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While You Were Sleeping The NYSE Boerse Crashed... Again
Everyone is on Rule 48 watch today because while speculation addicts in America was snoring, European markets were not doing that hot, leading to the now traditional exchange break. The reason per the FT: "NYSE Euronext’s European equities, bonds and ETFs markets opened later
on Monday due to technical problems, that knocked out trading on the
Paris, Amsterdam, Lisbon and Brussels." And from the horse's mouth - the NYSE "Boerse" Euronext said: “Due to technical issues the pre-opening phase for
regulated equities and bonds and ETFs, opening of the continuous trading
session will be delayed....Consequently, we have halted the regulated warrants and certificates
market given the unavailability of the cash markets." Translated: this is merely a test for an alternative ending for when the markets drop to that level where NYSE circuit breaks are triggered... anywhere between 1,200 and 2,400 points on the Dow Jones.
More from the FT:
Chi-X Europe suffered its second outage in three days last Wednesday, forcing an early end to trading on Europe’s largest share trading platform by volume.
The outage came after a string of outages that hit Chi-X Europe last week and last month, and highlights how technical problems at exchanges and trading platforms are increasingly routine.
A technical glitch, the third since May 23, forced trading on the alternative trading venue to come to a halt 15 minutes before the close.
NYSE Euronext announced the launch of NYSE BondMatch on Monday, a multilateral trading facility, that has already received regulatory authorisation and will begin trading on July 11 2011.
It will be just swell, when NYSE halts not just equities trading on a market collapse but bonds as well. Just swell.
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Qatar Investment Authority ready to acquire a significant stake in Spanish main telecom co. TEF SM Equity .
Deal Close to 2.000 Mn $ according to financial placement agents.
Watch Out TEF and Qatar Holdings.
What you are doing is illegal and ZH should be editing/removing your postings because they can be held responsible.
only stupidity is illegal not intelligent surmising in Plato's world; but TPTB see it differently. That is why they are uber-legalis...in their own demented minds.
pump and dump scams are not legal and these posts have appeared in most of the threads I have opened today, it is the website operator that gets held accountable and unless you want to see ZH shut down by the SEC I suggest we all start confronting this guy.
Glitches, bittches
Couldn't resist a first post.
BTFD
Anyone needing an IT job: I'm willing to bet the NYSE IT department has some vacancies.
Not me. I know enough to understand that Workers can come here on Worker VISA and be hired first before me with my Citizenship in my own Homeland.
Besides New York needs to become a free state and join the rest of the Union.
Glitch my ass. I checked the overnight ticker at 11 last night just before bed and Dow futures for the A.M. open were down 80, there was serious red on the board. I woke so excited to see how big the opening drop would be that I almost forgot to switch on the coffee pot, and that is really unheard of.
So, what do I find when I check in at Bloomberg? Market opened down 25 in the first few minutes and then as if some giant with trillions in the bank stepped in and fixed all prices it was up from -25 to +90 with nary a hiccough to be seen. How many times have we seen this action since 2008? The market will make a move to the down side and just before people start to smell panic up and away for no rational reason, till it hits a certain level and bingo it gyrates sideways within 10 points the rest of the day. As if some huge invisible buyer is buying and selling acting like the weight on the lid of a pressure cooker.
Every theory of pricing I ever learned in college = worthless when stock prices can be more or less openly manipulated like this.
By the way, when the NYSE market peaked at just over 14,000 the market cap was 21 trillion+/- a few hundred billion, by dividing the 14 into the 21 you got in the region of 1.5 billion bucks per point on the market, which was a good way to think of daily market gains and losses. Then came the crash and finding the market cap became really difficult, made worse by the merger of NYSE and Euronext. But, the index was not adjusted post merger so it seemed to be just an ownership move and not a real wedding of two markets.
They now are publishing the market cap on their website again, I think last time I checked was a year or so ago, they say that the 7,950 listed issues has a cap of 26.4 trillion, and the composite as of 2 minutes ago was at 8040. That is 3.28 billion per point on the NYSE, for what it is worth, it is just another way of thinking about how much actual money is getting jiggled in the daily trades of the markets. It is easy to think in terms of some points here or a hundred up points on the market today, but when you realize that 100 up points means buyers stepped up and plowed 328 billion into the market when you would not put your lunch money into it without taking a Prozac and slug of tequila it makes you wonder by what mechanism stocks are valued post 2008. How many of our laws are being broken without anyone saying a word. How many selected players are being handed billions in real wealth to stay quiet? When will it end? Will it?
