Russian Exchange Halts FX Trading Due To "Software Glitch"

Tyler Durden's picture


BATS, Nasdaq, Knight, NYSE, and now the MICEX Moscow exchange - everyone is following the tried and true principle: If complete trading halt due to unknown circumstances, then blame software glitch. At 3:58pm local time, FX trading in the Moscow market halted FX trading due to what spokesman Nikita Bekasov said, was a "software error." Unclear if this is the same kind of error that nearly wiped out Knight in a few minutes of trading. What is clear is that it is always the software's fault, never the programmer. Also, no mention of a rogue Stuxnet variant has been ever mentioned here, or anywhere else. Finally, we eagerly await the latest report of weekly equity flows due out later today: one doesn't have to confuse statistics with heuristics and have a political prediction blog to know the number will be negative as usual.


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Wed, 11/14/2012 - 09:10 | 2979311 HelluvaEngineer
HelluvaEngineer's picture

I'll have to take your word for it.

Wed, 11/14/2012 - 09:11 | 2979320 GetZeeGold
GetZeeGold's picture



In Russia...the market halts you. Take my word for it.

Wed, 11/14/2012 - 09:14 | 2979327 a growing concern
a growing concern's picture

Damn.  You beat me to it, you commie bastid.

Wed, 11/14/2012 - 09:51 | 2979426 maxmad
maxmad's picture


Wed, 11/14/2012 - 10:12 | 2979493 kito
kito's picture

you will soon learn about their currency................the ruble will be a force by decades end...............russia is doing everything right, the u.s. is doing everything wrong.................

Wed, 11/14/2012 - 11:32 | 2979793 insanelysane
insanelysane's picture

But then Goldman and JPM will notice and go "help" them.

Wed, 11/14/2012 - 12:29 | 2980063 Matt
Matt's picture

At Knight, it wasn't the programmer's fault; the software did exactly what it was supposed to. Whoever copied the test software onto the production platform is the one who screwed up. Always the junior people left with too high of responsibilities; same as at Chernobyl. 

Wed, 11/14/2012 - 09:17 | 2979335 edb5s
edb5s's picture

Beat me to it.

Wed, 11/14/2012 - 09:16 | 2979333 Gully Foyle
Gully Foyle's picture

My my our hackers are working overtime these days.

(Biden 2016, Hey I inherited this mess)

Wed, 11/14/2012 - 09:34 | 2979376 azzhatter
azzhatter's picture

The past 8 years have been a disaster- Biden 2016

Wed, 11/14/2012 - 10:18 | 2979511 IAmNotMark
IAmNotMark's picture

LOL - The past 8 years have been a disaster - LOL - Biden 2016

There.  Fixed it for you.

Wed, 11/14/2012 - 10:17 | 2979507 IAmNotMark
IAmNotMark's picture

(Biden 2016, Hey I inherited this mess, ROTFLMAO)

There.  Fixed it for you.

Wed, 11/14/2012 - 09:18 | 2979338 Death and Gravity
Death and Gravity's picture


Wed, 11/14/2012 - 09:14 | 2979328 Mae Kadoodie
Mae Kadoodie's picture

Suxnet for them.

Wed, 11/14/2012 - 09:17 | 2979336 fonzannoon
fonzannoon's picture

What's up this morning? It's the reverse of yesterday. Kevin found his girlfriend banging the poolman. Kevin Angry!

Wed, 11/14/2012 - 09:30 | 2979366 HelluvaEngineer
HelluvaEngineer's picture


Wed, 11/14/2012 - 09:24 | 2979348 ThirdWorldDude
ThirdWorldDude's picture

Their software must've caught fire.

Wed, 11/14/2012 - 09:27 | 2979355 LongSoupLine
LongSoupLine's picture



"software glitch" = HFT algos have found mother russia.

Wed, 11/14/2012 - 09:29 | 2979363 Gandalf6900
Gandalf6900's picture

woooooooooooooooops...wrong door.

Wed, 11/14/2012 - 09:28 | 2979360 Gandalf6900
Gandalf6900's picture


Wed, 11/14/2012 - 12:38 | 2980111 Matt
Matt's picture

Throw the switch!

