- Jul 20, 2016
- 6,572
- 20,209
When I saw this headline, I was intrigued. Also, this is the only press I've seen about the glitch that dropped some of the biggies like Amazon and Google 87% and raised some others by 3000%. It was all nicely explained as a glitch.
I usually gloss over info like this, but 2 things jumped out at me - the pricing of 1-2-3-4-7 and the triggering of trading halts that recognize large increases and losses across many companies. We backed out of the stock market years ago when we saw how insane it had become, so I don't really follow it anymore. Does anyone else find this interesting?
As Bloomberg reports, the apparent swings triggered trading halts in some securities, according to automatically generated messages. The halts are a mechanism exchanges use to limit the impact of particularly volatile sessions. A system status alert on Nasdaq’s website said that systems were operating normally at 8:23 p.m. ET. After-market hours on Nasdaq typically last from 4 p.m. to 8:00 p.m.
In a statement, Nasdaq said the glitch was related to “improper use of test data” sent out to third party data providers, and said it was working to “ensure a prompt resolution of this matter”. In cases of any clearly erroneous data, trades made are cancelled.
http://www.zerohedge.com/news/2017-07-03/nasdaq-triggers-market-wide-circuit-breaker-amzn-crashes-87-after-hours
I usually gloss over info like this, but 2 things jumped out at me - the pricing of 1-2-3-4-7 and the triggering of trading halts that recognize large increases and losses across many companies. We backed out of the stock market years ago when we saw how insane it had become, so I don't really follow it anymore. Does anyone else find this interesting?
As Bloomberg reports, the apparent swings triggered trading halts in some securities, according to automatically generated messages. The halts are a mechanism exchanges use to limit the impact of particularly volatile sessions. A system status alert on Nasdaq’s website said that systems were operating normally at 8:23 p.m. ET. After-market hours on Nasdaq typically last from 4 p.m. to 8:00 p.m.
In a statement, Nasdaq said the glitch was related to “improper use of test data” sent out to third party data providers, and said it was working to “ensure a prompt resolution of this matter”. In cases of any clearly erroneous data, trades made are cancelled.
http://www.zerohedge.com/news/2017-07-03/nasdaq-triggers-market-wide-circuit-breaker-amzn-crashes-87-after-hours
