Here's an audio blow-by-blow from the S&P trading pit, approx. 11 minutes; pretty exciting: http://www.archive.org/download/MarketCrash-06May2010-SpPit/Market-Crash.mp3 http://www.archive.org/details/MarketCrash-06May2010-SpPit At 11:32 AM 5/9/2010, Axel Vogt wrote:

I think it is deeper an you find some discussion between practitioner at http://www.nuclearphynance.com/Show%20Post.aspx?PostIDKey=142075 (though it is not much about automated trading and hedging, more about that very event and rules related)