No price discovery for over an hour!!

[tiddlywinks]

On August 4, 2006 the eCBOT went down for 3 hours!! It sucked!!

I had a short YM trade on. I covered as soon as the exchange came back up, fortunately, not as a loser.

They said it had to do with "harmonization" of regulations.

I remember thinking it was all about screwing the muppets like me!

 

[Overnight]

...
It will be interesting to see how effective circuit breakers are at stopping a significant downtrend with massive trading volume in the age of algorithm trading.

We witnessed it two years ago.

 

[TheDawn]

We witnessed it two years ago.

Not with that kind of trading volume like the 1987 crash.

 

[ajacobson]

In 87 was of the biggest problems was opening indices and you needed at least 80% weighting to be open. IBM was over 20% of the weighting. It was rarely on both Monday and Tuesday.