Russian Stock Market has suspended trading

#1

Post by sheraz » Mon, Apr 23, 2012, 11:35 PM UTC

Russian Stock Market has suspended trading
rts.micex.ru

Re: Russian Stock Market has suspended trading

#2

Post by sheraz » Mon, Apr 23, 2012, 11:36 PM UTC

Other parts of the internet speculate hacking or other security breaches on their systems.

Re: Russian Stock Market has suspended trading

#3

Post by mtjl79 » Tue, Apr 24, 2012, 12:08 AM UTC

Anyone have any idea as to why? I have been searching and haven't found any exact responses yet.

Will this somehow affect US and all of us globally?

EDIT: (From Reuters UK)

"a problem in displaying orders and deals in the main stock market section." (Reporting by Zlata Garasyuta; Writing by Andrey Ostroukh)

http://uk.reuters.com/article/2012/04/23/russia-stocks-suspe...

Re: Russian Stock Market has suspended trading

#4

Post by kia » Tue, Apr 24, 2012, 12:16 AM UTC

It's just a technical failure. The trading was stopped for about 4 hours. After reopening the stock market fell 2.5 percent. No official statement was made about what caused the failure.

From here: http://echo.msk.ru/news/881684-echo.html

Re: Russian Stock Market has suspended trading

#5

Post by tubbo » Tue, Apr 24, 2012, 1:09 AM UTC

mtjl79 wrote: post #3

Anyone have any idea as to why? I have been searching and haven't found any exact responses yet. Will this somehow affect US and all of us globally? EDIT: (From Reuters UK) "a problem in displaying orders and deals in the main stock market section." (Reporting by Zlata Garasyuta; Writing by Andrey Ostroukh) http://uk.reuters.com/article/2012/04/23/russia-stocks-suspe...

"a problem in displaying orders and deals in the main stock market section."

well, i guess that's the last time we let Groupon manage the russian stock market...

Re: Russian Stock Market has suspended trading

#6

Post by ecubed » Tue, Apr 24, 2012, 1:29 AM UTC

sheraz wrote: post #2

Other parts of the internet speculate hacking or other security breaches on their systems.

I feel like someone made alot of money off this somehow...

Re: Russian Stock Market has suspended trading

#7

Post by mahmud » Tue, Apr 24, 2012, 2:14 AM UTC

ecubed wrote: post #6

sheraz wrote: post #2

Other parts of the internet speculate hacking or other security breaches on their systems.

I feel like someone made alot of money off this somehow...

Nothing they wont give back with a little jumper-cable cryptanalysis.

Re: Russian Stock Market has suspended trading

#8

Post by davidmr » Tue, Apr 24, 2012, 3:41 AM UTC

This is a not-infrequent situation. We have an announcement over the PA system any time an exchange is having technical difficulties. It doesn't happen super often, but I'd say that it happens somewhere in the world one to two times a month.

The exchanges usually bust a bunch of trades that happened right before the outage, depending on the nature of the problem. One would hope that that would be sufficient to prevent abuse for low-risk profits, but I'd probably be the last to know... What happens in Mother Russia stays in Mother Russia.

Re: Russian Stock Market has suspended trading

#9

Post by pdeuchler » Tue, Apr 24, 2012, 3:55 AM UTC

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

You couldn't pay me enough to be in that war room right now

Re: Russian Stock Market has suspended trading

#10

Post by apaprocki » Tue, Apr 24, 2012, 4:17 AM UTC

davidmr wrote: post #8

This is a not-infrequent situation. We have an announcement over the PA system any time an exchange is having technical difficulties. It doesn't happen super often, but I'd say that it happens somewhere in the world one to two times a month. The exchanges usually bust a bunch of trades that happened right before the outage, depending on the nature of the problem. One would hope that that would be sufficient to preven…

News reports say that MICEX last had a similar technical failure on Dec 19th, 2011.