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Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more

 
Anonymous Coward
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08/01/2012 12:00 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
All paper will bur. Keep stackin'

[link to www.brotherjohnf.com]
[link to www.youtube.com]
 Quoting: BrotherJohnF 1230158


BURN
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08/01/2012 12:01 PM
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bsflag
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08/01/2012 12:03 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Coluld some one in simple words explain what this thread is about?
Anonymous Coward
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08/01/2012 12:03 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Thread: Financial Experts: August 1st Economic Collapse; Economic Death Spiral


whistle
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08/01/2012 12:04 PM
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bump
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08/01/2012 12:07 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
pissanti says:

again i think what this would point out, agian we still don't know what the source is... but i'm almost sure this is a software problem

it's a problem interacting w/ somebody from another from somewhre outside the NYSE
 Quoting: Anonymous Coward 3297006


The same thing bringing down the Indian electric grid?

Stuxnet?

Ghost in the Machine?

Thats the problem with a near 100% correlated market

you can bring the whole thing down pretty easily
 Quoting: Baltar


May not be tied in but yesterday was doing both checking accounts(diff-banks)both automated systems were fucking up BAD!

Took me 3 hours just ta up-date both,screwy shit going on!
Anonymous Coward
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whistle



Thread: Financial Experts: August 1st Economic Collapse; Economic Death Spiral


shocked
Baltar  (OP)

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08/01/2012 12:09 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
pissanti says:

again i think what this would point out, agian we still don't know what the source is... but i'm almost sure this is a software problem

it's a problem interacting w/ somebody from another from somewhre outside the NYSE
 Quoting: Anonymous Coward 3297006


The same thing bringing down the Indian electric grid?

Stuxnet?

Ghost in the Machine?

Thats the problem with a near 100% correlated market

you can bring the whole thing down pretty easily
 Quoting: Baltar


May not be tied in but yesterday was doing both checking accounts(diff-banks)both automated systems were fucking up BAD!

Took me 3 hours just ta up-date both,screwy shit going on!
 Quoting: Anonymous Coward 21056721


Some in my group said they just started getting alerts regarding delays in quotes for US equities
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Baltar  (OP)

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08/01/2012 12:10 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more


Thanks. I am not ruling anything out, but letting the story develop

Yesterday's ES trade, this morning's open means we are in flash crash potential territory

Doesn't mean it happens, but sure isn't a sunny day at the beach...weird clouds on the horizon
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
marlborolightsplease

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08/01/2012 12:12 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
cnbc is now downplaying it. op good job at breaking the story news
Anonymous Coward
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08/01/2012 12:17 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
A tech issue affected 150 nyse stocks.
related to routing.
not caused by an individual
From Knight Capital - a paraphrased statement.
Anonymous Coward
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08/01/2012 12:18 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Coluld some one in simple words explain what this thread is about?
Baltar  (OP)

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08/01/2012 12:19 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Reasons why insiders could be selling yesterday and today



Markets await ECB action on bond markets, but measures may fall short of raised expectations


FRANKFURT - When European Central Bank head Mario Draghi said that he was ready to "do whatever it takes" to save the euro, he fueled investor hopes the bank would again start buying government bonds to lower borrowing costs for struggling countries.

Just one problem: the ECB has tried bond-buying before. And it didn't work very well — the action was seen as too hesitant and fell short of decisively lowering borrowing costs for stricken Spain and Italy.

Analysts say that Draghi has raised expectations for action so high that markets could be sorely disappointed if no new bold measures are announced Thursday.



[link to www.startribune.com]
____________________________________________

BBG: U.S. Bond-Swap Divide Evaporates In Stress Sign: Credit Markets

[link to www.bloomberg.com] > $HYG

“It’s an indication people are concerned about recession,” Michael Hampden-Turner, a strategist at Citigroup Inc. in London, said in reference to the rising cost of default insurance over relative yields on the bonds.

“It’s usually an indication of stress.”


______________________________________________

[link to globaleconomicanalysis.blogspot.com]

ESM Banking License? Not Happening as Merkel Allies Harden Opposition


Bloomberg reports Merkel Allies Harden Opposition to Granting ESM Bank License

German Chancellor Angela Merkel’s coalition rejected granting the permanent euro rescue fund access to European Central Bank liquidity via a banking license, as the Finance Ministry said it saw no need for any such move.

