Risktaker: where were you just a few years back when a Deutsche Bank grad trainee flushed the DAX on Eurex for huge and then managed to bust the trade and bankrupt all the locals who took the other side? Eurex is in Franfurt if I'm not mistaken, and Deutsche Bank is a German Bank. And why can every European trader have access to the cash U.S. sovereign debt markets, but American traders can't have access to EuroMTS? Because the European Banks don't want me in there. Don't believe me? Ask a Citadel or Getco trader - they will confirm. Don't even go there, lots more where that came from.
I'm finding Larry's remarks hard to believe. I don't know what Euronext is. No investors willing to match? Probably true. Specialists' duty to offset them. For a transaction/fill to occur, there has to be another party. Period. But hey, let's blame it on the black box boogy man. It's convenient. And, we can reinforce it with riots in Greece and oil spills. "They'll" buy it.
IMO, this thing was for real. Real money, real players, real trades. Just look in one minute charts of the ES how it is smoothly draging down b4 14:45. Just a plain simple falling knife. PG fell off the table at 14:46, relative value traders (pairs) or panic selling but the people traders are responsible for the orders they send, market orders get the market price! I'd be pissed having my trades busted on the NAZ. And if someone can prove to me that there was a fat finger or misquote or wathever program that made the market fall for unreal reasons please tell us. With strong arguments or proofs I will be all ears.
Remarks, this is what it is. A poem nothing less. "It's that V-shaped drop where it came down and snaped back right back up". Sir, why dont you look at the drop in 2008: It was a V-shaped drop where it came down and snaped back right back up. Was is for real then? Chearleader.
If they are breaking he trades then it means BY DEFINITION it was NOT normal trading - otherwise no reason for breaking of trade - so someone made a mistake and someone is culpable. Looks like one of the major customers of the casino stood to lose so they changed the rules of the game mid way through as usual - Ace was high, but is now low coz someone other than the protected ones was holding aces. Of course we can all relax knowing that justice will be done now that the fearless 'leave no stone unturned' SEC is on the case.................................. That said, they probably have to break the trades to keep 'da liddle guy' turning up and paying rent to the oligarchy.
Yes, but at least it's real volume. Like it used to be in US years ago. None of this penny phuking bs that goes on nowadays.
+1 I agree. It's none of anyone's fucking business how someone trades (or decide not to trade). But the exchange should not reverse those trades considering they themselves denied any error with the exchange itself. To the exchange there should be no difference between average joe pressing the buy button on his screen at home vs a multi-billion firm using high frequency box submitting trades. The exchange needs to be fair and impartial, by reversing those trades they are basically saying even though there is nothing wrong with the execution, but since the big players lost a lot of money from their crappy trading strategy, we will give it back. That makes those exchanges lose all credibility