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AFAIK, =anyone= will be able to get a Globex terminal
=provided= they obtain an ETH permit, sign the agreement,
pay the monthly fees for the terminal, and get a firm to
clear their trades. BTW, clearing firms can set the limits
you mentioned =now=.
In the future, I'm sure some FCMs will provide their
customers with terminals.......hey, less work for them!! The
point I was making, however, is that none of this is going
to be =free= unless you're doing an ungodly amount of
volume. In that case, the FCM will eat the cost of the
terminal because you'll be generating an ungodly amount of
revenue for them =and= the exchange (again, not exactly
=free=).
The foregoing assumes that things remain relatively
unchanged with respect to the products traded on the system.
If major products like the ED and SP go totally electronic,
I would expect fees to increase substantially. Further, that
might be the death knell for ETH permits.
Best regards,
Jim
On Sun, 21 Jun 1998 Tim wrote:
>Well, one project that I know of will actually allow you to have a terminal at
>your home or office that literally is an altered Globex II terminal--Altered in
>the sense that it has internal limits set by your FCM that only allow you to
>trade XX amounts of contracts and have XX open positions. When they are certain
>this technology is secure enough for them, they do expect to offer it to some of
>their accounts. This would be the electronic equivalent standing on the floor
>and trading. And no, to this point there has been no consideration of making
>people become limited members. These products are being developed because the
>clearing firms know the day will come when they are looking down the barrel at
>each other and at that point, thay had better be ready with good systems...or
>they'll lose their quality customers.
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