Futures markets are not circuit breaker protected, and trade 24hours globally. The MF Global fallout should be a clear indication that no-one is interested in protecting the integrity of futures traded positions.
Open market exchange hours (retail) have some limit operations (circuit breakers), but only for some 'transparent' market orders during stated daylight market hours.
Rapid liquidity operations will be likely to occur out of hours in the futures markets, resulting in large opening 'gaps' of the open trading retail operations.
Mainly equities focus at this point, but would not limit this to just equities.
