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You can't approximate the rapid electronic fills of the e-mini in trading the
full S&P on a consistent basis. If you have a look in the recent omega list
archives ftp://ftp.eskimo.com/u/j/jimo/, you'll find a lot of worthwhile
discussion on e-mini Vs S&P, fills, pits, electronic trading. The CME is working
on upgrades to all of the exchange's electronic systems including CUBS/TOPS
which are linked to broker systems such as LEO and things should get better
sometime this fall. I've gotten market fills in seconds and waited close to an
hour for confirmation on limit orders I knew had been filled by looking at my
T&S.
Earl
-----Original Message-----
From: LARRY MCBRIDE <RBUQ67B@xxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, July 10, 1998 9:25 AM
Subject: Fills on the Big S&P
>-- [ From: Larry McBride * EMC.Ver #2.5.3 ] --
>
>Would someone mind explaining to me how to best approximate the rapid
>electronic fills of the e-mini contract in trading the full size S&P?
>The objective is to trade with close stops, which presumes that you know
>whether your entry order was filled or not. I'd like to be able to run
>TS and some order entry system on my home PC at the same time and be in
>tight control of my positions.
>
>Are you always at the mercy of the floor, which seems to mean that it
>could take you 20 minutes to definitely know if and where you've been
>filled, while with the e-mini this is virtually instantaneous? I've
>seen the Leo system operate for the e-mini and this seems ideal, but was
>told even here it can sometimes take a long time for fills to come back
>for the full sized contract. I'd use multiple e-minis except for the
>commission disadvantage.
>
>What is the best approach for quick feedback on the big S&P for both
>limit and stop orders?
>
>Thanks for any thoughts on the subject.
>
>Larry McBride
>
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