Nanex Research
Nanex ~ 22-Aug-2013 ~ Quote Outages Before Blackout
Well before the Nasdaq blackout at 12:20 EDT on August 22, 2013, there were significant
quote outages in large stocks, some lasting 20 minutes. However, trades continued as
if there were no problems: which is clearly a violation of Reg NMS trade through price
protection. It is impossible for an investor to know if they received the best price
if there are no best quotes. Below are just a few (out of many) examples. See also
Partial Blackout,
Partial Blackout Statistics, Amazon's 2.5
Minute Outage, and Quote Blast Loops (which
explains the likely cause of the blackout).
Download a
google spreadsheet of all symbols with trades but no quotes
for 15 seconds or more: here's a sample (4th column shows number of seconds without
quotes).
Nanex Research
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