The U.S. financial markets faced an unprecedented rapid decline and recovery on May 6, 2010, known as the May 6 flash crash. Roughly one trillion $ market value in less than thirty minutes vanished with the biggest one-day point decline in the history of the DJIA at the time. Since the market events took place in electronic markets, and algorithmic trading and high-frequency trading, parts of FinTech, played significant roles, we handle the May 6 flash crash from the FinTech, SupTech, and financial supervision perspectives. With the flashback method, we analyzed the reactions of market participants, media, and two financial supervisors, the SEC, and the CFTC, to the market crash. We find that the technological imbalance between financial markets or institutions and their supervisors drove the markets in uncertainty, hence in a fear and panic environment. Since the imbalance has not diminished yet, the same risks still exist. As a remedy, we introduce a new concept and model with a well-functioning SupTech system to cope with the May 6 type FinTech crises.

2010年5月6日，美国金融市场面临前所未有的快速下滑和复苏，即5月6日的闪电崩盘。在不到30分钟的时间里，市值蒸发了近1万亿美元，这是当时道琼斯工业平均指数历史上最大的单日跌幅。由于市场事件发生在电子市场上，而金融科技的部分领域中算法交易和高频交易发挥了重要作用，因此我们从金融科技，SupTech和金融监管的角度来应对5月6日的闪电崩盘。使用闪回方法，我们分析了市场参与者，媒体和两个财务主管（SEC和CFTC）对市场崩溃的反应。我们发现，金融市场或机构及其监管机构之间的技术失衡使市场陷入不确定性，因此处于恐惧和恐慌的环境中。由于不平衡现象尚未消除，因此仍然存在同样的风险。作为补救措施，我们引入了功能完善的SupTech系统的新概念和模型，以应对5月6日发生的FinTech危机。