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Russian Stock Market has suspended trading

62 points by sheraz 15y ago

sheraz 15y ago
Other parts of the internet speculate hacking or other security breaches on their systems.
- ecubed 15y ago
  I feel like someone made alot of money off this somehow...
  - mahmud 15y ago
    Nothing they wont give back with a little jumper-cable cryptanalysis.
mtjl79 15y ago
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-suspension-idUKL5E8FNADK20120423 http://uk.reuters.com/article/2012/04/23/russia-stocks-suspe...
- tubbo 15y ago
  "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...
kia 15y ago
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 http://echo.msk.ru/news/881684-echo.html
davidmr 15y ago
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.
- apaprocki 15y ago
  News reports say that MICEX last had a similar technical failure on Dec 19th, 2011.
  - sparknlaunch12 15y ago
    This is a frequent occurrence.
- obiterdictum 15y ago
  ASX shutdown for 4 hours on option expiry day. http://www.abc.net.au/lateline/business/items/201110/s3350037.htm http://www.abc.net.au/lateline/business/items/201110/s335003... Also, so did HKEx (for the entire day, on option expiry day!) due to a typhoon (?), as far as I recall. This is non-news. Exchanges do stop trading unexpectedly sometimes and it's hardly specific to Russia. I'm not sure what was the submitter's interest in it.
  - sheraz 15y ago
    I posted here because I find the HN crowd to be ahead of the curve on news like this (security, tech, etc). For example, previous posts have called this out as a non-event, which I found informative. I learned that exchanges are not as fault-tolerant as I thought. That is why I posted.
pdeuchler 15y ago
"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
- JoachimSchipper 15y ago
  They're investing a few millions in those people's education right now. You'd learn a lot, and it would cost you just a few sleepless nights.
sparknlaunch12 15y ago
Not again! Maybe suspended for ever?

62 points by sheraz 15y ago

sheraz 15y ago

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

ecubed 15y ago
I feel like someone made alot of money off this somehow...
- mahmud 15y ago
  Nothing they wont give back with a little jumper-cable cryptanalysis.

mtjl79 15y ago

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-suspension-idUKL5E8FNADK20120423 http://uk.reuters.com/article/2012/04/23/russia-stocks-suspe...

tubbo 15y ago
"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...

kia 15y ago

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

davidmr 15y ago

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.

apaprocki 15y ago
News reports say that MICEX last had a similar technical failure on Dec 19th, 2011.
- sparknlaunch12 15y ago
  This is a frequent occurrence.
obiterdictum 15y ago
ASX shutdown for 4 hours on option expiry day. http://www.abc.net.au/lateline/business/items/201110/s3350037.htm http://www.abc.net.au/lateline/business/items/201110/s335003... Also, so did HKEx (for the entire day, on option expiry day!) due to a typhoon (?), as far as I recall. This is non-news. Exchanges do stop trading unexpectedly sometimes and it's hardly specific to Russia. I'm not sure what was the submitter's interest in it.
- sheraz 15y ago
  I posted here because I find the HN crowd to be ahead of the curve on news like this (security, tech, etc). For example, previous posts have called this out as a non-event, which I found informative. I learned that exchanges are not as fault-tolerant as I thought. That is why I posted.

pdeuchler 15y ago

"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

JoachimSchipper 15y ago
They're investing a few millions in those people's education right now. You'd learn a lot, and it would cost you just a few sleepless nights.

sparknlaunch12 15y ago

Not again! Maybe suspended for ever?