On Monday, October 19, 1987, stock prices crashed worldwide; the U.S. Dow Jones stock index fell nearly twenty-three percent that day. Nicolas F. Brady, then U.S. Treasury Secretary, then appointed a Presidential Task Force to investigate the causes of the crash. The report, published the following year, examined the financial market and, above all, uncovered typical behaviors of market participants. Algorithmic trading on the stock market was cited as a major cause of the crash. A number of regulatory measures were proposed in the report and subsequently implemented for the most part in the meantime. – See London Procedure, Louvre Accord.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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