On Monday, while European stocks were soaring derivatives traders found they couldn't put any trades in when the largest European derivatives market, the Eurex Exchange, announced trading had been suspended until further notice. Then yesterday, as stocks were crashing, the NY Fed announced that "due to technical difficulties", it would cancel its 11:15 am Agency MBS POMO which unleashed the latest whopper of a short squeeze.
Now, moment ago, the Euronext exchange has likewise decided to break, announcing that the "Euronext is currently experiencing technical issues and has decided to halt part of the market. The list of impacted instruments is enclosed."
There are 2222 securities impacted and are listed in the linked file.
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Once again, we can't help but wonder if the developed world isn't learning from China, where any time a surge of volatility emerges, markets are just quietly shut down, or worse.
Whatever the case, we fully expect futures and cash markets to ramp in the time when this latest market has an "unexpected outage."