In a release, on Wednesday, BSE made it clear that after extensive review of trading of RIL by it during that episode “we wish to inform the market that there does not appear to have been any manipulation involved in the scrip. The price decline was the result of a human error.”
It also said its trading systems worked properly during the sharp price decline and subsequent rebound and the “dummy” circuit filter worked to limit the price decline to less than 20 per cent, as it is designed to do.
It may be recalled on June 1, 2010 at 12.50 hours, a large sell order in equity shares of RIL was entered in error, manually by a dealer of one of BSE member firms for 1,60,000 shares with Market as the order condition, rather than time-slicing the order into smaller orders as instructed by their client.
Published 09 June 2010, 14:54 IST