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"Technical Glitch" Takes Down Australian Stock Exchange

Tyler Durden's picture


After last week we saw the Euronext, the Italian and the London Stock Exchanges crashing and burning, it is now Australia's turn. According to the ASX, the exchange is "currently experiencing technical difficulties regarding trade dissemination on Partition 3 Securities" which in non-binary means the prices on the ASX are not updating. Must be all that pent-up buying pressure over the continuing Libyan revolution... Of course, those who only trade the futures, such as the big banks and the quant desks are immune as futures are still trading without a glitch. How long before the threat of a racist, unpatriotic down print takes down the Nikkei, the Shanghai Composite, and finally the Deutsche NYSE? Luckily, the Nasdaq where only C-grade vacuum tubes trade any longer, will be spared.



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Mon, 02/28/2011 - 01:02 | Link to Comment Rahm
Rahm's picture

Those darn T.G.'s keep causing harm.

Mon, 02/28/2011 - 01:04 | Link to Comment Josh Randall
Josh Randall's picture

Silver and Gold don't have glitches so I'm sticking with them -- poor Aussies have been through enough already, totally ridiculous

Mon, 02/28/2011 - 01:05 | Link to Comment RobotTrader
RobotTrader's picture


Now the 17-year old gamers have a Hall Pass, they are all shooting spitballs at each other while the FemBots have all walked off stage to find out what the problem is....

Now they need to unleash some 16-year old hotties.....

Mon, 02/28/2011 - 02:59 | Link to Comment FeralSerf
FeralSerf's picture

Testing, 1...2....3....4

I drink your milkshake!  I drink it up!


Mon, 02/28/2011 - 01:16 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

HEY NOW they just need a Vegimite Sandwich! Prob. have a head full of zombie.

Mon, 02/28/2011 - 01:42 | Link to Comment Michael
Michael's picture

Great song, thanks.

Perhaps we need more innovation from Microsoft to fix the problem.

Who is going to fix this problem? I know it's old news but I haven't heard anything about it in a couple months.

Talk about consumption collapse, when is this going to get priced in?

4 Million Americans Set To Lose Unemployment Benefits Even If Congress Passes Extension


Mon, 02/28/2011 - 01:51 | Link to Comment Temporalist
Temporalist's picture

Which means the record high enrollment in food stamps (SNAP) will keep increasing.

Mon, 02/28/2011 - 03:27 | Link to Comment AUD
AUD's picture

Vegemite. And are you trying to tempt me?......cause I come from the land of plenty.

Mon, 02/28/2011 - 01:22 | Link to Comment barliman
barliman's picture


Technical glitch definition: any set of trades that would cause a 10% or greater downturn in any market in any period shorter than a fortnight.

Zerohedge quiz for this week - accurately predict the number of technical glitches announced between the opening of trading on Monday February 28, 2011 and the regular trading close of 4:00 PM EST on March 4, 2011. The winner will receive dinner for two with Leo but will, unfortunately, be required to pay for dinner as well as pay for all of their and Leo's expenses. The winner will be announced by Tyler Durden. All of Mr. Durden's decision making process in selecting the winner will the intellectual property of Mr. Durden and is not to be inluded in any HFT programs or quant algorithms.

My guess is 13 - a baker's dozen.


Mon, 02/28/2011 - 01:31 | Link to Comment Fanatic
Fanatic's picture

It was around unchanged when it shut down:^AORD

Mon, 02/28/2011 - 01:24 | Link to Comment colonial
colonial's picture

mid east protests, stocks go up, stock markets shutting down, stocks go up, commodities in rally mode, stocks go up.

I can see it now, US Federal Government shut down over budget impasse, stocks grind higher

Mon, 02/28/2011 - 01:25 | Link to Comment bob_dabolina
bob_dabolina's picture

5 yard penalty; repeat first down.

Mon, 02/28/2011 - 01:31 | Link to Comment Yen Cross
Yen Cross's picture

The Aussie markets are back up. I trade the ASX for my mining shares. It's up and running.

Mon, 02/28/2011 - 01:37 | Link to Comment Hedge Jobs
Hedge Jobs's picture

no its not

Mon, 02/28/2011 - 01:50 | Link to Comment Yen Cross
Yen Cross's picture

It is i can assure it is I just Moved some shares. Who are you clearing through? I put 300 shares of BHP in my own account through. I was smooth as silk.

Mon, 02/28/2011 - 02:16 | Link to Comment 50chickens
50chickens's picture

if you're using commsec they use crossover trades (ie trades between internal accounts without touching the asx)

Mon, 02/28/2011 - 07:18 | Link to Comment Hedge Jobs
Hedge Jobs's picture

Thats bullshit YC. The ASX never reopened today. I deal direct into that market and i will bet my left testicle you never bought or sold BHP after the "glitch".

"Moved some shares" what the hell does that mean? whatever it means they didnt go through the stock exchange so i hope you have a good relationship with whoever "moved" them for you.

Mon, 02/28/2011 - 01:34 | Link to Comment putbuyer
putbuyer's picture

it's happening bitches. 3 pack baby. deal with it.

