Russian Stock Market has suspended trading | Hacker News Reader

Russian Stock Market has suspended trading

rts.micex.ru

62 pointssheraz14 comments

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.

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

This is a frequent occurrence.

ASX shutdown for 4 hours on option expiry day. 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.

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.

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

"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

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.

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...

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.

Not again! Maybe suspended for ever?

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