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Russian Stock Market has suspended trading

62 points| sheraz | 14 years ago |rts.micex.ru | reply

14 comments

order
[+] davidmr|14 years ago|reply
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|14 years ago|reply
News reports say that MICEX last had a similar technical failure on Dec 19th, 2011.
[+] obiterdictum|14 years ago|reply
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.

[+] kia|14 years ago|reply
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

[+] pdeuchler|14 years ago|reply
"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|14 years ago|reply
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.
[+] mtjl79|14 years ago|reply
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...

[+] tubbo|14 years ago|reply
"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...

[+] sheraz|14 years ago|reply
Other parts of the internet speculate hacking or other security breaches on their systems.
[+] ecubed|14 years ago|reply
I feel like someone made alot of money off this somehow...