CHX
ChampionX Corporation
stock NASDAQ

ICYMI: DTCC declared a Market Disruption on June 29 \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1up1nyg/dtcnscc_market_disruption_event_june_29/)\] after Bank of England 🇬🇧 Emergency Borrowing had skyrocketed after GME Swaps expired \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1up7xzh/shorts_forced_to_choose_emergency_central_bank/)\] so shorts chose to hide their shorts by submitting an immense amount of "Erroneous Trades" which caused the DTCC Market Disruption Event. **August 3 (next Monday) is C35 after June 29!**
https://preview.redd.it/bfmeyrr6y6gh1.png?width=955&format=png&auto=webp&s=9392557efd7d753ecd2603303eaafaa583cc115e
This DTCC Market Disruption gets even weirder because the DTCC decided **NOT** to charge fees & interest on whoever owed them money for the Market Disruption Event \[[Me on X](https://x.com/WhatCanIMT/status/2075622799579004971?s=20), [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1usql2z/comment/owq17y7/)\]
[When has Wall St ever passed on an opportunity to slap someone w\/fees & interest?](https://preview.redd.it/yplo03idz6gh1.png?width=931&format=png&auto=webp&s=ac322c30bb843db37aa09af567c46efd6e92bcdb)
Yet, we can figure out that a DTCC Market Disruption is a [BFD](https://en.wiktionary.org/wiki/BFD) because when you search Google for the history of other DTCC market disruptions, we get a very interesting list \[[Me on X](https://x.com/WhatCanIMT/status/2075711208788025753)\] including:
* 2008 Collapse of Lehman Brothers \[[Wiki](https://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers)\] and the Great Financial Crisis \[[Wiki](https://en.wikipedia.org/wiki/2008_financial_crisis)\]
* Sept 11, 2001 Terrorist Attacks \[[Wiki](https://en.wikipedia.org/wiki/September_11_attacks)\]
* 2021 GameStop Sneeze 🤧
* 2012 "Glitch" by Knight Capital who imploded by losing $440M in 45 minutes (see, e.g., [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1ffadtt/day_3_knight_capital_and_virtu_i_figured_out_why/) and [SuperStonk](https://www.reddit.com/r/Superstonk/comments/r6l6rf/knight_brokerage_is_the_counterparty_that_made/))
https://preview.redd.it/nqlm3lmd07gh1.jpg?width=992&format=pjpg&auto=webp&s=205927a18c4cebb540a4d8b8021dee9a1b4abae2
# June 29 DTCC Market Disruption was HUGE
Quick Recap:
* A (single) participant firm submitted a massive amount of erroneous trades; enough to force the DTCC to declare a Market Disruption Event.
* Instead of pressing the ↩️ UNDO button (like they did when BRKA "glitched" \[1\]), the DTCC **completed settlement** the next day *after* trying all sorts of tricks, getting extensions from the Fed, rolling over the settlement balance, and imposing charges to NSCC Members for the added risk. *The DTCC* [*bent over backwards*](https://dictionary.cambridge.org/us/dictionary/english/bend-over-backwards) *and* [*went the extra mile*](https://www.merriam-webster.com/dictionary/go%20the%20extra%20mile) *to complete settlement for* ***erroneous trades****!*
* Then the DTCC **does not** slap the participant with any fees or charges? 🤨 Despite creating a MASSIVE disruption comparable to 2008 Great Financial Crisis, Sept 11 (2001) Terrorist Attacks, and the 2021 GameStop Sneeze? 🤨
# WHY? 🤔 (Extrapolating...)
* I think the DTCC *had* to complete settlement or else that participant submitting erroneous trades would have immediately failed.
* Which suggests that participant is [Too Big To Fail (TBTF)](https://en.wikipedia.org/wiki/Too_big_to_fail) and worth the extra effort to buy more time (i.e., C35).
* Not slapping the participant with fees then makes sense because they were already close to failure and they're TBTF.
* The people with the power to make this decision must be high up at the DTCC, and a quick look at the [DTCC Board](https://www.dtcc.com/about/leadership/board) shows members with ties to Citadel, Northern Trust, JPM Chase, UBS, Morgan Stanley, Barclays, Goldman Sachs, Bank of America, Nasdaq, and FINRA (amongst others) -- all familiar names here on SuperStonk.
