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At 05:55 AM 6/22/98 GMT, James F. Mazzulla wrote:
>On Mon, 22 Jun 1998, Robert wrote:
>>The mini S&P is doing very well and no pit, no locals thus no third party.
>
I stand corrected I was under the impression the mini S&P was all
electronic so why would you need a pit. The pit in this case could that be
a place use to enter orders for the locals wanting to trade it. A pit by
definition is a place to have open out cry is that going on as well? If so
then locals would surely be involved and it would not be an all electronic
trading as advertised.
Go see Minneapolis exchange then tell me no more than the MM, got a bunch
of MM standing around need speculators.
>Doing very well = correct.
>No pit = nope, there =is= an pit for the E-Mini.
>No locals = totally inaccurate........there's a bunch.
>
>>The speculator is whats needed for liquidity without him the current forum
>>couldn't survive nor could the locals are the commercials.
>
>Sure they're "needed" but no more so than MMs.
>
>Best regards,
>Jim
>
>
>
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