Dollar Index strange happenings

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kagi

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Yesterday (Tuesday 3/11/09) at around 10 AM GMT the dollar index traded at $80, it spent five or so minutes at this level and then returned down to its ‘normal’ level. Now the exchange in America (ICE , NTBOT) have cancelled all trades above $77.5. Does anybody know what's going on.
The $77.5 high that the exchange have adopted, seems very high, way above the range in which to dollar exchange and has been trading recently. Has somebody was being trying to rig the market?
 
Hmmmm - not anything I've heard here personally, although if something odd did happen it would be the second time this week, after the debacle on the TFX with the zar/jpy out trade. Let me do a little digging. If I hear anything I'll report back.
 
GammaJammer said:
Hmmmm - not anything I've heard here personally, although if something odd did happen it would be the second time this week, after the debacle on the TFX with the zar/jpy out trade. Let me do a little digging. If I hear anything I'll report back.
Click to expand...
Mr Bund told me in our chat room that there was some fat-fingering in the DXY futures. Apparently, most, but not all, trades got busted.

As Macro Man points out, ZARJPY type of shenanigans occurred in EURHUF a few days ago, also. Leaving stops in brokers seems to be a bad idee these days.
 
I am trying to find a dollar index chart, that is up to date to at least 5 minutes, does anyone have a link for one pls.
 
think the eurhuf was a very different thing mate fyg (although effect ends up the same). That was a drive-by in NY where a few people got wind of where the stops were and went after them. The zar/jpy thing was to do with wide quotes by a market maker, someone hitting one, registering an off market but nevertheless genuine print ON EXCHANGE (which is key) and that print ending up being basically the closing price, triggering lots of stops and also auto-liquidation, margin calls etc. That was my understanding. Like I said, subtle difference in cause, less difference in effect.

But in the case of the zar/jpy there's an actual exchange, the TFX, left with serious egg on face and a bit of explaining to do. The eurhuf was just typical NY shenanigans. Precisely why I don't leave E.M. stops out in NY time anywhere where I don't absolutely trust the person watching em.
 
in DXY it's the dec futures where all the kerfuffle was right? Martin - you got the bberg ticker for those mate?
 
Thx, GJ, for the explanation... A very useful bit of insight into the (nasty) world of FX for me.

As to DXZ9 Curncy, I confess to being a bit mystified. Firstly, there seem to be DXY futures on the CME and ICE (aka NYBOT) both. DXZ9 in BBG is the ICE version, but I heard people saying that the fat-finger took place on the CME. Secondly, do I have this right that DXY futures are physically settled? Does that mean that I might get delivered 6 FX positions in one fell swoop, using the exch-determined weights?
 
gooseman said:
can i throw in that i hate FX......leave that to the pro's ;)
Click to expand...
it's a snakepit, I agree... Present company excluded, of course, GJ :).

I say regulate the FX mkt into oblivion! Down with Mrs. Watanabe and her heinous ilk!
 
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