# DTCC Market Disruption C35 Starts Next Week
While this deadline is certain, we have seen many ways they kick cans so don't expect MOASS Monday. **Last settlement day for trades before this deadline is July 31** (a GME Warrants Swaps Expiration \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1o1n9bj/swaps_on_warrants/)\] and when the 🐂💩 IGME Covered Call ETF on GME closes for liquidation \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1uvhmyo/igme_to_close_liquidate_731/)\])which means **July 30 is the last trading day** to ensure trades settle before whatever happens next week.
\[1\] Remember when BRKA glitched down to $185 from $600k on June 3, 2024 \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1d77ds5/mods_dont_delete_pls_brka_27_shares_went_through/)\]? So then it was **halted** and **trades reversed** \[[NYT](https://www.nytimes.com/2024/06/03/business/nyse-trading-glitch-berkshire-hathaway.html)\]
https://preview.redd.it/97lgzehg47gh1.png?width=1412&format=png&auto=webp&s=0b15c9e5e3e8bbbde8aafdd1788fd75d15143601
As it turns out, BRKA glitched on 6/3/2024 C35 after some pretty interesting events including DTCC showing quadrillions in derivatives, huge CAT Errors spikes (very high for that time though we've now seen bigger since), and CHX volume *the day after* [*Roaring Kitty returned with a YOLO update*](https://www.reddit.com/r/Superstonk/comments/1d6r5vp/gme_yolo_update_june_2_2024/) \[[Me on X](https://x.com/WhatCanIMT/status/1998905456912454047), [SuperStonk comment](https://www.reddit.com/r/Superstonk/comments/1pkvv3h/comment/ntob8sc/)\]
https://preview.redd.it/wlkndny677gh1.png?width=586&format=png&auto=webp&s=126f46471be3f53e94f9d670c723a573d64f44d8
With BRKA having gone FREE TO BORROW exactly T+3 before the "glitch" \[[SuperStonk comment](https://www.reddit.com/r/Superstonk/comments/1odpb4j/comment/nl19j9l/)\]

ICYMI: DTCC declared a Market Disruption on June 29 \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1up1nyg/dtcnscc_market_disruption_event_june_29/)\] after Bank of England 🇬🇧 Emergency Borrowing had skyrocketed after GME Swaps expired \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1up7xzh/shorts_forced_to_choose_emergency_central_bank/)\] so shorts chose to hide their shorts by submitting an immense amount of "Erroneous Trades" which caused the DTCC Market Disruption Event. **August 3 (next Monday) is C35 after June 29!**
https://preview.redd.it/bfmeyrr6y6gh1.png?width=955&format=png&auto=webp&s=9392557efd7d753ecd2603303eaafaa583cc115e
This DTCC Market Disruption gets even weirder because the DTCC decided **NOT** to charge fees & interest on whoever owed them money for the Market Disruption Event \[[Me on X](https://x.com/WhatCanIMT/status/2075622799579004971?s=20), [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1usql2z/comment/owq17y7/)\]
[When has Wall St ever passed on an opportunity to slap someone w\/fees & interest?](https://preview.redd.it/yplo03idz6gh1.png?width=931&format=png&auto=webp&s=ac322c30bb843db37aa09af567c46efd6e92bcdb)
Yet, we can figure out that a DTCC Market Disruption is a [BFD](https://en.wiktionary.org/wiki/BFD) because when you search Google for the history of other DTCC market disruptions, we get a very interesting list \[[Me on X](https://x.com/WhatCanIMT/status/2075711208788025753)\] including:
* 2008 Collapse of Lehman Brothers \[[Wiki](https://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers)\] and the Great Financial Crisis \[[Wiki](https://en.wikipedia.org/wiki/2008_financial_crisis)\]
* Sept 11, 2001 Terrorist Attacks \[[Wiki](https://en.wikipedia.org/wiki/September_11_attacks)\]
* 2021 GameStop Sneeze 🤧
* 2012 "Glitch" by Knight Capital who imploded by losing $440M in 45 minutes (see, e.g., [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1ffadtt/day_3_knight_capital_and_virtu_i_figured_out_why/) and [SuperStonk](https://www.reddit.com/r/Superstonk/comments/r6l6rf/knight_brokerage_is_the_counterparty_that_made/))
https://preview.redd.it/nqlm3lmd07gh1.jpg?width=992&format=pjpg&auto=webp&s=205927a18c4cebb540a4d8b8021dee9a1b4abae2
# June 29 DTCC Market Disruption was HUGE
Quick Recap:
* A (single) participant firm submitted a massive amount of erroneous trades; enough to force the DTCC to declare a Market Disruption Event.
