Crude Complex Market Halted - Update: Market To Reopen At 3:15pm With 15 Minute Preopen

Tyler Durden's picture


Update 3: Market reopens - "perfectly normal market"

Update 2: "CME Globex Crude Complex Futures and Options markets will open at 14:15 Central Time with a 15 minute pre-open"

Update from CME: "The following actions will be taken on CME Globex Crude Complex Futures and Options markets prior to the market opening: All day and session orders, including GTDs with today's date will be cancelled. All GTCs that have been acknowledged will remain working."

Something odd is going on in crude quotes which halted at 2:04pm, following what may have been an algo gone berserk in advance of what may or may not have been a block order. The feed has since stopped transmitting. The initial read is "technical difficulties" out of the CME Globex crude exchange. Someone take quote stuffing a little too far today?

And this is what happened in USO just before the crash. Note the surge in volume:

And on the CME's website:

And upated CL March volume chart:

Update: $101

Translation: all your electronic barrels are belong to SkyNet.

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Mon, 02/13/2012 - 15:21 | 2154585 lolmao500
lolmao500's picture

Time to bomb Iran then!

Mon, 02/13/2012 - 15:25 | 2154609 dhussey
dhussey's picture

... scary thing is... you may be right

Mon, 02/13/2012 - 15:29 | 2154631 ShankyS
ShankyS's picture

Looks like the heartbeat of a healthy rhythmic market to me? What's the problem? <sarc>

Mon, 02/13/2012 - 15:36 | 2154686 Manthong
Mon, 02/13/2012 - 16:06 | 2154762 NewThor
NewThor's picture

I try not to pay attention. And! not Comment on ZEROHEDGE.

cuz when i do....

all my computers get Hacked.

and i lose a lot of screenwriting and video editing work.

and that sucks.

Mon, 02/13/2012 - 16:09 | 2154829 NewThor
NewThor's picture

Seriously. I've had my Macs and PC's hacked and zero data'd several times.

I've had all my email accounts hacked in seconds, including twitter, facebook and yahoo.

Why am I the fucking bad guy in this scenario?

I've been on the Anti-Bernanke bandwagon since 2007.

I wish we had a real Fight Club here at Zerohedge.

"You'll never knock me down, Ray."


Mon, 02/13/2012 - 16:14 | 2154861 NewThor
NewThor's picture

Funny story.

Last time I was at the APPLE store to get my Mac fixed cuz of hacker dudes....

the Apple guy gave me the line that "Macs can't be hacked."

I pulled up the front page of Zerohedge that showed Anonymous had hacked the Interpol and CIA 'anti-hacker' phonecall and posted it online.

I asked the guy, "So if Anonymous wanted to hack a Mac, he couldn't do it?"

Apple guy "He probably could, but he wouldn't hack you."

Me. "So Macs can't be hacked?"
Apple guy "That's right. Macs can't be hacked."

Mon, 02/13/2012 - 17:22 | 2155166 JohnG
JohnG's picture

That's bullshit I can hack a Mac in less than 10 minutes.  It's so easy it's a joke.  You can be root in 5 minutes.  5 minutes later, you're done.

Mon, 02/13/2012 - 17:42 | 2155263 NewThor
NewThor's picture

My question is "Could you track my hacker?"

If I could find out who it is, I could send Batman or Wolverine pay them a visit.

They're owned my ROOT for awhile, and no root kit in the world gets them out or keeps them out.

Mon, 02/13/2012 - 20:49 | 2155951 sgt_doom
sgt_doom's picture

"..I could send Batman or Wolverine pay them a visit."

Dude, Bruce Wayne is a bankster, and that Wayne Foundation of his is where he hides his wealth and further ownerhip of even more stocks, bonds and companies.

Focus, big guy, focus!

Mon, 02/13/2012 - 23:39 | 2156351 foofoojin
foofoojin's picture

You didn't read the fine print.

 A Mac can't me hacked, unless connected to the Internet. :)

Mon, 02/13/2012 - 16:20 | 2154899 smiler03
smiler03's picture

People who've had their computers hacked = terrorist.

Mon, 02/13/2012 - 16:25 | 2154923 NewThor
NewThor's picture

Under NDAA, anyone who speaks out against the status quo of government and economics could be considered a TERRORIST.

Don't like Bernanke, Geithner or Obama's way things are run?

Time for the new game show "Black Bag Zip Tie Fun!" with your host, Big Nugget.