Mon, 02/28/2011 - 01:35 | Link to Comment Caviar Emptor
Caviar Emptor's picture

"Technical Glitch" = "Limit Down". Can't openly admit those circuit breakers kicked in. That might spook 'em more than a guy with a bomb vest loose in Washington.

Mon, 02/28/2011 - 01:37 | Link to Comment Money Squid
Money Squid's picture

Stuxnet, is that you?

Mon, 02/28/2011 - 02:08 | Link to Comment StychoKiller
StychoKiller's picture

Waddell & Reed are goin' Global! :>D

Mon, 02/28/2011 - 08:46 | Link to Comment spanish inquisition
spanish inquisition's picture

That remark will not be far off the mark in the near future. Previous to the US/Israel targeting of Stuxnet, most hacking was done for information with a goal of not being caught. Now anyone in the world has the US and Israeli stamp of approval to attack any system with the goal of destruction.

Our two weapons are fear and surprise...and ruthless efficiency...

Mon, 02/28/2011 - 01:42 | Link to Comment props2009
props2009's picture

Now it is madoff who says US government is a ponzi

Mon, 02/28/2011 - 02:18 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

Well, the man is an authority.. if you can't believe him, who can you believe?

Mon, 02/28/2011 - 06:33 | Link to Comment Zero Govt
Zero Govt's picture

"US Govt is a ponzi scheme" says Madoff. Is that news??

...maybe not to the sane people who stay at home on election day but probably 'news' to the 50% of insane citizens that vote 'Ponzi Please' come elections

Mon, 02/28/2011 - 01:47 | Link to Comment Cursive
Cursive's picture

I'm waiting for the day when we wake up to the NYSE message:  "It's all gone, bitches!  It's been fun...."

Mon, 02/28/2011 - 01:58 | Link to Comment Bubbles...bubbl...
Mon, 02/28/2011 - 02:45 | Link to Comment Temporalist
Mon, 02/28/2011 - 02:16 | Link to Comment sagerxx
sagerxx's picture

"So long -- and thanks for all the fishes, bitchez!!"

Mon, 02/28/2011 - 01:57 | Link to Comment Misean
Misean's picture

G'Day Shelas and Bruces! Just a bit of a bug, we're on it!

Mon, 02/28/2011 - 02:09 | Link to Comment savagegoose
savagegoose's picture


dont look down, well market is down in price but looks like it traded.

i didnt hear anything on news today, maybe it was all " darl pool " trading today

Mon, 02/28/2011 - 03:02 | Link to Comment Yen Cross
Yen Cross's picture

The ASX is up and running Ladies and Gents. I clear my trades directly through an aussie Broker. Sorry for the delay I'm charting the FX market right now.

Mon, 02/28/2011 - 02:14 | Link to Comment 50chickens
50chickens's picture

if you're using commsec they use crossover trades (ie trades between internal accounts without touching the asx)

Mon, 02/28/2011 - 03:04 | Link to Comment Yen Cross
Yen Cross's picture

Thanks for your info. I'm clearing my trades directly through an Aussie Broker. I specialize in FX. I have offshore trusts, because I own property overseas. Maybe your mechanism is different. Thanks for your help.

Mon, 02/28/2011 - 02:15 | Link to Comment DonutBoy
DonutBoy's picture

Stuxnet's true mission revealed..

Mon, 02/28/2011 - 02:26 | Link to Comment Temporalist
Temporalist's picture

U.S. South Korea war games and threats from Lil Kim about destroying SK's psy-ops.

Police in Oman have a couple of dead protesters in "anti-government" demonstrations.

Ten's of thousands in Yemen demand the president to leave.


And the U.S. pops more Xanax and watches oscar night.

Mon, 02/28/2011 - 02:27 | Link to Comment Aristarchan
Aristarchan's picture

I have never taken Xanax, nor have I ever watched the Oscars. I guess I am kinda out of tune.........

Mon, 02/28/2011 - 02:26 | Link to Comment Aristarchan
Aristarchan's picture

Somebody spill a Foster into the 286 with math co-processor that runs the whole shooting match?

Mon, 02/28/2011 - 02:30 | Link to Comment Milton Waddams
Milton Waddams's picture

The moment globex goes down is the moment it goes the way of open-outcry. Should it happen, it will mark the end of ...

Mon, 02/28/2011 - 02:40 | Link to Comment Milton Waddams
Milton Waddams's picture

BTW, banksy was robbed, and I'm pissed that some punk can hire demon to .. uh .. rep the exploited american citizens ... nevermind. BANKSY clowned it... around and around...

Mon, 02/28/2011 - 03:08 | Link to Comment bullionbaron
bullionbaron's picture

It's times like this that I'm glad I have some wealth outside of the system!

Mon, 02/28/2011 - 03:22 | Link to Comment Yen Cross
Yen Cross's picture

 The ASX 200 ord closed off 6 points @ 4830.5. It is currently 6:21 P.M. in Sydney.The asx cach forwards are up 11 points currently.

