The Babe's Trades

[riverbabe]

Bats

Streetinsider.com@Street_Insider

Apparently the IPO for BATS $BATS opened at $15.25, but quotes are hard to come by and some systems are showing trades at $0.038 $$

[riverbabe]

Level II showing ask at 0.13. Heck order in for 10,000 X 2. And 2 more for 0.05

[riverbabe]

this is kind of exciting BATS halted.

Streetinsider.com@Street_Insider

BYX Exchange has declared self-help against BATS BZX per Rule 611 of Regulation NMS.Routing to BATS BZX has been suspended as of 11:07:04 $$

[billyjoe]

River,
Is it really possible BATS .138 ? I personally hold no grudge agin them for a bad AAPL trade. This makes me think twice about the Facebook IPO.

-------------billy

[riverbabe]

Not even going to try to interpret this...

Rule 611 of SEC Regulation NMS

Overview:

Executions in equities will sometimes be listed as R6, which is short for Rule 611 of SEC Regulation NMS. This condition code indicates that the execution(s) in question is not subject to trade-through rules. R6 trades are given an SEC exemption.

Rule 611, which is the Trade Through Exemption of SEC Regulation NMS, is very lengthy to cover in detail. Parties interested in reading the rule in its entirely should type "SEC Rule 611" into an internet search engine. This is the portion of the document that is pertinent to IB traders, in a nutshell:

Typically the trades involved are a multi-component trade involving orders for a security and a related derivative, or, in the alternative, orders for related securities, that are executed at or near the same time. The SIA (Securities Industry Association) notes that the economics of a contingent trade are based on the relationship between the prices of the security and the related derivative or security, and that the execution of one order is contingent upon the execution of the other order.

The bottom line is that when a trade is ruled R6 the SEC has granted a trade-through exemption. This means that these execution reports do not affect the resting orders in-between the market at the time, and the R6 execution. For example, the real market is quoting 10.50 at 10.51, and an execution is reported at 10.90. This execution was given an R6 exemption. A sell limit order at 10.75 would not be executed because the 10.90 execution was given an R6 status.

[billyjoe]

In other words, 10,000 shares at .0384 wouldn't hold up as a valid trade. Maybe a few cents but not a 99% difference.

-----------billy

[billyjoe]

River,
That was a close one. Now back to 15.25. I was about to sweep out my boiler room. It's real warm down there but now you can stay in your cozy condo. Any IPO you invest in shows promise in my book.

-------------billy

[billyjoe]

River,
Have you ever watched "The Shark Tank" or the Canadian version "The Dragon's Den"? I always think of you when the inventors are pitching to the venture capitalists. Would you be the Inventor or the Capitalist? Just 2 days ago on the Canadian version (channel 23 CBET on my cable) they had a dispute over an expired patent and Home Depot Canada vs. the US.


-------------billy

[riverbabe]

Bats update

BATS (BATS) Implodes on IPO Day

FREE Breaking News Alerts from StreetInsider.com!

March 23, 2012 11:55 AM EDT
BATS (OTC: BATS) had the worst possible IPO debut any manager could come up with in their worst nightmare.

BATS, a stock exchange, choose to brings its stock public via its own exchange Friday. That's when the problem started.

At 10:45AM - the IPO for BATS opened $15.25, the stock was halted shortly after amid widespread system issues. On other exchanges, the stock was trading as low as $0.038.

At 10:48 - the BATS system issued an alert saying it is currently investigating system issues trading in symbols ranging A through BF.

At 10:57AM - a bad trade on BATS triggered a trading halt for NASDAQ-traded Apple (Nasdaq: AAPL).

At 11:07AM - BATS BYX Exchange declared self-help against BATS BZX per Rule 611 of Regulation NMS. Routing to BATS BZX was suspended as of 11:07:04 ET.

Shares of BATS remain halted heading into the noon hour.

[riverbabe]

What fun, what fun. Ask now showing 15.75.

Streetinsider.com@Street_Insider

BATS $BATS Expects Trading to Resume in A - BFZZZ Symbols at 12:50AM ET

17m

Streetinsider.com@Street_Insider
BATS $BATS has said its stock is halted until further notice

[riverbabe]

1m
Streetinsider.com@Street_Insider
BATS $BATS IPO is scheduled to take place at 1:20PM ET

[billyjoe]

Still not back at 1:25. What a PR nightmare. I feel really bad for you, River. I hope it wasn't a big investment.

----------billy

[riverbabe]

Still not back at 1:25. What a PR nightmare. I feel really bad for you, River. I hope it wasn't a big investment.

----------billy

I'm not at all worried billy. These exchange IPOs usually go ballistic eventually. Not too many shares. Everything AOK.

[riverbabe]

River,
Have you ever watched "The Shark Tank" or the Canadian version "The Dragon's Den"? I always think of you when the inventors are pitching to the venture capitalists. Would you be the Inventor or the Capitalist? Just 2 days ago on the Canadian version (channel 23 CBET on my cable) they had a dispute over an expired patent and Home Depot Canada vs. the US.


-------------billy

My daughter Stephanie really wants to go on The Shark Tank with her fabulous invention. Just need to get that patent filed.

[riverbabe]

All BATS trades canceled

Just got a call from the broker. ALL BATS TRADES TODAY BY EVERYBODY ARE CANCELED. Have to start new next week. Well, an exciting day anyway.