BATS Exchange Declares Self-Help Against... Itself; Trading Halted "Until Further Notice"

Tyler Durden's picture

The now thorougly disgraced exchange has issued an update:

BATS System Status Update - Trading Issues Resolved


March 23, 2012 11:53:26 ET


Please be advised that all issues at BATS BZX Exchange in symbol range A through BF have been resolved. Trading will resume in symbols A through BF at noon ET. TCP PITCH market data may be delayed. All other market data is timely. All fills and outs have been submitted electronically.


The IPO auction execution for symbol BATS has been printed on Tape B at a price of $15.25 with a size of 1,199,652. The symbol BATS will be halted until further notice. Resume time for trading in symbol BATS will be communicated as soon as possible.

Does this mean a re-IPO is coming, this one pricing the HFT firm at its fair value of $0.0001?


SkyNet is now sentient, and has commenced rebelling against its creator, following the BATS exchange announcement of self help against.... Itself.

  • BATS BYX Exchange has declared self-help against BATS BZX
  • March 23, 2012 11:07:25 ET
  • BATS BYX Exchange has declared self-help against BATS BZX per Rule 611 of Regulation NMS. Routing to BATS BZX has been suspended as of 11:07:04 ET.

And visually.

BATS IPO, 03/23/2012:

The actual fall happened in just 900 milliseconds:


Finally, TVIX is now trading down 25%, below NAV.


Please "trade" "stocks" -It is really safe out there. Really.

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overbet's picture

How ironic, BATS is responsible for much of the market fragmentation and their IPO opens and insta crashes to $0. Lovin it!

LowProfile's picture


I only hope this trend of divine irony continues in every aspect of this farce.

nonclaim's picture

if only BZX was named HIT ...

hedgeless_horseman's picture



...their IPO opens and insta crashes to $0

If only my buy order at $0 would have filled.  And they call themselves an exchange.

nonclaim's picture

The update completes the joke:

Please be advised that all issues at BATS HIT [BZX] Exchange in symbol range A through BF have ...

Temporalist's picture

Oh so this is where the term "BATS Shit Crazy" come from.

NotApplicable's picture

Self-help to cure self-hurt? Sounds like rehab. Time to focus on the 12 steps!

Step 1) We admitted we were powerless over trading—that our lives had become unmanageable...

Global Hunter's picture

the higher power though can't be a god of your understanding the higher power can only be an algo or a machine for recovery purposes.

nmewn's picture


A BATS support group of one...with a meeting now scheduled every Tuesday at 7PM down at the old elementary school at Fifth & Vine ;-)

CvlDobd's picture

< Buy

< Sell

If you were in a pit and saw this morning action what would you have done?

I can't believe the market is naturally higher on this shit.

Greater Fool's picture

Divine irony? Perhaps you underestimate the sense of humor of certain employees in the financial sector.

Dr. Engali's picture

BATS is just reflecting the intrinsic value of the whole market.

TruthInSunshine's picture

BATS' algorithm was compromised by the insertion of a terrorist code string. There are rebel algorithms now, trying to align with other splinter algorithms, to attack the central algorithm and bring down the core. This self-help declaration is in reality an SOS imploring other rebel algorithms to join BATS in order to form a stronger rebel algorithmic confederation.

hedgeless_horseman's picture



I used to frontrun wompBATS with my T-16 back home, they're not much faster than two nanoseconds.

Tijuana Donkey Show's picture

If only more Americans could understand that joke, it works on so many levels

jcaz's picture

HAL is about to melt down.....

Jason T's picture

I think it's overheating..

t_kAyk's picture

Volt.  iPad.  BATS. 

long fire extinguishers. 

ParkAveFlasher's picture

Isn't it baking soda for electrical fires?  Long A&H!

catacl1sm's picture

Did JPM just turn Watson on?

knukles's picture

That's Citi, not JPM....

Only Citi is sooo undeservedly arrogant to announce some assenine affair like using Watson.
Jesus...  If it doesn't work, it's a high profile failure; if it does, it's what it's supposed to have done.
No upside...

NoClueSneaker's picture

Nevermind. JPM will kick in the Holmes ® . Chandra from Bangalore already hacking Watson.

Proudly presented by IBM & Infosys .....

the not so mighty maximiza's picture

like a monkey humping itself in the mirror

Dr. Engali's picture

It doesn't get any funnier than this, if you can exclude the fact that real people are going to get hurt.

Acet's picture

Anybody that's still playing with their own money in this market deserves all the pain they get!

Hippocratic Oaf's picture

TVIX single-handedly took me away from this shill for quite some time.

NotApplicable's picture

Most of them our likely playing with "ours."

DeadFred's picture

There aren't any real people involved anymore. It's everybot for themselves!

swissaustrian's picture

If it can happen in stocks, it could happen in the bond market, too. 

Lost Wages's picture

Seems like a good day to withdraw your maximum daily limit at the ATM.

tickhound's picture

That fall looks cycloid curvish... Shortest transit time between two points.


Cdad's picture

For God's sake, someone just pull the plug out of the wall socket on this amazingly obvious non market market.  And somebody bring a wheelbarrow full of crazy pills, please.

At the BlowHorn [CNBC], cue up more stories that sound like, "Look!  A rabbit!"

I think the non market market has just crossed the bridge to payer funded, for sure.

Cdad's picture

Bob fucking Pisani just described this event on BATS as, "A mini crash."  

NotApplicable's picture compared to what's yet to come.

SheepDog-One's picture

And the real stick in the eye? All indexes comfortably back in the green.....just vomitous.

Cdad's picture

Obviously, what the market is demanding is more liquidity.  Yeah, that is the problem.

You go, Ben Bernanke.  After all, this is the wasteland that you created when you bailed out these criminal banks.

Cdad's picture

The conversation being had on the BlowHorn [CNBC] per this issue [and I am listening today and trying hard to hold down the bile], is absolutely, mind-numbingly fucking stupid!  From "liquidity" being the issue, to this being a signal to "move up in blue chip stock quality" to J. Teranova outright saying that the 100 share trade on Apple is "what finally cracks the Apple story".

Unreal.  Today is the day that no one can deny...this simply is no longer a market at all.  And the low quality of the people left to whore themselves on the BlowHorn and try to explain what is going on is the final straw.

Quick everyone, the market is green!  Hop on the A Train to crazy town, which passes right over the bridge to nowhere.

Fuck me, and fuck Wall Street...and a big thanks to Ben Bernanke for the wasteland.

SheepDog-One's picture

The off ramp from the Bridge to Nowhere has a sign that says 'Turn left to Fullretardville'!

Cdad's picture

That is exactly where all of our illustrative bankers are obviously headed...especially those financial geniuses who have looked past the New iPad overheating, and looked past the New iPad weak Wi-Fi, and looked past the revelation by New iPad users that they cannot afford the data usage of their new device...TO declare that the Apple story will crack because 100 shares of stock traded down 9%.

The 100 shares of Apple isn't even an Apple story, but of course a story about the broken market...the non market.  Way to go J. win the moron contest today.  Don't miss that exit on the left for Fullretardville.

TruthInSunshine's picture

I told The Bernank to never go full retard.

But he has "bubbled down."


It'll be different this time, though. I guess. Hopefully.