[qrybam]

The auction is meant to find a stable price and can have some wild prices coming in, because no matching happens at the point of entry, the market will naturally find a level before trading commences. In this case, those wild prices were matching, resulting in crazy trades no-one would have expected.

You'd be surprised how many manual processes there are in places like this. It's a combination of legacy systems / processes, and a general paranoia around automation going wrong. I wouldn't be surprised if they always have someone there to shepherd the system along.

[benjaminwootton]

When I worked on a trading platform, I spent many a happy Sunday night waiting for the Australian market to open and watch the first orders go through successfully.

We had hundreds of jobs and upgrades happening over each weekend. It definetly needed an eye casting over it regardless of the automation.

[xwolfi]

I am working at one now and nothing has changed. Automations are so many we recruit an army of people just checking if they ran, while knowing how to replace them if they didnt (or, more accurately, who to call at night to fix it asap).

And the AU orders going through is a good sign, but it's far from guaranteeing a free monday, as Japan, Korea or Shanghai can fuck it up, each in their own little ways. Hong Kong is the best, low regulatory crap, invested regulator, high volume low latency traffic everyday (relative to the region), I cant recall a time it broke.

Once, someone fat fingered an excel import at close, and we lost our trading license for that entire country for 18 months. And we're not small. But the amount mismatched at settlement was super tiny. High attack surface, low holistic understanding (it works despite us, we honestly have no clue sometimes), heavy consequences on screwup.