orders to sell. The CME document shows that during the sell-off and subsequent rally, other active traders in e-minis included Jump Trading, Goldman Sachs Group Inc. (GS), Interactive Brokers Group Inc. (IBKR), JPMorgan Chase & Co. (JPM) and Citadel Group. Waddell, of Overland Park, Kan., didn't comment. The CFTC also declined to comment. A CME spokesman, who declined to comment on the document, said the Chicago-based company never discusses customer activity. "We found no evidence of improper trading activity or erroneous trades by CME Globex customers," said CME spokesman Allan Schoenberg. Full story at -Dow Jones Newswires; 212-416-2900

Stock News for Waddell & Reed (WDR)
03/20/201706:45:00Waddell & Reed Financial, Inc. Declares Quarterly Dividend and...
03/03/201716:39:45Proxy Statement (definitive) (def 14a)
02/24/201715:31:41Annual Report (10-k)
02/14/201716:01:47Form 13f Holdings Report (13f-hr)
02/14/201712:13:11Amended Statement of Ownership (sc 13g/a)
02/13/201710:34:55Amended Statement of Ownership (sc 13g/a)
02/07/201712:25:02Amended Statement of Ownership (sc 13g/a)
02/03/201707:45:00Waddell & Reed’s Ivy Affiliate to Introduce Five Index Funds i...
01/31/201707:16:44Current Report Filing (8-k)
01/31/201706:45:00Waddell & Reed Financial, Inc. Reports Fourth Quarter Results
01/30/201710:17:39Amended Statement of Ownership (sc 13g/a)
01/24/201706:45:00Waddell & Reed Financial, Inc. Provides Notice of Conference...
01/17/201712:58:32Amended Statement of Ownership (sc 13g/a)
01/12/201717:53:33Statement of Changes in Beneficial Ownership (4)
01/10/201706:45:00Ivy Expands Lineup with Ivy IG International Small Cap Fund
01/04/201717:07:32Statement of Changes in Beneficial Ownership (4)
01/04/201717:04:33Statement of Changes in Beneficial Ownership (4)
01/04/201717:01:05Statement of Changes in Beneficial Ownership (4)
01/04/201716:56:18Statement of Changes in Beneficial Ownership (4)
01/04/201716:54:36Statement of Changes in Beneficial Ownership (4)

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