Liquidation Incident Emerges

A sharp move in one or more heavily traded U.S. stocks triggers forced liquidations in the new perpetual contracts. The episode is more likely to be a contained market-structure problem than a systemic event, but it would draw immediate scrutiny from the CFTC, SEC, brokers, and congressional committees.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.