What happen at the futures ????????????????

[BondTrader50]

Quote from TraDaToR:

I watched the T§S for ES and the algo/ fat finger/ whatever bought and sold large market orders in the same second, removing really large sizes and driving prices a lot outside fair value.

Bids and asks didn't really update before the market was back at fair value and the guy for sure wasn't able to sell at tops and buy at bottoms after it...Even if its limit orders were already placed at extremes, the stop orders filled would not have offset the huge sizes needed to drive it there....

The guy has huge losses IMHO...

Huge losses no doubt. Some idiot, (either intentionally or out of pure stupidity) hit the wrong button or was testing in a live environment.

 

[erlewine]

Quote from 5yrtrader:

I am hearing rumors that it was UBS

I guess UBS isn't part of the Chicago "club" or was in arrears on their protection payments.

No doubt if this was MFG or Goldman it would have been a Globex system glitch and busted in 10 minutes.

 

[stock_trad3r]

This is why futures traders often underperform the market.

 

[PohPoh]

Lies...all lies...
this is unacceptable..
there needs to be an explanation...

Someone should light a fire under the ass of these exchanges to get that explanation....

 

[TraDaToR]

Quote from stock_trad3r:

This is why futures traders often underperform the market.

????



stocktrader....

 

[bali_survivor]

Quote from BondTrader50:

Huge losses no doubt. Some idiot, (either intentionally or out of pure stupidity) hit the wrong button or was testing in a live environment.

If you purely look at a short term perspective then you are right.

If you are looking at that it is election year, that summer is coming and are looking at a little bit longer timeframe then it is just another game that is being played.

regards

Maria

 

[morreo]

Quote from Triple X:

It always amazes me how they get away with advertising there are no MM's in futures.

What are you talking about? I used to get paid by the exchange, 35k euros a year, to be a MM in the Euribor markets.

 

[Mercor]

Quote from TraDaToR:

I watched the T§S for ES and the algo/ fat finger/ whatever bought and sold large market orders in the same second, removing really large sizes and driving prices a lot outside fair value.

Bids and asks didn't really update before the market was back at fair value and the guy for sure wasn't able to sell at tops and buy at bottoms after it...Even if its limit orders were already placed at extremes, the stop orders filled would not have offset the huge sizes needed to drive it there....

The guy has huge losses IMHO...

Interesting points.....either it was a fat mistake or if a plan they must have offset it in the options or cash market earlier.

They may have held onto those positions.

 

[TraDaToR]

Quote from bali_survivor:

If you purely look at a short term perspective then you are right.

If you are looking at that it is election year, that summer is coming and are looking at a little bit longer timeframe then it is just another game that is being played.

regards

Maria

Whatever the game being played, taking thousand of lots at market( or marketable limits ) and obtaining most of it outside fair value is never a proof of fine trading... especially in the oevrnight session...