Wed, 11/14/2012 - 09:30 | 2979364 plaspotje
plaspotje's picture

many large companies are dealing with the stuck-forever-net virus so the american saying "" what goes around comes around "" start to have some true meaning ,,    not to mention  atomic bombs  stealt fighters   drones ext ext 

Wed, 11/14/2012 - 09:30 | 2979365 dvsteenk
dvsteenk's picture

a software glitch that allowed markets to go down, cannot have that

Wed, 11/14/2012 - 09:32 | 2979371 plaspotje
plaspotje's picture

remember that poison gas i ww1 that a jewish german invented   ,, came in sure handy in ww2,,   to those moron governments   do not invent to much ,, it will come back to  hunt you

Wed, 11/14/2012 - 09:33 | 2979372 bugs_
bugs_'s picture

Free Sergei....oh wait they did free him.

Wed, 11/14/2012 - 09:33 | 2979373 Fix It Again Timmy
Fix It Again Timmy's picture

That damn Peggy.....

Wed, 11/14/2012 - 09:35 | 2979379 azzhatter
azzhatter's picture

Peggy pissed off the NHL is on lockdown.

Wed, 11/14/2012 - 09:40 | 2979392 AU5K
AU5K's picture

All is well, comrades.

Wed, 11/14/2012 - 10:04 | 2979469 Sweet Chicken
Sweet Chicken's picture

I love the word comrade for some reason. :/

Wed, 11/14/2012 - 09:41 | 2979394 Quinvarius
Quinvarius's picture

And suddenly your paper is useless to you.  That is how fast it can happen. 

Wed, 11/14/2012 - 09:48 | 2979411 kito
kito's picture

say what you want about russia, but they are just about the only country to act with some monetary sanity lately.................they actually had the audacity to raise interest rubles to diversify......the physical ones.........................when the american empire folds this decade, you can be sure the yuan and the ruble will play a prominent role in the worlds next currency reserve system...................

Wed, 11/14/2012 - 10:20 | 2979519 tha1
tha1's picture

Go back to your friends at seeking alpha...

Wed, 11/14/2012 - 10:42 | 2979599 wizard-2
wizard-2's picture

If the american empire folds - russia would fail. The only reason why Russia is not Zimbvabve now is exaggerated demand for oil encouraged by Fed's "print-print-print". Printing stops / dollar loses its reserve role - rouble crubles. Or it least it looks this way from Moscow.

Wed, 11/14/2012 - 11:18 | 2979719 kito
kito's picture

yeah, go check russias external debt.....check their social "entititlement" burden.....check their vast resources including timber, oil, gas, agriculture......etc..............

Wed, 11/14/2012 - 12:41 | 2980131 Matt
Matt's picture

So, let me get this straight, you are proposing that central banks printing money, causing oil and gas to be more expensive, is driving increased demand for oil and gas?

You seriously think that if oil and gas were less expensive, people would be using it less?

Wed, 11/14/2012 - 09:55 | 2979439 UGrev
UGrev's picture

It was made by Hammer industries:

Wed, 11/14/2012 - 10:27 | 2979545 kralizec
kralizec's picture

Yeb vas!

Wed, 11/14/2012 - 10:29 | 2979554 orangegeek
orangegeek's picture

Another communist country trying to use capitalism to back their shitty society.



Wed, 11/14/2012 - 10:59 | 2979654 Captain Benny
Captain Benny's picture

In Mother Russia, software glitches you!

Wed, 11/14/2012 - 11:30 | 2979761 Debugas
Debugas's picture

i have read one comment (an article) of one of the traders about russian stock exchange market in general

i can sum it up as follows - The Trend is Shitty (in the sense that many investors are stuck there forever)

Wed, 11/14/2012 - 11:31 | 2979777 Bawneee Fwank
Bawneee Fwank's picture

The glitch occurred on the news that Vlad sent an invite to that more of a commie fucktard Obama.

Wed, 11/14/2012 - 11:59 | 2979900 Svendblaaskaeg
Svendblaaskaeg's picture

Did anybody see a black cat? - again?

Wed, 11/14/2012 - 12:10 | 2979953 AgShaman
AgShaman's picture

Let the "fat fingers" commence

Wed, 11/14/2012 - 12:31 | 2980079 CEE
CEE's picture

So Tyler, tell us finally how comes that you can read cyrilcs?

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