Mon, 02/28/2011 - 03:33 | Link to Comment Threeggg
Threeggg's picture

I know its a little off topic here but thought it useful in regards to corn production in the U.S.

from CNN:

U.S. warns extreme food prices will stay

"Mr Glauber forecast that the heavily subsidised US ethanol industry's demand for corn would continue to grow in spite of higher input costs, consuming about 36 per cent of the domestic crop"

and then

The ethanol industry has been criticised for driving food prices higher. But Tom Vilsack, US secretary of agriculture, ruled out any change in US ethanol policy. "There is no reason for us to take the foot off the gas," said Mr Vilsack, the former governor of Iowa, a state in the US corn belt

36% I had no idea !

Mon, 02/28/2011 - 03:57 | Link to Comment EscapeKey
EscapeKey's picture

Some moron posted an article over on BusinessInsider that soaring oil prices are in fact DEFLATIONARY, quoting JPM sources! I don't know why I still occasionally go there...

Anyway, it's 8am in London and the local stock market has of yet seen no glitches today. Of course, if this stellar record is upheld once it opens is the question which remains to be answered.

Mon, 02/28/2011 - 03:45 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Stuxnet = Stoxnet


Stox go nuclear and then they go unclear. Like nuclear waste, no one wants them. 

I can see India slowly sliding into the cross-hairs for an "event". So many variables to yank here.

Cannot help but see long-term cycle correction in the fates of Brit-ish colonies.

Let those aboriginies back on their land. It's so simple. US, stick to the treaties made, trash buereau of Indian Affairs.

If you'll just keep consuming, you will explode. 

Fait accompli.


Mon, 02/28/2011 - 04:49 | Link to Comment amanfromMars
amanfromMars's picture

Hmmm.  It has got nothing at all to do with the following ....

Posted by AmanfromMars on 2/28/2011 12:25:36 AM

ISA, Hi,

There is much that we do not disagree on, however, do you not see the fundamental difference/polar opposite positions in "dictate to the monied and the politically powerful how to use their wealth and power" and "work with and show them another way in which their passions can be put to better and more bountiful use, is SMARTer ProgramMING"?

One is chalk, the other is cheese. Do you know anything of the workings of GCHEESE ..... .... or is IT a QuITe Sublime Alien Project? IT is, is it, one of those Quantum Internetworking Technology SAPs to capture Hearts and Minds and Souls and MkUltraSensitive ProgramMING for Global Operating Devices at Work, REST and Play.?!

Are you in the Need to Know Know, and Au Fait with Higher Definition Futures and ITs Virtual Derivative ZerodDay Trading Platforms/BasedD Space Stations? Which is quite a revolutionary humanoid phorm advance in the evolution of contemplative cave dwellers, is it not?

And what of D, and the course it charts and plots? Boldly going where no man has gone before? :-) ..... ...... although hearts and minds and souls and Agent Weebley and Friends on a Rocket Man Ship and Slow Boat to China have never left the place by all accounts.

And thus is it with IT, a Prepared Domain for SMART Colonisation and Virtual Population.

Silicon Valley ...... you are Hacked? And when it is so, are Windows Catastrophically Expensive to Replace in Obscure and Obfuscating Denial, but an Absolute Bargain to Upgrade with NEUKlearer Armoured Transparent Glazing. The Free Choice is Yours to Make and Take ...... but Ours to Reward and/or Punish Aptly and Thoroughly, right down to the very Heart of the Core Source.

Mon, 02/28/2011 - 08:21 | Link to Comment uranian
uranian's picture

apparently the Nasdaq OMX Nordic/Baltic was having trouble ( prices not updating ) a few hours ago too, according to a twat by FTalpha.

28/02/2011 10:00:38

Technical disturbances in GCF Production - No realtime data available

Dear Customer,

Due to technical issues in GCF Production Environment, there is currently no

realtime market data available via TIP.

Investigation ongoing.

Next update in 15 minutes.

Mon, 02/28/2011 - 08:41 | Link to Comment belogical
belogical's picture

A "glitch" or a way to bailout HFT on the down side. Just say sorry no trading we have a "glitch". Oh, by the way it may last 5 years, sorry for the inconvenience

Mon, 02/28/2011 - 10:12 | Link to Comment highwaytoserfdom
highwaytoserfdom's picture

I live by the motto follow the money... The crony capital gang spent 11b in a private equity deal to buy Sunguard the software behind the exchanges. I don't want to say it is a rigged game but you get sincurist guys like Welsh and Ross getting the propaganda machine.  You never hear of GE plastics being sold to Saudis, GE making more financing German, Japanese and Korean power generation equipment than there own. Ross (Soros boy) buying auto parts suppliers as the Uncle Sam steals GM from bond holders.  If you believe in free markets (my addiction) it will correct.. Then again as Tyler post .... on  a long enough time frame survival rate drops to zero.  

Mon, 02/28/2011 - 19:58 | Link to Comment Buck Johnson
Buck Johnson's picture

Something is happening to these institutions, and I believe it's to make it impossible for momentum (to the downside) and selling to happen.

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