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European Derivative Market Breaks
Usually when markets break, we learn about it only after the fact. This time, however, we get a heads up in advance that Europe's critical derivatives market - especially critical today with massive bond derivatives volumes coming through as a result of this morning's latest rout which has managers scrambling to reposition - is about to break, courtesy of the Euronext Derivatives Market.
To wit from Euronext:
Members are advised that due to technical issues with CCG configurations, members might experience a disconnection as from 13:10 CET during a shorty period of time.
This operation will be conducted over a short period of time, and customers should be automatically reconnected at the end of the process.
And by short period, it is likely that they mean the usual: until the selling stops.
Needless to say, expect this morning Bund rout to halt and/or reverse as a result of this market "intervention"
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Update: the "shorty" period of time is over, and the selling has ended. Time to go back online:
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In Soviet Europe, market stops out you!
Oh.. This is the part where the derivatives market breaks in half!
Close enough to the Titanic thing I said earlier..
THE HOUSE OF CARDS IS TUMBLING BITCHEZ
Declare default, double dog dare you.
time to take a loan and never repay it lol
It's all Bullshit!!!
Your member might be experiencing a disconnection.
Weak Dong.
Long Viagra.
Thank God. We're "saved".
Here comes the bounce.
Yeah but it's a howitzer round on a flat trajectory that's about to hit...
"during a shorty period of time". So short selling caused the outage?
6 May 2015, by Lorcan Roche Kelly (Bloomberg)
http://www.bloomberg.com/news/articles/2015-05-06/there-have-been-some-big-mysterious-moves-in-markets-lately
So, would this be the time to BTFD?
Cause this bitch is going to the moon!
To the Moon bitches! and back.
Jade Helm 15 Brought to you from the spouses of Chriss Dodd and Ted Cruze and while we are at it the GE liquidations of comercial paper..... Janet they don't balance out...
It will be fine as long as no tax payer backed big bank is not leveraged 50 to 1 on a front running bet that the ECB will force rates down... No wait... Wasn't that just a huge one-sided trade just... Like a week ago?
Don't panic... Just another kid in their parents basement... Move along...
Silver down and the bond selling has stopped. Time to reactivate broken system.
For a shorty period of time? Ok, get shorty, but of what?
And isn't shorty selling banned at present in EU?
Don't worry. Coming soon to a market near you.
and so it begins; the greater bandaid theory to preserve the status quo has proven to be illusory.
38 minute shut down. Not surprising at all that any and all available "tools" are being used to keep the can in contact with the shoe...and pulling the plug has been shown to be quite effective. I wonder who it is that can make such a call, or is it just programed to shut down when the shit gets out of hand.
Socialist Circuit Breakers, programmed by Geithner et al.
This is not a drill.
This is a nailgun.
possibly just a technical outage. there's a lot of moving parts that go into keeping your interwebz / atm machines / trading platform / tv streaming service running.
For those who find parallels between literature and the turgid financial world, consider this title to summarize the current times :
The chronicle of a Death Foretold...as kept by ZH since HFT was invented in WS dystopia !
An entire society not just a few have participated in this murder of freedom and democracy.
Shades of Gabriel Garcia Marquez!
The pot of gold is the lowest point at the end of a rainbow.
European derivative 'market', one stop shopping for debt so old that Henry the 8th has a tally marker for Cromwell's house in there somewhere. Because that's what they are trading, unserviced or servicable debt. It so stupid.
The failure is that of not treating the dirivatives market properly and implementing regulation. Dirivatives are a non holding that is aggecting a holding thus liable to legal conjunction and can be defined as the same as a commonities play by Dodd Frank 2008. If so defined it is for many pure gambling and they can be cheated as they have no legal claim (actual holding are required and only to the 'tune' of those actual). So what wh ahve her is a pure adulterating gamble, but even leaving of that nasty adjetive, a gamble that by casino regulations would require imidiate taxation an payment.
Now that would cool the field.