Mon, 02/13/2012 - 17:22 | 2155163 ilion
ilion's picture

What are you guys so surprised of? This is a perfectly efficient market, at least Bernanke thinks so.

Mon, 02/13/2012 - 17:49 | 2155303 Cathartes Aura
Cathartes Aura's picture


I've had all my email accounts hacked in seconds, including twitter, facebook and yahoo.

you have accounts with these entities, but you think ZH is responsible for you being hacked?


Mon, 02/13/2012 - 16:11 | 2154846 tekhneek
tekhneek's picture

I try not to pay attention. And! not Comment on ZEROHEDGE.

cuz when i do....

all my computers get Hacked.

and i lose a lot of screenwriting and video editing work.

and that sucks.

This sounds a lot like problems anyone who uses any version of Windows experiences. Throw your P(iece of)C(rap) out the window and go get a Mac or use Linux.

Mon, 02/13/2012 - 16:18 | 2154889 NewThor
NewThor's picture

The hacking started on my Macbook Pro.

I'm a Final Cut Pro addict, don't like Avid or Premiere.

There have been security issues on the Mac with Icalender, Itunes, Isynch...etc.

I'd like to buy a NEW macbook pro, but if they can continually synch my global prefs, then what's the fuggin' use?


Mon, 02/13/2012 - 16:27 | 2154933 Kassandra
Kassandra's picture

Get Bitdefender.

Mon, 02/13/2012 - 17:17 | 2155140 SAT 800
SAT 800's picture

No, you would not like to get a NEW macbook pro; what you would like to do is download Linux Mint operating system onto to your PC notebook; and erase everything on there made by MicroSoft. Then the world becomes peaceful and productive.

Mon, 02/13/2012 - 16:38 | 2154975 trav7777
trav7777's picture

Macs suck shit.

The only reason people don't hack them is because nobody uses them

Mon, 02/13/2012 - 16:44 | 2154995 CvlDobd
CvlDobd's picture

I hear the iTerminal is coming and Bloomberg is fucked!


Mon, 02/13/2012 - 17:17 | 2155142 SAT 800
SAT 800's picture

That's about it alright.

Mon, 02/13/2012 - 18:27 | 2155432 Vagabond
Vagabond's picture

Yeah... nobody except 70% of the sheep entering college.  And many more of the bourgeoisie that keep up with the Jones'.

Mon, 02/13/2012 - 16:51 | 2155027 Atomizer
Atomizer's picture

You might want to uninstall the europe firewall from your computer system.

Mon, 02/13/2012 - 16:58 | 2155058 Gazooks
Gazooks's picture

You're a very bad man.

Mon, 02/13/2012 - 15:43 | 2154721 AgShaman
AgShaman's picture

I saw a Cat.....and then I saw another cat that looked just like it?

Must be a glitch or somethin'

Mon, 02/13/2012 - 15:59 | 2154754 knukles
knukles's picture

Wasn't that Heisinberg's Lost Pet "Sorry Officer, but I'm uncertain where my fucking cat is." principle or Schrodinger's "It's sure as hell's not alive anymore, dude." roadkill hypothesis? 
Or maybe an upcoming mysterious budget that'll never get passed.

Reminder to readers of an official nature (as in official readers); It's not the fucking financials, it's the politicians dicking around that are getting us (as in US, too) downgraded.

Well of course stocks should be going up, Knukles.  What do you expect?  Reality?

Mon, 02/13/2012 - 17:06 | 2155097 DeadFred
DeadFred's picture

You may be a science geek if the SPCA is after you because you tried the Schrodinger's cat experiment.

Mon, 02/13/2012 - 15:54 | 2154769 aerojet
aerojet's picture

A glitch in the Matrix, sure.

Mon, 02/13/2012 - 16:11 | 2154848 boattrash
boattrash's picture

'Twas just that "Fat Fingered" bastard again. Nothin to see here.

Mon, 02/13/2012 - 16:08 | 2154822 Gringo Viejo
Gringo Viejo's picture

I've always enjoyed the term "Technical Issues". Covers a lot of ground without saying shit.

Mon, 02/13/2012 - 15:29 | 2154639 AL_SWEARENGEN

Yeah seriously,, Iran hasn't closed the strait of hormuz so the CME Cocksuckers are doing their part to further the cause of fraud and war. 

