As a complement of my previous post about the Stock markets Krach and Société Générale (“Société Générale nearly crashed the world Stock Exchange“), I wanted to provide the exact figures about the very heavy operations forced by the French bank onto the markets (closing the outstanding contracts) during the first 3 days days of last week. These activities furiously pushed the European markets down. When you look at the figures, you understand the impact they had.
| Contracts sold by Société Générale |
Total volume of EuroStoxx 50, DAX, FTSE 100 futures |
Ratio to total volume |
|
| 21 Jan | 317,600 | 4,135,100 | 7.6% |
| 22 Jan | 337,000 | 5,227,000 | 6.4% |
| 23 Jan | 237,100 | 4,271,600 | 5.5% |
Of course, when a single operator must sell -with no price limit- more than 5% of the total market volume, you can easily imagine that panic spread quite quickly.
Source: International Herald Tribune.
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