Did The CBOT Get "Overloaded" As Jobs Data Halted Treasury Futures?

Tyler Durden's picture


Treasury Futures markets on the CBOT were halted this morning for about 10 seconds following the release of the April payrolls data. While somewhat stunning all by itself, given that the move was not massive, Nanex notes that what is unsual about this event is that quotes also stopped updating - indicating a possible system issue at the exchange.

Of course, in these "unrigged" markets, what more would we expect?


Via Nanex,

On May 2, 2014 at 8:30:05, right after release of the Non-farm Payroll number, quotes and trades in Treasury futures from CBOT halted for about 10 seconds. Sequence numbers before and after the event indicate no data was dropped. What is unsual about this event is that quotes also stopped updating - indicating a possible system issue at the exchange.

1. June 2014 5 Year T-Note Futures (ZF) Trades and quote spread. 
You can clearly see the gap.

2. June 2014 5 Year T-Note Futures (ZF) Quote spread and Quotes per second.
It is unusual to see a gap in quotes - this indicates a different issue - not a normal trading halt.

3. June 2014 DJIA eMini (YM) futures trades and quote spread.
Also traded at "CBOT" - but doesn't have the gap.

4. June 2014 most active treasuries: Ultra T-Bonds (UB), T-Bonds (ZB), 10 Yr T-Notes (ZN), 5 Yr T-Notes (ZF), and 2 Yr T-Notes (ZT). Note the gap at 8:30:05.

5. Zoom of chart 4 above.

6. Most active Futures contracts.

7. Zoom of chart 6 above.

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Fri, 05/02/2014 - 15:28 | 4721453 LawsofPhysics
LawsofPhysics's picture

And the 3:30 ramp was just about to start...



I guess we are "ramping" the treasuries today...



Fri, 05/02/2014 - 15:52 | 4721524 fonestar
fonestar's picture
















































Bitcoin: A whole new world
A new fantastic point of view
No one to tell us no or where to go
Or say we're only dreaming

Fri, 05/02/2014 - 16:01 | 4721593 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Holy Crap foney, did you get the day off?  Please go back to work.

Fri, 05/02/2014 - 16:02 | 4721598 fonestar
fonestar's picture

My boss is a Japanese cryptographer!

Fri, 05/02/2014 - 16:07 | 4721622 debtor of last ...
debtor of last resort's picture

Kill him and go back to work.

Fri, 05/02/2014 - 16:53 | 4721795 wallstreetapost...
wallstreetaposteriori's picture

Foneystar is such a douche.

Fri, 05/02/2014 - 16:17 | 4721666 MillionDollarBoner_
MillionDollarBoner_'s picture

Crack this code Foney:

Hp Gvdl Zpvstfmg!


Fri, 05/02/2014 - 16:55 | 4721799 wallstreetapost...
wallstreetaposteriori's picture


Fri, 05/02/2014 - 16:57 | 4721807 MillionDollarBoner_
MillionDollarBoner_'s picture

Uibolt O)

Fri, 05/02/2014 - 17:11 | 4721857 fonestar
fonestar's picture

fonestar will take that caeser and shove it so far up your ass you will beg Satoshi for mercy!

Fri, 05/02/2014 - 17:19 | 4721890 MillionDollarBoner_
MillionDollarBoner_'s picture

Dude...that ain't no Caeser...its a gorgeous art nouveau representation of the Madeleine.

Not that you appreciate women, no matter their beauty, methinks...;O) 

Fri, 05/02/2014 - 16:36 | 4721735 JuliaS
JuliaS's picture

Foney's proudly showing off his entire bitcoin collection.

Fri, 05/02/2014 - 16:39 | 4721749 fonestar
fonestar's picture

fonestar's entire Bitcoin collection is worth even more than his 21 year old jeep with a smashed window.

Fri, 05/02/2014 - 16:06 | 4721614 SAT 800
SAT 800's picture

Reporting; sold X3 ZB today @136.-07; new shorts. closed out the four ES@1875.25 @1874.25 for +200; decided I don't like the trade.

Fri, 05/02/2014 - 15:29 | 4721459 PlusTic
PlusTic's picture

10yr froze as well...i thought it was my machine, but obviosuly it was market-wide...

Fri, 05/02/2014 - 15:50 | 4721553 nuclearsquid
nuclearsquid's picture

Do these charts mean the CBOT is becoming self aware and coming out of the closet?

Fri, 05/02/2014 - 15:29 | 4721464 TeamDepends
TeamDepends's picture

Yay though I walk through the valley of the shadow of death I shall fear no evil, for thou art with me.

Fri, 05/02/2014 - 15:33 | 4721483 Xibalba
Xibalba's picture

thy printer comforts me

Fri, 05/02/2014 - 15:42 | 4721530 fonestar
fonestar's picture

Satoshi is my staff, he c0nfronts me.

Fri, 05/02/2014 - 16:07 | 4721626 SAT 800
SAT 800's picture

So how does that feel to be cOnfronted: I always wondered. Or is that part of your dream world you live in?

Fri, 05/02/2014 - 16:12 | 4721651 fonestar
fonestar's picture

.....a whole new world.  Cryptographic feelings....

Fri, 05/02/2014 - 15:32 | 4721480 Xibalba
Xibalba's picture

time to halt GC furures on the way up

Fri, 05/02/2014 - 15:33 | 4721486 fonzannoon
fonzannoon's picture

i wonder when the absolute fuck the market is going to realize the federal reserve just slammed the door shut behind them and peeled out giving everyone the finger as they zoomed away.

Fri, 05/02/2014 - 15:35 | 4721499 Goldilocks
Goldilocks's picture

Atomic Gap Band 4
http://www.youtube.com/watch?v=rKte7TguBqo (4:10)

The Gap Band - You Dropped A Bomb On Me
http://www.youtube.com/watch?v=17lkdqoLt44 (4:05)

Fri, 05/02/2014 - 15:37 | 4721509 Bill of Rights
Bill of Rights's picture

How bout that DXY action.....



Fri, 05/02/2014 - 15:54 | 4721570 maskone909
maskone909's picture

still waiting for that break below 79.  should be quite the waterfall event

Fri, 05/02/2014 - 16:14 | 4721657 HedgeAccordingly
HedgeAccordingly's picture

Nikka please. you know this was a QUOTE oveload.. these peeps @ the CME admitted algo's f'ed up their systems earlier this week. http://hedge.ly/1m2zMWU

Fri, 05/02/2014 - 17:42 | 4721978 mogul rider
mogul rider's picture

Tell us PINN

Can you prove you are self aware?



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