* Instead of pressing the ↩️ UNDO button (like they did when BRKA "glitched" \[1\]), the DTCC **completed settlement** the next day *after* trying all sorts of tricks, getting extensions from the Fed, rolling over the settlement balance, and imposing charges to NSCC Members for the added risk. *The DTCC* [*bent over backwards*](https://dictionary.cambridge.org/us/dictionary/english/bend-over-backwards) *and* [*went the extra mile*](https://www.merriam-webster.com/dictionary/go%20the%20extra%20mile) *to complete settlement for* ***erroneous trades****!*
* Then the DTCC **does not** slap the participant with any fees or charges? 🤨 Despite creating a MASSIVE disruption comparable to 2008 Great Financial Crisis, Sept 11 (2001) Terrorist Attacks, and the 2021 GameStop Sneeze? 🤨
# WHY? 🤔 (Extrapolating...)
* I think the DTCC *had* to complete settlement or else that participant submitting erroneous trades would have immediately failed.
* Which suggests that participant is [Too Big To Fail (TBTF)](https://en.wikipedia.org/wiki/Too_big_to_fail) and worth the extra effort to buy more time (i.e., C35).
* Not slapping the participant with fees then makes sense because they were already close to failure and they're TBTF.
* The people with the power to make this decision must be high up at the DTCC, and a quick look at the [DTCC Board](https://www.dtcc.com/about/leadership/board) shows members with ties to Citadel, Northern Trust, JPM Chase, UBS, Morgan Stanley, Barclays, Goldman Sachs, Bank of America, Nasdaq, and FINRA (amongst others) -- all familiar names here on SuperStonk.
# DTCC Market Disruption C35 Starts Next Week
While this deadline is certain, we have seen many ways they kick cans so don't expect MOASS Monday. **Last settlement day for trades before this deadline is July 31** (a GME Warrants Swaps Expiration \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1o1n9bj/swaps_on_warrants/)\] and when the 🐂💩 IGME Covered Call ETF on GME closes for liquidation \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1uvhmyo/igme_to_close_liquidate_731/)\])which means **July 30 is the last trading day** to ensure trades settle before whatever happens next week.
\[1\] Remember when BRKA glitched down to $185 from $600k on June 3, 2024 \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1d77ds5/mods_dont_delete_pls_brka_27_shares_went_through/)\]? So then it was **halted** and **trades reversed** \[[NYT](https://www.nytimes.com/2024/06/03/business/nyse-trading-glitch-berkshire-hathaway.html)\]
https://preview.redd.it/97lgzehg47gh1.png?width=1412&format=png&auto=webp&s=0b15c9e5e3e8bbbde8aafdd1788fd75d15143601
As it turns out, BRKA glitched on 6/3/2024 C35 after some pretty interesting events including DTCC showing quadrillions in derivatives, huge CAT Errors spikes (very high for that time though we've now seen bigger since), and CHX volume *the day after* [*Roaring Kitty returned with a YOLO update*](https://www.reddit.com/r/Superstonk/comments/1d6r5vp/gme_yolo_update_june_2_2024/) \[[Me on X](https://x.com/WhatCanIMT/status/1998905456912454047), [SuperStonk comment](https://www.reddit.com/r/Superstonk/comments/1pkvv3h/comment/ntob8sc/)\]
https://preview.redd.it/wlkndny677gh1.png?width=586&format=png&auto=webp&s=126f46471be3f53e94f9d670c723a573d64f44d8
With BRKA having gone FREE TO BORROW exactly T+3 before the "glitch" \[[SuperStonk comment](https://www.reddit.com/r/Superstonk/comments/1odpb4j/comment/nl19j9l/)\]