NZX halts trading in mid-cap fund after entry error causes price spike

Wed, 17 Oct 2012

Oct. 17 (BusinessDesk) - Trading in the NZX MidCap Index Fund was halted after an entry error caused the share price to spike 79 percent. Several orders were entered in error into the NZX Trading System and matched, prompting a spike of more than 10 percent, the stock exchange watchdog said in a statement. The price jumped to $3.454 from $2.489 this afternoon, according to Reuters data. Trading resumed at 4.30pm in Wellington, and the stock was up 2 percent to $2.489. "NZXR has determined that an error was made as to the matching of the pr...

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