Investors to sue Moscow Exchange over stoppage of WTI oil trading - page 9

[Реter Konow]

I have two assumptions about what happened, and both are very simple:

1. A technical malfunction occurred, orders were not accepted and positions could not be closed.

2. the super position balance of the GC required his direct intervention and was corrected by purposeful manipulation of the exchange mechanisms and siphoning off money from traders sitting in unprofitable positions.

Not facts. Only speculation.

[Alexey Navoykov]

Реter Konow:
The presence of a central counterparty indicates that traders' bids (buyers and sellers) are not brought together between them, but between them and a third party. That is, the buyer buys from the central counterparty, not the seller, and the seller sells not to the buyer, but also to the central counterparty. The existence of this character in exchange trading, allows for the opening/closing of buyer and sellerpositions independently of each other.

No. CC acts only as an intermediary for financial obligations between the parties. i.e., Petya owes Vasya not directly, but through an intermediary (Petya owes 10 rubles to CC, and CC owes 10 rubles to Vasya). So if Petya (or Peter) is unwilling/unable to fulfil his obligation, it is no longer Vasya who will go to him with a soldering iron to collect the debt, but the central counterparty.

[Реter Konow]

Alexey Navoykov:
No. The CC only acts as an intermediary for financial obligations between the parties. That is, Petya owes Vasya not directly, but through an intermediary (Petya owes 10 rubles to the CC, and the CC owes 10 rubles to Vasya). So if Petya (or Peter) is suddenly unwilling/unable to fulfil his obligation, it is no longer Vasya who will go to him with a soldering iron to beat out debts, but the central counterparty.

Yes, yes...)) You make me laugh. In today's market, where money is numbers and the balance changes in the plus range of the account and, in an extreme case, is automatically covered by margin, someone, "won't want" to pay money and uncle counterparty will sort it out.))

Remember the '90s? You'd better get to the bottom of this before you talk nonsense.

[Alexey Navoykov]

Реter Konow:

Better get your head around the subject rather than talking nonsense.

Okay, what is there to argue about at all with a complete ignoramus, both in mathematics and stockbroking, and in programming... I won't waste any more time.

[Реter Konow]

Alexey Navoykov:

OK, what is there to argue about at all with a complete ignoramus, both in mathematics and stockbroking, and in programming... I won't waste any more time.

Well, well...))

[Dmitiry Ananiev]

trades were closed because the expiry date was approaching!

[Реter Konow]

There is a lot of information about exchanges, markets, clearing and other things on the internet. It is difficult to understand and find a clear formulation for the actual question. However, I have found confirmation of my basic points on Wikipedia.

All the basic information about the central counterparty is outlined herehttps://ru.wikipedia.org/wiki/Центральный_контрагент:

Central counterparty

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Acentral counter party(CC;Englishcentral counterparty ) is afinancial market infrastructure organisation that takes on the credit riskof the counterparty, i.e. the risk that afinancial market participant defaults on its obligation to delivermoney ora financial asset ^[1]. The central counterparty acts as an intermediary between the parties to the transaction:the seller for the buyer and, conversely,the buyer for the seller, who replace their contractual relationship with each other with similar contractual obligations with the central counterparty.

SZZ. I am aware that from a professional point of view, my knowledge is limited and my judgement is primitive, but that does not mean I am wrong in the main. I am not an expert in exchange nuances, but I am smart enough to understand that the existence of a Central Counterparty is of great importance to a trader's "coordinate system". In my view, it fundamentally changes the system of trading in the derivatives market - in particular, settlement futures. I believe that one should take into account the Counterparty's "super position" and its balance in one's strategies and decisions.
What comes next is up to everyone...

[Roman]

Peter, many people just don't read carefully or don't think about what they are reading about at all.

Forum on trading, automated trading systems and testing trading strategies

Investors will sue Moscow because of the WTI trading stoppage

Roman, 2020.05.03 14:58

The counterparty is the stock exchange itself.

Moscow Exchange Group comprises PJSC Moscow Exchange, which operates Russia's only multifunctional exchange platform for trading shares,
bonds, derivatives, currencies, money market instruments and commodities.
The Group also includes a central depository(NCO National Settlement Depository JSC ) and a clearing centre (NCO NCC (JSC)),
acting as a central counterparty on the markets, which enables Moscow Exchange to provide a full range of trading and post-trading services to its clients.

In addition to trading services, Moscow Exchange Group offers clients a full range of clearing and settlement and depository services.
Clearing services are provided to bidders by Non-Banking Credit Organisation Central Counterparty National Clearing Centre (Joint Stock Company). (Joint-Stock Company )(NCC (JSC)),
which acts as a central counterparty on all markets of Moscow Exchange.
NCC (JSC) is the only qualified CC in Russia, this status was granted to it by the Bank of Russia in 2013,
and since 2014 NCC (JSC) is also a systemically important central counterparty.

[Yury Stukalov]

how about this

08.05.2020 12:08

Trading on the Stock Market has been temporarily suspended

At 12:08 a.m. Moscow time trading on the Stock Market has been suspended. Reasons are being clarified. The time of resumption of trading will be announced additionally.

We apologize for any inconveniences.

[CHINGIZ MUSTAFAEV]

There's no waving of fists after a fight.