Mon, 02/13/2012 - 15:33 | 2154660 eatthebanksters
eatthebanksters's picture

methinks the CME got advance word on something and closed it down as a precautionary move...we'll know soon enough whether its for real or just another bluff...

Mon, 02/13/2012 - 16:02 | 2154791 knukles
knukles's picture

in your best John Wayne voice:

Maybe they're really bluffing

Mon, 02/13/2012 - 16:26 | 2154924 The Shootist
The Shootist's picture

but, Pilgrim, you caused a lot of trouble this morning; might have got somebody killed; and somebody oughta belt you in the mouth. But I won't. I won't. The hell I won't!"

Mon, 02/13/2012 - 15:34 | 2154675 Ruffcut
Ruffcut's picture

I was going to say I saw it live or dead for 20 minutes. Options stayed constant so nothing was fishy there.

SOme fat ass tripped and pulled out a plug, somewhere. Glad I did not have a trade on and watch it lock and what if you are on the wrong side? FUCK!!! this shit makes a traders heart fall right thru thier ass.

Mon, 02/13/2012 - 15:51 | 2154755 Doña K
Doña K's picture

Why do people still trade after MF Global? You get better odds in Vegas

Mon, 02/13/2012 - 18:12 | 2155391 Cathartes Aura
Cathartes Aura's picture

why do ppl still vote after Dubya & O'bamalama?

old habits die hard.

Mon, 02/13/2012 - 15:45 | 2154732 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Stuxnet was served across the court and thwap!

A return volley by ... Ayatollahnet !

Mon, 02/13/2012 - 15:46 | 2154733 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

dupe ...

Mon, 02/13/2012 - 17:27 | 2155181 Cadavre
Cadavre's picture

Time to bomb, indeed!

I'm sure the USO chart is not, in fact a record of the USO tick, but and instead, an aurel histograram reorded from the last 8 bars of Iron Maiden's Montsegur, being played backwards!

Mon, 02/13/2012 - 18:06 | 2155365 combatsnoopy
combatsnoopy's picture

I wonder if the oil companies are hedging to keep their costs lower?  I hope they are.  

Mon, 02/13/2012 - 15:21 | 2154586 Fidel Sarcastro
Fidel Sarcastro's picture

Business as usual....carry on.

Mon, 02/13/2012 - 15:22 | 2154587 GeneMarchbanks
GeneMarchbanks's picture

Good place to get stuck. Price fluctuations will resume post liberation.

Mon, 02/13/2012 - 15:22 | 2154592 Sylvia Plath
Sylvia Plath's picture

Not quote stuffing... it's a algo trying to break the book open before close.


The algo is playing both sides, and orders being filled.... 


We shale see!

Mon, 02/13/2012 - 15:26 | 2154613 dhussey
dhussey's picture

thats not exactly out of the ordinary... thats HFT 101... buy bid, sell the ask... a trillion times over... and thats it

Mon, 02/13/2012 - 15:26 | 2154614 GeneMarchbanks
GeneMarchbanks's picture

Any-non-moose. Expect them.

Mon, 02/13/2012 - 18:19 | 2155419 Cadavre
Cadavre's picture

The algo is playing both sides, and orders being filled....

Wondering if there's a "tell" or "tell of the tail" when algo's are trapped on both sides of the trade, both the party and the counter party, In equities there appear to be an event where the vix and the 21 HV print correspond within a penny for a few days - or weeks. A few months and repeats later the sell off. It's like HFT's book is VAr neutral and asset prices trade as though "they" underly the derivative contracts like both buyer and seller and 100% self insured - where's the money in that? Perhaps some kind of provincial banker oneupmanship frat game?

When there is no price action in the asset, our very famous, lonely and remembering daze gone by when they chummed to hook retail traders, yet still, very sociable  HFT algos' will always find a party someplace else - even if the asset has no alternative except as an upmarket float carried by it's very own options!

How noble! How noble, indeed!

We're not going to war with Iran - Israel would be a smudge in minutes - we get cut off from global markets - the commons is ready to gut the suits -  Black Water Mercs and VIP body gards don't like being paid with toilet paper no more than the 300 Million ants maintaining the hive's infrastructure do.

The fog and posturing is ruse, an opiate, to calm and relieve the herd when another glorious coalition of genocide only invades Egypt. They want Egypt. They want Africa.


Shit - they already got us!

Mon, 02/13/2012 - 15:23 | 2154593 lizzy36
lizzy36's picture

Everyone being told technical issues at Nymex. 


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