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Spain's Stock Exchange Has Been Halted For Over 4 Hours Due To "Technical Glitch"

Tyler Durden's picture




 

Update: IBEX resumes for trade with a nearly 5 hour delay, last seen higher at 1.68%. We can only hope the Knight algo is not to blame for yet another round of headless chicken buying.

Last week it was Knight, today it is the Spanish stock market. Following a halt for a "technical glitch" just after 4 am Eastern time, Spain's stock exchange, the IBEX, is still not trading as of this posting. So how will Spain and the ECB declare victory if they are unable to demonstrate the daily ramp in Spanish stocks (where shorting financials is once again forbidden.... because Europe continues to be "fixed").

From MarketWatch:

The Spanish stock exchange was halted Monday morning due to a technical glitch, according to a spokesman for operator Bolsas y Mercados Espanoles SA . The spokesman did not give a time for the resumption of trade nor specify the nature of the glitch. The market has been halted since 10 a.m. Central European Time. The Spanish IBEX 35 index was trading up 0.25% just ahead of the halt

 

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Mon, 08/06/2012 - 08:51 | 2681284 GetZeeGold
GetZeeGold's picture

 

 

OK....nobody move.

 

Oh......the solar panels just gave out again. As soon as the clouds go away we'll be back up.

 

Mon, 08/06/2012 - 09:00 | 2681297 Haager
Haager's picture

I love that one ->clouds<-...

So, IBEX will stay closed over the - lets say -  5 following years?

Mon, 08/06/2012 - 09:20 | 2681367 Comay Mierda
Comay Mierda's picture

.... and it's gone!

 

REMIX!

http://www.youtube.com/watch?v=4TlPo0yCSa4

Mon, 08/06/2012 - 09:21 | 2681374 BandGap
BandGap's picture

Most excellent, my friend.

This is really all very hilarious, actually. Like your alcoholic "Uncle Bob" who misses work frequently becuase he has "medical issues".

Mon, 08/06/2012 - 08:48 | 2681285 monkeyboy
monkeyboy's picture

The house always wins!

Mon, 08/06/2012 - 08:49 | 2681286 magpie
magpie's picture

Warum Sie ihre Stocken verkaufen ? Nein, nein, nein !

Mon, 08/06/2012 - 08:50 | 2681289 Haager
Haager's picture

Stocks-> Anteile, Aktien

Sticks-> Stöcke, Stäbe.

Mon, 08/06/2012 - 08:53 | 2681304 magpie
magpie's picture

Niemand glauben Draghi Heil machen Banken leer ?

Mon, 08/06/2012 - 09:16 | 2681358 agent default
agent default's picture

You really need to work on your German.

Mon, 08/06/2012 - 09:22 | 2681363 magpie
magpie's picture

It's supposed to be fake, a parody of an Italian soccer coach btw...'Was erlauben Merkel etc'

And it's hardly suprising that the feed was corrupted after the initial spike failed, and it headed back down.

Mon, 08/06/2012 - 09:46 | 2681436 MillionDollarBoner_
MillionDollarBoner_'s picture

"Alles sein Geld ist belongen zu uns"

There, fixed it for ya ;o)

Mon, 08/06/2012 - 08:49 | 2681287 Haager
Haager's picture

Indices on forexpro kept moving, wtf? Deceiving-tactics?

Mon, 08/06/2012 - 08:58 | 2681313 Satan
Satan's picture

Lol...

" The price is whatever we tell you the price is...Muppet "!

Mon, 08/06/2012 - 09:06 | 2681331 scatterbrains
scatterbrains's picture

Remember the stories about the old horse betting parlors and the time delayed radio play by play ?  but.. but I just got the super duper really fast processor upgrade on my computer!  wtf!??

Mon, 08/06/2012 - 09:42 | 2681372 dvsteenk
dvsteenk's picture

i noticed at the end of last week that indices and futures on ForexPro were suddenly delayed by over 2 minutes, while normally they are refreshed at 10-15 second intervals

Mon, 08/06/2012 - 08:50 | 2681288 malikai
malikai's picture

It's the exchange. They will bust every trade. There will be no bankruptcy here, except for the host country.

Mon, 08/06/2012 - 08:52 | 2681292 buzzsaw99
buzzsaw99's picture

you hear that mr. anderson? that is the sound of inevitability. [/agent smith]

Mon, 08/06/2012 - 09:03 | 2681318 Rainman
Rainman's picture

kudos !.....it sucks I can only green you once.

