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
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