Well ZH is famously apocalyptic however given that they covered this potentiality last year in an earlier article I'd wager this is more than fear mongering. Article seems legit to me. The degree to which it impacts the markets we'll find out Edit- Speaking of it looks like Credit Suisse is taking a big hit from the XIV meltdown (it's their product) https://www.zerohedge.com/news/2018-02-05/credit-suisse-tumbles-fears-massive-xiv-loss