The rules of the European Stability Mechanism don’t provide for refinancing through the ECB, the ministry in Berlin said today in an e-mailed response to questions.
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Baltar  (OP)

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08/01/2012 12:23 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Coluld some one in simple words explain what this thread is about?
 Quoting: Anonymous Coward 21042590


Yesterday, someone dumped a huge number of S&P 500 futures after the close

This morning, one of the main companies responsible for stock qutoes, had unusual technical problems, causing 148 stocks to either gap down 10-15%, or gap up 10% or higher on no news

In other words, the computers running the stock market in the US are acting very strangely and no one can explain why

Another example of very strange behavior was the "flash crash" some years back

It makes people very nervous when something controlling so much money, which influences financial markets around the world, is acting as if possessed

In light of yesterday's electric grid shut down in India and a few other unexplained events, it is just adding to the general sense that something isn't quite right behind the scenes

Remember when the ATMs in the UK weren't working, and millions of people were affected, and couldn't get their money? That is another example of these weird software glitches at the highest levels of banking and finance

The weird thing is that in 1999, everyone was expecting this kind of issue when the calendar rolled over, Y2K fears

Nothing happened.

But now, this is going on....

Does that help?

Last Edited by Baltar on 08/01/2012 12:25 PM
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Anonymous Coward
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08/01/2012 12:24 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
I think i read on zerohedge last week about Italy,Spain leaving the euro first before Greece.
Saddletramp

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08/01/2012 12:25 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
They're blaming a "Rogue Algorithm" for the chaos in the markets this morning?!?!?

So the computers actually have taken over...

ahhh
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

"We don't rent pigs!"
Whole lee shit

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08/01/2012 12:35 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
List of all the executives of Knight capital. Im sure we can dig up some dirt on these folks. [link to www.knight.com]
"You can go to hell -- I'm going to Texas!" - Davy Crockett

You think Einstein walked around thinkin' everyone was a bunch of dumb shits? Now you know why he built that bomb
Baltar  (OP)

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08/01/2012 12:41 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
They're blaming a "Rogue Algorithm" for the chaos in the markets this morning?!?!?

So the computers actually have taken over...

ahhh
 Quoting: Saddletramp


rogue algorithm = virus

= stuxnet?

In 2001, Arthur C Clarke foresaw where this dependence on technology might lead

Hal Gone Mad:


The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
AmericanJedi

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08/01/2012 12:44 PM
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I am a Jedi...hf
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Baltar  (OP)

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08/01/2012 12:45 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
They're blaming a "Rogue Algorithm" for the chaos in the markets this morning?!?!?

So the computers actually have taken over...

ahhh
 Quoting: Saddletramp



I just found this. It may be nothing, but the timing - given the escalating tensions with Iran, bear some watching

Again, lets see how this develops, whether it gets resolves, or whether as with the bank glitch in the UK, it drags on for days...



[link to www.defpro.com]

As US- and European-led political negotiations as well as the attempts of UN representatives failed to convince the Iranian government towards abandoning its nuclear programme, the adopted path of a cyber attack was the most effective and safest one, gaining time for possible future military solutions. The Stuxnet attack was a masterpiece of technological sabotage, including the clear signal to the Iranian leadership that not only conventional military means promise success in arguing an opponent out of his plans.

What has been feared by many IT safety companies – a cyber attack against security-critical infrastructures such as power plants, energy providers, stock markets or banks, possibly paralysing the economic system – has already happened with the Stuxnet attack.

The worm has been developed as a military weapon and has been successfully used on a very limited field. There even was no collateral damage until the malware accidentally reached the Internet and, thus, the public field. Its particular programming and operating mode are almost perfectly tailored to its specific task. Its discovery had to be expected sooner or later as such a worm cannot be concealed forever.

The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
ANNONYMOUS
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08/01/2012 12:46 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
5a

There is something definitely wrong. The averages all of them have very slowly moving in a somewhat narrow range all day. It would appearperhaps that computer trading has given way to individual ordering.
Saddletramp

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08/01/2012 12:47 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
They're blaming a "Rogue Algorithm" for the chaos in the markets this morning?!?!?

So the computers actually have taken over...

ahhh
 Quoting: Saddletramp


rogue algorithm = virus

= stuxnet?

In 2001, Arthur C Clarke foresaw where this dependence on technology might lead

Hal Gone Mad:


 Quoting: Baltar


That was a fast unpin?!?!? I thought this was important, but the press is shrugging it off like it was nothing. Scares the shit out of me...