Is it me or are these "glitches" becoming more frequent. I used to never hear of any problems like this occuring and now it seems like it happens more and more.
70 year old electrical infrastructure, combined with 12 year old teleco equipment and ever expanding data centers that need a lot of AC and power.
Read an interesting article on US/North American power ratings.
http://www.grist.org/climate-energy/2011-06-16-what-the-us-power-industr...
We're in the D+ category btw. I would point out the solar storms we've got schedueled, but I'm doubting their effectiveness in blowing the entire power grid. I would point out that the power infrastrucutre we have was designed in the 40's and 50's and scaled for a population that was theorectically capped at 200 million. Well the US is around 340 million and no significant changes in either power distribution or new venues for power production have happened in any meaning ful way since the early 80's.
To emphasize this, my power lines are strung along the tops of tree trunks.
Tree Trunks...in the age of nuclear power.
SOmeone will be by soon to replace that tree with popsickle sticks.
Those trees make good firewood. However it is trimmed regular.
Or simply removed when necessary after Storms. It is easier this way to replace a substation and restring the county and towns in a week or so than it is to painfully rebuild a good infrastructure that will withstand power issues.
And at these prices for a few hundred kilowatts of power a month way cheaper than Solar, Wind, Geo or other alternative power to live off the grid; produce and export excess power back for revenue income to pay off initial cost of new systems installed into the Home...
I guess with this kind of infrastructure that dates back to the days of Telegraph wire in the 1800's along with Pony express, it should be kept that simple so no one regardless of skill level or ability to use a shovel for wages will be left out.
Bonuses up, infrastructure improvements down.
No one will see it coming.
They can no longer afford to give the hamsters that turn the wheels full daily rations of food due increased prices. But there is no infation.
stupid double post bug.
You are right, funny coincidence, last week, wednesday around 9pm utc we had a routing outage on our gig eth line too. They told us it was a brownout at the datacenter provider of the german decix.
Kill switch testing? :-)
The Correlation between technical "glitches" and down markets is 1, -1 in up markets
No comment from LulzSec?
LuLzSec and 4chan.org/b/ are at war with each other right now along side the reddit crowd. It's summer time, the summerfags are out doing their thing.
Although the government is now starting to take some of the recommendations given years ago seriously now to both decrease the security window and cut costs. They are looking at closing half their websites. that and government websites are usually a jumbled, fucked up mess designed by committee.
http://latimesblogs.latimes.com/technology/2011/06/government-plans-to-d...
1,200-2,400 Dow Jones Points?! TD my stomach went into a spiral & I do not have a position in the market - the implications are staggering...
It's dropped like that before, it's the reason the kill switch has been installed.
The book that no one reads.. the rules and regulations sent to everyone in Congress / Senate.. no one reads it! its online! well when has online been a brick and mortor / book / real tangible thing? there is NO! written rule book to follow they just threw out the book in favor of lulsec or me changing the rules! LULZ!
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Thank God ALL the Presidential Docs are on-line and not in a paper back form that can be held onto.. digital editing of history is so MUCH easier when you dont need to re-print a Billion Books..
Does NO ONE see this shit? and the whole World applauds while History being re-written is a key stroke away! You fucking Sheep DESERVE IT! You Deserve what is going to happen to YOU!
Drastic times call for drastic measures. There is practically no accountability at the top. They will keep squeezing and obfuscating. Too many rats in the cage.Look out down below!The bankers will get their kazillions even if they have to eliminate whole populations and destroy the planet to do it.
You aint seen nothing yet.
What a fake open. Turn off the markets, whack gold so that you can whack the dollar, reopen, PPT holds and pumps. Hold the line until POMO 1.5 hrs. whew! If I were a bull and saw the market makers pulling this bullshit I would not be a bull much longer since this reeks of desperation.
accountability = technical problems for exchange/trading platform/boerse
one wonders whether some of these tech probs are being helped along. is there enuf gamma on the table for the sigma on the wind?
When Irish eyes are smiling, at Rory's exploit at Bethesda, and Imperial eyes are crying at Contrary play in Euro futile bootstrapping, ask yourself one simple question : why "we the people" are agonising in dismayed, unbelieving retraction, and why "we the Oligarchy" reigns supreme, fighting furiously, each for his share__ knowing there is no "other" solution in the air__ for the prize on the table of the unbelievable heap of robbed riches from the sheeple-world. We are back in Sherwood Forest and where is Robin Hood lurking?