Nanex Research
Nanex ~ 30-Oct-2013 ~ ISE Option Outage
Update: The ISE issued
this press release later in the day.
On October 30, 2013, the ISE options exchanges (ISEX and Gemini) had 2 outages at the
same time. Maybe now would be a good time to bring up the fact that option quoting has
spun out of control. Take a look at these metrics. When there
are 600,000 option quotes from one stock in 1 second, and few trades, there is a serious
price discovery issue for everyone processing option data. Maybe that is why the ISE
failed this morning.
Outage times:
| Exg |
Start |
Stop |
| ISEX |
9:40:09 |
9:43:21 |
| GEMI |
9:40:28 |
9:43:07 |
| ISEX |
9:55:03 |
9:55:52 |
| GEMI |
9:54:35 |
9:56:06 |
1. Chart of all equity and index option trades color coded by reporting exchange between 9:35 and
10:12 on October 30, 2013.
Chart only shows prices between 0 and 100 for clarity. Bottom panel shows number of
trades in each 2 second interval.
2. Charts of trades from just one options exchange.
Nanex Research
Inquiries: pr@nanex.net