Nanex Research

Nanex ~ 12-Sep-2013 ~ Gold Futures Halted

On September 12 at 2:54:05, approximately 2000 gold futures contracts traded in a second, sending the price down just over $10 and causing a circuit breaker to trip, which shut down trading for 20 seconds. That is the longest halt we have recorded in a widely traded futures contract. A closer look at the data reveals this was most likely from one large order to sell at the market.

The next day, Gold again dropped $10 in a second, but on 2200 contracts and there was no halt.

1. December 2013 Gold (GC) Futures Depth of Book (how to read).

2. Zooming in on the drop and showing the trading halt.

Nanex Research