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Russian Stock Market Closed - Emergency
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Russian Stock Market Closed - Emergency

  #1 (permalink)
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Russian Stock Market Closed - Emergency

Earlier today, this was posted

News and events — MICEX-RTS Exchange

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The original posting read: "Trading in the Main Market sector of the Securities Market has been suspended until 6.56 pm Moscow time. Please accept our apologies for any inconvenience caused." but later was revised to "The technical suspension of trading to be extended. The situation has been recognized as an emergency. Further actions will be announced shortly."

Seems like three likely possibilities:

a) Hacked
b) Politically motivated
c) Economically motivated

Thoughts?

Mike

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  #3 (permalink)
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Drudge was reporting "a problem in displaying orders and deals in the main stock market section".

Prepper Emergency: Russian Stock Market Closed Indefinately | Drudge Retort

Mike

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I am thinking possibly hacked, Hard to know really. Id imagine no matter what is going on we will be fed a happy story. I was also reading that before it closed it was trading at 2012 lows. Who knows maybe there is a choice 4. Things looked bleek and to stop a wave of uncertainty world wide the market was halted to stop it from bleeding over until things could get tideyed up. Who know. lets face it people knew about the bank crisis long before we had our 800 point debacle day.

Tim

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Further news


Quoting 
24.04.2012 12:27
Measures taken by MICEX-RTS concerning the outage on the Exchange"s Main Market on April 23, 2012
On April 23, 2012 the Main market sector of the MICEX-RTS Group's Securities market suffered technical problems, i.e. at 5.45pm MSK market data in the order book of market participants ceased to be updated.

At 5.56pm MSK the MICEX Stock Exchange General Director announced that trading was to be suspended until 6.56pm MSK in order to contain the situation.

At 6.45pm MSK the suspension was extended until 7.35pm MSK and then until 7.55pm MSK.

Effects of the 120-minute outage were not eliminated and at 8.10pm MSK the General Director announced the emergency situation in the Main Market sector based on clause 1.13.9 of the Trading rules of CJSC MICEX Stock Exchange.

Range of organizational and technical measures was taken to recover from the emergency situation and by 9.30pm MSK the operability of the trading system were restored.

To generate the representative closing price and protect investors' rights the following schedule of trading was established:

9.50pm - 10.10pm – trading period in the Main trading mode of the Main trading session;
9.50pm - 10.10pm – execution of trades in the Negotiated trades mode and repo trades.
10.20pm – close of the main trading session.
The Exchange applied to the Bank of Russia for extension of operating time of the multivoyage payment processing system in order to minimize implications of the emergency situation.

Decisions taken by the Directorate of the Exchange and competent actions of Exchange's specialists allowed trading members to close their operations including cancel orders, perform clearing and fulfill obligations under executed trades even under the outage circumstances.

MICEX-RTS realizes the consequences that the outage could bring to the market and apologizes to trading members. The Exchange firmly intends to detect and examine causes of the disruption.

Mike

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  #6 (permalink)
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And finally:


Quoting 
24.04.2012 22:38
On causes of the outage on April 23, 2012 and undertaken measures
On causes of the outage on April 23, 2012 and undertaken measures A thorough review of circumstances associated with the outage of the Equities market main section on April 23, 2012 was conducted by MICEX-RTS technical team and industry experts.

The analysis pointed to the error in processing a market transaction that triggered fault of the trading system's real time backup solution. Because of that the gateways were unable to verify the validity of distributed data, which in its turn resulted in a halt of orders and trades information being refreshed. The root cause is identified as a simultaneous failure of the software and the hardware that provide redundancy for the trading system.

To eliminate effects of the outage, by the start of trading on the 24th of April, 2012 the faulty hardware unit powering the MICEX-RTS Stock Exchange trading system was replaced. In addition, the set of default outage scenarios has been adjusted. A special test environment was assembled to continue probing and simulating a wider set of outage scenarios.

A working group has been established for comprehensive examination and analysis of the outage causes, development of the rectification measures and recommendations to mitigate the risks of reoccurrence.

Mike

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  #7 (permalink)
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Big Mike View Post
Seems like three likely possibilities:

a) Hacked
b) Politically motivated
c) Economically motivated

OK, so four options.

d) Windows 95 crashed.

Mike

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  #8 (permalink)
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Big Mike View Post
OK, so four options.

d) Windows 95 crashed.

Mike

thanks for a solid laugh Mike. More prob to me it was simply hacked, own young smart breed turning sour.

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