beefsteak
24th March 2012, 07:44 AM
http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)
SkyNet Is Now Cannibalizing Itself: BATS IPO Flash Crashes (http://www.zerohedge.com/news/skynet-now-cannibailizing-itself-bats-ipo-flash-crashes)
Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 03/23/2012 - 11:24
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/03/20120323_BATS_0.png (http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/03/20120323_BATS.png)
Presented with little comment - except the irony is simply too much to bear as BATS crashes from $15.75 to $0.038 in minutes...perhaps reflecting the WSJ article (http://online.wsj.com/article/SB10001424052702304636404577297840134760650.html?m od=djemalertNEWS)on HFT abuse and that BATS is being investigated for HFT abuse (ahem) on the day it goes public.
We note that there were some trades executed at $0.00!
The reason for the crash apparently is because BATS stock is ony trading on the BATS exchange, where apparently the APPL halt the second before also happened. Pretty much tells us all we need to know about the stability of broken market structure.
In other news, the stock, and exchange, have now been renamed BATShit - perhaps the VVIX can trade there next or something... And they wonder why nobody trades this farce of a market any more.
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This one made me LOL!
Wrily noticed there is NO mention of BATShit trades busted post flash crash.
beefsteak
SkyNet Is Now Cannibalizing Itself: BATS IPO Flash Crashes (http://www.zerohedge.com/news/skynet-now-cannibailizing-itself-bats-ipo-flash-crashes)
Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 03/23/2012 - 11:24
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/03/20120323_BATS_0.png (http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/03/20120323_BATS.png)
Presented with little comment - except the irony is simply too much to bear as BATS crashes from $15.75 to $0.038 in minutes...perhaps reflecting the WSJ article (http://online.wsj.com/article/SB10001424052702304636404577297840134760650.html?m od=djemalertNEWS)on HFT abuse and that BATS is being investigated for HFT abuse (ahem) on the day it goes public.
We note that there were some trades executed at $0.00!
The reason for the crash apparently is because BATS stock is ony trading on the BATS exchange, where apparently the APPL halt the second before also happened. Pretty much tells us all we need to know about the stability of broken market structure.
In other news, the stock, and exchange, have now been renamed BATShit - perhaps the VVIX can trade there next or something... And they wonder why nobody trades this farce of a market any more.
==============
This one made me LOL!
Wrily noticed there is NO mention of BATShit trades busted post flash crash.
beefsteak