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And The Market Breaks (Again)...

Tyler Durden's picture




 

With VIX having collapsed earlier (and its term structure inverted) ahead of this week's OPEX, as risk started to increase, BATS &NYSE just declared self-help against the CBOE...

  • *BATS ROUTING TO CHICAGO BOARD SUSPENDED
  • *NYSE AMEX OPTIONS HAS DECLARED SELF-HELP AGAINST CBOE

 

As soon as VIX started to rise... the market broke

 

"Broken Markets" - the new rigging.

 

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Tue, 07/14/2015 - 13:13 | 6311408 ZippyBananaPants
ZippyBananaPants's picture

we self-helped some folks

Tue, 07/14/2015 - 13:23 | 6311462 NoDebt
NoDebt's picture

We are SO closing dark green today!

Tue, 07/14/2015 - 13:32 | 6311499 FL_Conservative
FL_Conservative's picture

That's what happens when you "self-pleasure" while driving (e)minis.

Tue, 07/14/2015 - 13:38 | 6311529 This is it
This is it's picture

ZH might break soon too.

Help yourselves folks.

Tue, 07/14/2015 - 14:55 | 6311805 F0ster
F0ster's picture

'Glitches' are for 'bitches'

Tue, 07/14/2015 - 13:14 | 6311411 ted41776
ted41776's picture

the "market" hahahhahahaha hahahahaha you made a funny more "glitches"?

Tue, 07/14/2015 - 13:34 | 6311509 DetectiveStern
DetectiveStern's picture

Something big is going on with the internet. Me and a fair few of my mates mobile & home internet has gone to shit, my works previously stable web systems have been up and down like a yoyo recently and I don't even need to mention all the market breaks as well as what happened last week.

Tue, 07/14/2015 - 13:51 | 6311574 Vullsain
Vullsain's picture

Its the damn Ruskies and the antichrist Putin, Nuke the Commies!!!

Tue, 07/14/2015 - 13:14 | 6311413 gmak
gmak's picture

When BATS and NYSE declare self-help against CBOE does that mean the CBOE is broken, or that BATS and NYSE are broken?

Tue, 07/14/2015 - 13:16 | 6311425 KnuckleDragger-X
KnuckleDragger-X's picture

Yes...

Tue, 07/14/2015 - 13:22 | 6311453 NoDebt
NoDebt's picture

Means CBOE's broken, but I'll never get as many up-votes as Knuckle Dragger's response.

Tue, 07/14/2015 - 13:15 | 6311420 KnuckleDragger-X
KnuckleDragger-X's picture

Just a minor oopsie and things are just shiny, so move along, nothing to see here......

Tue, 07/14/2015 - 13:21 | 6311446 Blythes Master
Blythes Master's picture

It's my ball and I'm going home!

Tue, 07/14/2015 - 13:22 | 6311452 StackShinyStuff
StackShinyStuff's picture

Wash, rinse, repeat.  

Tue, 07/14/2015 - 13:26 | 6311472 Realname
Realname's picture

Yet, it still stinks.

Tue, 07/14/2015 - 13:24 | 6311466 RickM
RickM's picture

I still don't know what "self help" means for these exchanges!

Tue, 07/14/2015 - 13:28 | 6311485 illyia
illyia's picture

Me neither. To what are they helping themselves? And, does it mean that everyone has refused them help?

And, who are they and what did they break, exactly?

Could Tylers please stand up? This is a teachable moment.

Thx.

Tue, 07/14/2015 - 14:08 | 6311633 ZippyDooDah
ZippyDooDah's picture

Self Help. Exchanges can declare “self help” against each other to opt out of the national market system when a technical problem arises. This means that they will stop routing trades to and from another market if they have reason to believe the quotes or prices are stale. It is meant to protect investors from having trades executed at bad prices.

 

from Wall Street Journal

Tue, 07/14/2015 - 14:27 | 6311715 illyia
illyia's picture

Thank you Zippy. Not nearly as insane as I had imagined. Guess I am getting jaded, eh?

Everything has to be insane. But this sounds quite reasonable,

Tue, 07/14/2015 - 13:30 | 6311491 Conax
Conax's picture

That's what they call it when they 'accidentally' trip over the cord and pull the plug.

Tue, 07/14/2015 - 14:38 | 6311740 stant
stant's picture

Fat toe

Tue, 07/14/2015 - 13:31 | 6311497 Miss Expectations
Miss Expectations's picture

The old rigging...William could probably do something here:

http://www.powermobydick.com/images/RoyceSails600.png

Tue, 07/14/2015 - 13:44 | 6311552 seek
seek's picture

"break"

Right. It's not breaking when someone pulls the plug when thngs go in the wrong direction.

Tue, 07/14/2015 - 13:45 | 6311557 Stormtrooper
Stormtrooper's picture

Self help means that all of the brokers and algos stop for a circle jerk when the stress level rises.

Tue, 07/14/2015 - 13:46 | 6311562 herman55
herman55's picture

.........just answer the g**damn question........what does it mean when "self-help" is declared ? what is that ?   is your wife gone or something ?  what or who triggers this thing  ????

Tue, 07/14/2015 - 13:56 | 6311592 Baa baa
Baa baa's picture

Plenty of Mr. Rogers

Tue, 07/14/2015 - 13:48 | 6311564 Government need...
Government needs you to pay taxes's picture

Funny, it seems to break every time the central bank stops buying. . .  Hmmm.

Tue, 07/14/2015 - 13:55 | 6311589 ivana
ivana's picture

gold smackdown coming in 3 -2- 1----

Tue, 07/14/2015 - 14:32 | 6311722 jubber
jubber's picture

Yellens overvalued IBB new ATH LOL

Tue, 07/14/2015 - 15:02 | 6311826 Pumpkin
Pumpkin's picture

I wish I had a self help button.  I'd be a billionaire.

Tue, 07/14/2015 - 15:51 | 6312093 DeProgrammed
DeProgrammed's picture

Massive attacks visible on norse map today.  http://map.norsecorp.com/

 

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