Bitcoin Cash Started Trading on GDAX - Rockets to $9500 within 5 minutes

Bitcoin Cash started trading on GDAX at ~8:20 EST on 12/19/2017. The order book shows orders lining up buyers and seller at about $3300 but within minutes of opening it rocketed higher to $5000 and then even higher to $9500 on very light volume until GDAX essentially halted transaction again.  Meanwhile the spread at other exchanges was extremely large with BCH still trading at $3300-$3450. Talk about arbitrage opportunities.

BCH on BitFinex is trading at a $6,000 discount to BCH on GDAX pictured below

BCH opens for trading on GDAX

Clearly something is amiss at GDAX. They posted an update at ~8:24 EST:

GDAX BCH Status

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