Mon, 08/06/2012 - 08:51 | 2681294 LeisureSmith
LeisureSmith's picture

Did it just start trading again? I'm seeing up 1,7pct

Mon, 08/06/2012 - 08:51 | 2681295 resurger
resurger's picture

I CANT BELIEVE THIS!!!

Mon, 08/06/2012 - 08:52 | 2681302 DutchDude
DutchDude's picture

Nothing to see here, carry on...

B*tch please; who's still buying this algo-rigged casino game anyways?

Mon, 08/06/2012 - 10:07 | 2681512 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

there will be many more of these technical glithes. they are conditioning the masses.. cry wolf enough and a geniune crisis will be ignored till it only benefits those who control the game

Mon, 08/06/2012 - 08:52 | 2681303 101 years and c...
101 years and counting's picture

So, the lack of shorts to squeeze now qualifies as a technical glitch?  Pathetic.

Mon, 08/06/2012 - 08:54 | 2681305 Dr. Engali
Dr. Engali's picture

Technical glitch translation...people are selling.

Mon, 08/06/2012 - 08:59 | 2681314 Haager
Haager's picture

The glitch is only for sellers. Buyers are welcome...

Mon, 08/06/2012 - 09:38 | 2681415 francis_sawyer
francis_sawyer's picture

I was waiting 4 it, but... OK... I'll fucking go ahead & say it...

GLITCHEZ BITCHEZ!

Mon, 08/06/2012 - 08:54 | 2681306 CheapBastard
CheapBastard's picture

My check once bounced due to "a technical glitch."   They called it "no money" back then.

Mon, 08/06/2012 - 08:56 | 2681310 Shocker
Shocker's picture

Stop living in 2008 :)

Mon, 08/06/2012 - 09:03 | 2681321 i-dog
i-dog's picture

If they send your check back marked "Insufficient Funds", then change to a bank that does have sufficient funds!

Mon, 08/06/2012 - 08:58 | 2681312 Money 4 Nothing
Money 4 Nothing's picture

Technical Glitch = must have liquidity in said market before you flip the switch on.

Mon, 08/06/2012 - 09:34 | 2681411 Iam_Silverman
Iam_Silverman's picture

"Technical Glitch = must have liquidity in said market before you flip the switch on."

Good point.  So, if they need liquidity, I guess that we should hook them up with some of our HFT bots to really stir up the money flow?  Call Goldman, NOW!

Tue, 08/07/2012 - 02:06 | 2683918 combatsnoopy
combatsnoopy's picture

First it was Knight Capital.  Then Tokyo just a few hours ago.  Then Spain.  The butterfinger slips are happening too close to eachother- and somehow QE and TARP made this all possible on light volume.  

 

Mon, 08/06/2012 - 12:12 | 2681888 Svendblaaskaeg
Svendblaaskaeg's picture

A glitch in the Matrix. It happens when they change something

Mon, 08/06/2012 - 09:02 | 2681317 Meesohaawnee
Meesohaawnee's picture

i think because the algos and ben's algos got crossed up  on what they programmed the finish is to be today.. shit happens

Mon, 08/06/2012 - 09:03 | 2681319 Fubared
Fubared's picture

Looks like they have some troubles and cant even post on the web properly.

 

http://www.ibex35.com/

 

/R

Mon, 08/06/2012 - 09:04 | 2681323 Michelle
Michelle's picture

HFT, Algos, Fat Fingers??? Seriously, we're not that dumb! Somebody or some group is behind all these nefarious acts and there are just too many of them that it is becoming painfully obvious what the ultimate goal will be.

Mon, 08/06/2012 - 09:04 | 2681325 LeisureSmith
LeisureSmith's picture

So, is this a rim-job or a ramp-job? Can't remember which is which.

Mon, 08/06/2012 - 12:13 | 2681890 Svendblaaskaeg
Svendblaaskaeg's picture

a rim-job is just target practice

Mon, 08/06/2012 - 09:14 | 2681337 LawsofPhysics
LawsofPhysics's picture

This is what happens when you allow people to sell. LMFAO!!  All your 401k is belong to us.  Let me guess, no-one will be allowed to "cash-out" until dead.  Atlas continues to shrug.

Mon, 08/06/2012 - 09:18 | 2681347 LouisDega
LouisDega's picture

I just woke up and pinched a loaf. Are the futures up?

Mon, 08/06/2012 - 09:12 | 2681351 HD
HD's picture

It's never a "glitch" when the market explodes up...

