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I live in Chicago so anything that happens on the Merc &
CBOT is big news. For those of you who don't remember, the
FBI (I think it was them, if not another govt agency) wired
some agents & sent them into the pits to trade. Came up
with criminal charges against several traders. The Merc's
currency pits were a major target. I've traded commodities
for about 40 years and I can definitely tell a difference
the investigation made. Much cleaner operations in Chicago
now. Remember, these traders are still no saints, even now.
The New York crowd is another matter. They keep their
quotes delayed 30 minutes where Chicago delays only 10
minutes. Real time quotes cost a bundle and add pressure to
my trading I have elected to use delayed quotes. So I'm at
a disadvantage with the NY contracts. Also fills are
poorer. I've got some silver contracts now but I generally
try to stay away from NY.
Bob Doeden
Chicago
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