‘Flash’ Enters the Financial Vocabulary
The term “flash” first appeared within the context of a new process of quote or order displays that are measured in milliseconds – that is, “flash quotes.” Utilizing this new process to trade has been referred to as “flash trading.” … … The unprecedented events of May 6, 2010, are referred to as the “Flash Crash.” However, given that the S&P 500 Index E-mini futures contract price declined by more than 5% between 2:32:00pm and 2:45:28pm AND rebounded by around 5% between 2:45:33pm and 3:00:00pm, in all fairness this event should be referred to as the “Flash Crash & Recovery” or the “Flash Bounce.”
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