Mon, 08/06/2012 - 09:13 | 2681353 insanelysane
insanelysane's picture

An honest trading algo is a simple piece of computer code.  All of these "technical" glitches makes me think that the code contains a bunch of special features for the bankstas.

Mon, 08/06/2012 - 09:19 | 2681370 Conrad Murray
Conrad Murray's picture

“The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways.” - Assistant U.S. Attorney Joseph Facciponti, regarding Squid Code during the Aleynikov incident

Mon, 08/06/2012 - 09:21 | 2681373 HD
HD's picture

Special code:

 

  10  LIE

  20  CHEAT

  30  STEAL

  40  START RUMOR

  50  PUMP RUMOR

  60  DUMP RUMOR

 70   GO TO 10

Mon, 08/06/2012 - 09:46 | 2681435 fuu
fuu's picture

That code is much too basic.

Mon, 08/06/2012 - 11:08 | 2681702 HD
HD's picture

Agreed...but my Fortran is rusty.

Mon, 08/06/2012 - 11:27 | 2681764 fuu
fuu's picture

You could have coboled something together I am sure.

Mon, 08/06/2012 - 20:54 | 2683333 GetZeeGold
GetZeeGold's picture

 

 

C......I know knew he could do it.

 

Tue, 08/07/2012 - 00:32 | 2683825 fuu
fuu's picture

So much smalltalk back and forth.

Mon, 08/06/2012 - 09:17 | 2681359 jcamargo
jcamargo's picture

The glitch was so positive to the IBEX. Maybe they should make it last for the whole year.

Mon, 08/06/2012 - 09:19 | 2681365 Conrad Murray
Conrad Murray's picture

I like apple pie.

Mon, 08/06/2012 - 09:22 | 2681368 adr
adr's picture

So when did the Dow infect Spain?

Am I seeing that right? 100 points up in about 10 minutes followed by a 50 point loss, and a 25 point gain all within an hour. I guess people really are stupid if they fall for this. They claim a glitch, which cause a giant spike and then claim the situation is fixed. However the glitch still leaves the market higher.

It is the same thing where a company jacks up the price of an item from $3 to $4. People complain so they lowerthe price to $3.50 to make people happy. People forget that the price was $3 and are just happy not to pay $4. The company laughs all the way to the bank.

The farce of life.

Mon, 08/06/2012 - 09:23 | 2681378 tradewithdave
tradewithdave's picture

FT's Jack "premature" on probe by Chilton. 

http://tradewithdave.com/?p=11399

Mon, 08/06/2012 - 09:24 | 2681380 Meesohaawnee
Meesohaawnee's picture

and the equity markets are any different?? dear ben. please program in the algos a little bit of a correction. make it look good. you dont want the last light in this joke to turn off and just roaches on the floor of the nyse.. art crashin's face looks like he know full well this is not a "market"

Mon, 08/06/2012 - 09:24 | 2681382 chinaboy
chinaboy's picture

The stock markets around the globe are both technocal broken and fundamentally broken.

Mon, 08/06/2012 - 09:37 | 2681413 Iam_Silverman
Iam_Silverman's picture

What does "technocal" mean?

Mon, 08/06/2012 - 09:26 | 2681386 Meesohaawnee
Meesohaawnee's picture

actually the opposite.. "fixed" come to mind

Mon, 08/06/2012 - 09:51 | 2681451 dvsteenk
dvsteenk's picture

now is easiest time for seasonal adjustment of stocks, indices, futures, currencies, etc.... every human trader is on holiday

Mon, 08/06/2012 - 10:02 | 2681484 vertexa
vertexa's picture

There was a lot of talk, but the ECB's bond purchase program remained on ice last week, the bank reporting zero purchases under its SMP. It's now been more than six months since any buys have been made.                  

Mon, 08/06/2012 - 10:07 | 2681513 dvsteenk
dvsteenk's picture

reported = true ?

Mon, 08/06/2012 - 13:28 | 2682124 pd45
pd45's picture

They are resorting the Que, so that at the end of the day it'll be nice U.

 

Hey it rhymes !!

Mon, 08/06/2012 - 14:39 | 2682397 monad
monad's picture

Be patient, rigging markets takes time.

Mon, 08/06/2012 - 18:04 | 2682988 shovelhead
shovelhead's picture

The bots have Ebola.

Just watched 'Contagion'.

Scary shit. Coming to your neighborhood soon.

Best way to hide a market crisis would be to have A WORSE CRISIS.

25% mortality rate would get those unemployment #'s down.

Go long on quick-lime.

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