Did Someone Forget To Push Europe's Algo Clocks Forward?
Still think this market is driven by humans? Behold European stock markets this morning as they collapsed into the pre-Daylight-Savings-Time European close and reversed to the second... and then a few minutes later as reality struck, as Nanex points out, HFTs went wild in FTSE and CAC Futures...
The idiocy of algos...
On March 12, 2013 at 11:49:50, an algo appears to have gone out of control, causing wild oscillations in FTSE and CAC futures.
1. March 2013 FTSE Futures, 1-second interval chart showing trades.
2. March 2013 FTSE Futures - zooming in to about 1/2 minute of data.
3. March 2013 FTSE Futures - zooming in to 5 seconds of time.
4. March 2013 CAC Futures - showing about 1/2 minute of data. Same time period as Chart 2
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