Update
Nomura's Risk Management Unraveling
Nomura's McElligott reported that 124 trades on pairs were halted on the firm's Long/Short monitor, including 47 trades larger than three standard deviations, 26 larger than four, and 6 larger than five. This stop-out/capitulation mode is a result of traders forced to survive the year-end downturns and prevent capital decimation before the new year's NLP turn.