Possible Russian stock market crash

[ximmy]

Was the Russian stock market closed because of an impending crash? ???

Update: Halt Extended.... Russian Main Sector Trading Halted
Submitted by Tyler Durden on 04/23/2012 11:08 -0400

Update: the PPT has not done its job just yet, which is why the Micex just announced it will extend the suspension for another 40 minutes. Since it may reopen at 7: 35 pm, perhaps Russia may just keep it closed until tomorrow?

http://www.zerohedge.com/news/russian-main-sector-trading-halted

These are the we need to be looking out for, a crash across Europe, then to the US.

Russian Stock Market Will Not Reopen: “The Situation Has Been Recognized As An Emergency”
Posted on April 23, 2012 by david
http://www.micex.ru/cs/engines/stock/markets/index/securities/MICEXINDEXCF.png?c.width=339&z1.width=339&z1_c.width=339&c.height=169.5&z1.height=169.5&z1_c.height=169.5&template=adv_no_volume&_=1335205473434&compare=&compare_template=adv_no_volume_comp&candles=540&interval=1

This is not a drill – the Russian Stock Market has closed indefinitely, and reports are that the Russian Government has declared it an Emergency.

http://ncrenegade.com/editorial/russian-stock-market-will-not-reopen-the-situation-has-been-recognized-as-an-emergency/

[Silver Rocket Bitches!]

Wow that's some serious shit right there. Historic even.

[osoab]

Did JPM need more cash?

[chad]

chatter on zero hedge earlier today is that it was hacked in to. :confused:

[Silver Rocket Bitches!]

Here's the only mainstream news I could find about it:


Moscow’s Micex Index (INDEXCF) (http://www.bloomberg.com/quote/INDEXCF:IND) slipped 2.6 percent to close at 1,466.34, after the evening session of trading was halted for about four hours for technical reasons.

Russia (http://topics.bloomberg.com/russia/)’s Micex-RTS Exchange resumed trading on its indexes at 9:50 p.m. yesterday in Moscow, according to a statement on the bourse’s website. Trading data from 5:41 p.m. on will be restored, the statement said.
It was the second trading halt since the Micex and RTS exchanges merged in December and the third in the past 12 months, Nikita Bekasov, spokesman for the exchange, said yesterday by phone. False data was reflected in the trading system for an unknown reason and the Micex-RTS is undertaking an investigation, he said.
Micex-RTS ‘Emergency’

“We hope there will be no loss to anyone,” Bekasov said, adding that equities and bonds trading on the Micex’s main market were affected. “We treated the situation as an emergency, making sure no one left work here at the Micex before the system was restored.”
Brazil (http://topics.bloomberg.com/brazil/)’s Bovespa Index has delayed the start of trading three times over the past 12 months in Sao Paulo (http://topics.bloomberg.com/sao-paulo/). The last time the exchange used a circuit breaker to halt trading was in October 2008.
“Clients seem frustrated,” Luis Saenz (http://topics.bloomberg.com/luis-saenz/), chief executive officer of the U.S. unit of Moscow brokerage Otkritie Financial Corp., said in a phone interview yesterday. “I hope that it doesn’t resemble how they deal with the future reforms coming up.”
Russia’s Micex-RTS Exchange plans to debut a central securities depositary in July and move away from immediate settlement of transactions, changes that bring the market into line with developed market bourses and will allow conservative investors such as pension funds to buy Russian equities, Micex-RTS President Ruben Aganbegyan said in an interview at Bloomberg’s headquarters in New York on April 16.

http://www.bloomberg.com/news/2012-04-23/stocks-drop-to-3-month-low-on-shrinking-output-russia-overnight.html

[Silver Rocket Bitches!]

chatter on zero hedge earlier today is that it was hacked in to. :confused:

"False data was reflected in the trading system for an unknown reason and the Micex-RTS is undertaking an investigation, he said. "

Sounds like a hack to me.

[osoab]

"False data was reflected in the trading system for an unknown reason and the Micex-RTS is undertaking an investigation, he said. "

Sounds like a hack to me.

Goldman Sack's algorithm hack maybe.

[ximmy]

At the moment micex RTS still shows down...

23.04.2012 20:26
The technical suspension of trading to be extended

The situation has been recognized as an emergency. Further actions will be announced shortly.

For further information, please contact the Public Relations Department (http://rts.micex.ru/n610/?nt=201#) at (495) 363-3232.

