hmmmm, multiprice flipping y'say..... I've seen it before in the bund all the time, usually after 5pm London time during the rollovers there is a lot of gapping in the Eurex.
I know Vlad and last i heard he wasnt going near Eurex due to their sh!tty laggy data updates (heartbeat), slow order processing, cancels & acknowledgements.
flipping a price from bid to offered (or vice versa) without actually trading any of it. e.g. bidding up a price to give the illusion of bid, then yanking your bid and offering the contract. this is now being done not just on the bid/offer, but on the prices adjacent to the bid/offer...therefore flipping prices from bid, to 3/4 ticks lower in an instant.
the bund is also seeing periods of 2 tick markets , which havn't been around for years. I wonder if this is going to drive liquidity from an otherwise very liquid contract ?
The bund is quite jumpy today (3 ticks sometimes with one big order), but I do not think flipping will affect the liquitdity of the bund.
The bank traders are getting annoyed by this because it's screwing up their MTS quotes on the cash which are priced from the futures. It's a play on the cash market, if he can get more orders filled on the cash by moving bund future than he has to fill on the blip he's making money. Whereas rotter broke the back of locals just trading futures this guy's after the cash market taking it off the institutions trading MTS