Oh BTW, I sent you a PM Baltar...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

"We don't rent pigs!"
Saddletramp

User ID: 726900
United States
08/01/2012 12:49 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Ooops, my bad, now this thread is showing back up on the Pin list...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

"We don't rent pigs!"
Baltar  (OP)

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08/01/2012 12:49 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Off topic:

The Digital Threat

by Torsten George

The growing number of cyberattacks has become one of the most serious economic and national security threats facing companies and governments. And while the headlines have focused on data breaches at organizations including Sony, the International Monetary Fund, Lockheed Martin, Google, Citigroup and the Arizona Department of Public Safety, U.S. infrastructure is also susceptible to attacks.

Critical infrastructure operators have to be on the offensive against cybercriminals no matter whether they oversee stock markets, power grids, railways, nuclear plants, water supplies, health care facilities, chemical plants, telecommunications or research laboratories.

All are prime targets for hackers.

Unscrupulous "black hat" hackers, which include organized cybercriminals, terrorists and state-sponsored attackers, still present a major threat.

For instance, organized cybercriminals could attempt to manipulate the stock market or ask for ransom in exchange for not harming the provider's infrastructure
. There have been several unconfirmed reports of businesses and industry sectors being hit with extortion attempts.

[link to www.rmmag.com]
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Whole lee shit

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08/01/2012 12:50 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Looks like Knight Capital implemented a new financial reporting segment was designed to avoid problems like they are having today. [link to www.prnewswire.com]
"You can go to hell -- I'm going to Texas!" - Davy Crockett

You think Einstein walked around thinkin' everyone was a bunch of dumb shits? Now you know why he built that bomb
Anonymous Coward
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08/01/2012 12:52 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
They're blaming a "Rogue Algorithm" for the chaos in the markets this morning?!?!?

So the computers actually have taken over...

ahhh
 Quoting: Saddletramp



I just found this. It may be nothing, but the timing - given the escalating tensions with Iran, bear some watching

Again, lets see how this develops, whether it gets resolves, or whether as with the bank glitch in the UK, it drags on for days...



[link to www.defpro.com]

As US- and European-led political negotiations as well as the attempts of UN representatives failed to convince the Iranian government towards abandoning its nuclear programme, the adopted path of a cyber attack was the most effective and safest one, gaining time for possible future military solutions. The Stuxnet attack was a masterpiece of technological sabotage, including the clear signal to the Iranian leadership that not only conventional military means promise success in arguing an opponent out of his plans.

What has been feared by many IT safety companies – a cyber attack against security-critical infrastructures such as power plants, energy providers, stock markets or banks, possibly paralysing the economic system – has already happened with the Stuxnet attack.

The worm has been developed as a military weapon and has been successfully used on a very limited field. There even was no collateral damage until the malware accidentally reached the Internet and, thus, the public field. Its particular programming and operating mode are almost perfectly tailored to its specific task. Its discovery had to be expected sooner or later as such a worm cannot be concealed forever.

 Quoting: Baltar

Could be ...
AmericanJedi

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08/01/2012 12:52 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
They're blaming a "Rogue Algorithm" for the chaos in the markets this morning?!?!?

So the computers actually have taken over...

ahhh
 Quoting: Saddletramp



(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
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08/01/2012 12:52 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Coluld some one in simple words explain what this thread is about?
 Quoting: Anonymous Coward 21042590


Thank you! I was thinking the same thing!
AmericanJedi

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08/01/2012 12:53 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
[link to www.marketwatch.com]
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 21058743
Portugal
08/01/2012 12:53 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Knight shares dive; trader admits routing problems. SAN FRANCISCO (MarketWatch) -- Knight Capital /quotes/zigman/378317/quotes/nls/kcg KCG -21.30% shares dropped 20% to $8.28 Wednesday, notching a new 52-week low, as the NYSE Euronext's /quotes/zigman/421745/quotes/nls/nyx NYX -1.81% New York Stock Exchange said it was investigating trades in more than 100 stocks, and market-maker Knight said software problems had resulted in some routing problems. "An initial review by Knight indicates that a technology issue occurred in the company's market-making unit related to the routing of shares of approximately 150 stocks to the NYSE," said Knight spokeswoman Kara Fitzsimmons in an emailed statement. She said Knight told its clients to send their orders to other firms. Symbols under investigation, according to the NYSE, include AIG /quotes/zigman/557836/quotes/nls/aig AIG -0.48% , American Express Co. /quotes/zigman/217470/quotes/nls/axp AXP -0.61% , Coach Inc. /quotes/zigman/263421/quotes/nls/coh COH +0.42% , Bank of America Corp. /quotes/zigman/190927/quotes/nls/bac BAC -0.34% and Citigroup Inc. /quotes/zigman/5065548/quotes/nls/c C +0.04% .
[link to www.marketwatch.com]





GLP