Main news
23.04.12 The technical suspension of trading to be extended (http://rts.micex.ru/n610/?nt=201)23.04.12 Suspension of trading on the Securities Market (http://rts.micex.ru/n605/?nt=201)23.04.12 Ordinary shares of AK "ALROSA" (OAO) included into the Quotation list A Level II (http://rts.micex.ru/n598/?nt=201)23.04.12 Operating schedule for foreign currency trading in OJSC MICEX-RTS from April 28 through May 12 (http://rts.micex.ru/n597/?nt=201)23.04.12 MICEX-RTS launches trading in long-term USD/RUB FX swap (http://rts.micex.ru/n594/?nt=201)20.04.12 Schedule for repo operations with the Bank of Russia from April 23th through May 12th 2012 (http://rts.micex.ru/n591/?nt=201)20.04.12 Open interest on Russian Federation government bonds futures exceeds RUB6 bln (http://rts.micex.ru/n583/?nt=201)19.04.12 New constituent lists for the MICEX Corporate Bond Index and MICEX Municipal Bond Index announced (http://rts.micex.ru/n582/?nt=201)19.04.12 Market makers operations on the MICEX-RTS derivatives market on public holidays (http://rts.micex.ru/n571/?nt=201)


http://rts.micex.ru/n610/?nt=201

[Spectrism]

Some fat fingers got sloppy eating sticky buns, greasy chicken and spilling a bowl of borscht on the keyboard.

[BabushkaLady]

Some fat fingers got sloppy eating sticky buns, greasy chicken and spilling a glass of Vodka on the keyboard.


Fixed it for ya! ;)

[Mouse]

Vee have taken down zee system. Pass em the vodkas.

Vee are anchonymicexes. Vee are Leegion. Vee does nots forgets. Vee does nots forgives. Vee have all of chyour bases that are of belongs to us now. Hahahahahah.

You be expecting to see us now!


2707

[ximmy]

Measures taken by MICEX-RTS concerning the outage on the Exchange"s Main Market on April 23, 2012

On April 23, 2012 the Main market sector of the MICEX-RTS Group's Securities market suffered technical problems, i.e. at 5.45pm MSK market data in the order book of market participants ceased to be updated.
At 5.56pm MSK the MICEX Stock Exchange General Director announced that trading was to be suspended until 6.56pm MSK in order to contain the situation.
At 6.45pm MSK the suspension was extended until 7.35pm MSK and then until 7.55pm MSK.
Effects of the 120-minute outage were not eliminated and at 8.10pm MSK the General Director announced the emergency situation in the Main Market sector based on clause 1.13.9 of the Trading rules of CJSC MICEX Stock Exchange.
Range of organizational and technical measures was taken to recover from the emergency situation and by 9.30pm MSK the operability of the trading system were restored.
To generate the representative closing price and protect investors' rights the following schedule of trading was established:


9.50pm - 10.10pm – trading period in the Main trading mode of the Main trading session;
9.50pm - 10.10pm – execution of trades in the Negotiated trades mode and repo trades.
10.20pm – close of the main trading session.

The Exchange applied to the Bank of Russia for extension of operating time of the multivoyage payment processing system in order to minimize implications of the emergency situation.
Decisions taken by the Directorate of the Exchange and competent actions of Exchange's specialists allowed trading members to close their operations including cancel orders, perform clearing and fulfill obligations under executed trades even under the outage circumstances.
MICEX-RTS realizes the consequences that the outage could bring to the market and apologizes to trading members. The Exchange firmly intends to detect and examine causes of the disruption.



On causes of the outage on April 23, 2012 and undertaken measures

On causes of the outage on April 23, 2012 and undertaken measures A thorough review of circumstances associated with the outage of the Equities market main section on April 23, 2012 was conducted by MICEX-RTS technical team and industry experts.
The analysis pointed to the error in processing a market transaction that triggered fault of the trading system's real time backup solution. Because of that the gateways were unable to verify the validity of distributed data, which in its turn resulted in a halt of orders and trades information being refreshed. The root cause is identified as a simultaneous failure of the software and the hardware that provide redundancy for the trading system.
To eliminate effects of the outage, by the start of trading on the 24th of April, 2012 the faulty hardware unit powering the MICEX-RTS Stock Exchange trading system was replaced. In addition, the set of default outage scenarios has been adjusted. A special test environment was assembled to continue probing and simulating a wider set of outage scenarios.
A working group has been established for comprehensive examination and analysis of the outage causes, development of the rectification measures and recommendations to mitigate the risks of reoccurrence.

[Mouse]

This disaster brought to you by IBM. What happens when the Russians outsource IT....to....the Russians :)


On causes of the outage on April 23, 2012 and undertaken measures[/B]

On causes of the outage on April 23, 2012 and undertaken measures A thorough review of circumstances associated with the outage of the Equities market main section on April 23, 2012 was conducted by MICEX-RTS technical team and industry experts.
The analysis pointed to the error in processing a market transaction that triggered fault of the trading system's real time backup solution. Because of that the gateways were unable to verify the validity of distributed data, which in its turn resulted in a halt of orders and trades information being refreshed. The root cause is identified as a simultaneous failure of the software and the hardware that provide redundancy for the trading system.
To eliminate effects of the outage, by the start of trading on the 24th of April, 2012 the faulty hardware unit powering the MICEX-RTS Stock Exchange trading system was replaced. In addition, the set of default outage scenarios has been adjusted. A special test environment was assembled to continue probing and simulating a wider set of outage scenarios.
A working group has been established for comprehensive examination and analysis of the outage causes, development of the rectification measures and recommendations to mitigate the risks of reoccurrence.