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Kevin wrote:
No, there are differences with the type of orders that MERC brokers are required
to take and CBOT and other exchanges are required to take. There are times
during the day [when a fast market is declared] or that the Merc may declare, as
in last fall, when some order types are disabled or changed. But in general,
some of the tools the Merc give you to trade with are not available BY RULE on
other exchanges. Again, your broker may still offer these order types for you,
however.
Tim Morge
>
> > Date:
> > Thu, 7 May 1998 19:30:42 -0700 (PDT)
> > From:
> > Richard Josslin <oldfogey@xxxxxxxxxx>
> > 4. So what I'm hearing is that there is no rigid rule, that the rules are
> > flexible.
> >
> > Payton: That's right. There's no rule that guarantees you a fill
> > under all circumstances, even during a "non-fast" market.
> >
> > Old presumptions die hard. Ouch!
> >
> > Sincerely,
> >
> > Richard Josslin
>
> I think that is the case at all exchanges, including the CME. It's just
> that at the CME market forces have demanded that the executing floor
> broker make the trades good for you, or they lose the business. You will
> note, that at times of extreme volatility in the S&P, like last fall,
> they announced to the world that everything was "not held".
>
> KJL
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