Bump in the night: FX flash crashes put regulators on alert

Bump in the night: FX flash crashes put regulators on alertLONDON/NEW YORK (Reuters) - The increasing frequency of flash crashes in the $5.1 trillion-a-day foreign exchange market has regulators scrambling for answers. Sudden, violent and often quickly reversed price moves are now a regular occurrence in world currency markets -- often during the so-called 'witching hour', a period of thin trading between 5-6 pm in New York when currency dealers there have powered off and colleagues in Tokyo have yet to sign on. "The question is, is this a new normal, or is it a canary in the coalmine sort of thing?" said Fabio Natalucci, deputy director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF).




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