Holy mother-short sterling.......

[gooseman]

what the hell!

 

[noshoulders]

incredible,

think that was bigger than the eurodollar move a while back?

 

[arabianights]

Wish I was at work, just head about this now. Nice to see that the markets are functioning in an orderly manner!

Yeah I think the eurodollar move was only about thirty ticks, last time something like this happened was maybe the 250 ticks on the bund around march kind of time?

 

[gooseman]

130 ticks, about 1000 traded down there-bit of a missed opportunity there. liffe standing the trades too.

 

[arabianights]

I'll be honest with you, 130 000 short sterling ticks would really have made my day.

 

[gooseman]

i got 3 lots away

 

[Splitlink]

Short stirling? I went long stirling against the euro this morning. That was a fair one, too. I have a one track mind and can't watch them all. The fact is, I live better with the smaller risk---or is that just an opinion?

 

[arabianights]

nonononononono, Euronext - Product information > Contract specifications

 

[N Rothschild]

what the hell happend there?

 

[gooseman]

i think they look at the reasons behind it and see if there are trades down thee etc which there were.

the merc said there were too many trades to bust when it happened in eurodollar white pack trade....crazy. didn't bust any.

i don't like having to rely on exchange discretion.

 

[arabianights]

It's LIFFE, whoever has the biggest brown envelope wins.

However there are actual rules on the website, and if they were followed it's pretty difficult to get the trades busted; basically on short sterling so long as it doesn't gap more than 10 ticks at a time and isn't obviously fraudulent then they won't be busted - implied pricing would mean you'd have to bust a pile of spreads as well etc etc and it would get bloody difficult.

 

[gooseman]

someone entered an order into a thin front march order book and it set off stops and the other months follwed suit.

 

[gooseman]

thin markets mate-don't help

 

[noshoulders]

Wish I was at work, just head about this now. Nice to see that the markets are functioning in an orderly manner!

lol yep!

Yeah I think the eurodollar move was only about thirty ticks, last time something like this happened was maybe the 250 ticks on the bund around march kind of time?

19th september, front month might have been 30 ticks but the rest of the curve got really hammered like today. Appears some of their reds got to 150 off.

 

[N Rothschild]

Ouch. Been some silly stuff going on in FX today as well. Lot of fat people with concomitantly large fingers about the last few days.

eurusd taking a beating today, dow taking one aswell in the last hour