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Matt gave me permission to post this to the list. Earl
-----Original Message-----
From: MDZ <mzaner@xxxxxxxxxxxxx>
To: eadamy@xxxxxxxxxx <eadamy@xxxxxxxxxx>
Date: Friday, August 14, 1998 7:29 AM
Subject: Clerk getting backlogged
Earl,
The clerk can get backlogged for a few reasons. One, it is time-consuming to
get the attention of the opposing broker/market maker to find out who he is on
the trade. Two, the broker can fill hundreds of orders very quickly via open
outcry, and the physical typing of the trades by the clerk can take just a bit
longer, and with hundreds of orders piling up, the clerk has to be really good.
The last reason is volume. Since the S&P was cut in half in conjunction with
the popularity of Leo, the volume has way shot up. There is only one CUBS unit
for LFG (and only one for Lind in total), and we need more! Unfortunately, the
CME will not allow anymore until Globex2 comes out (Sept. 1). After that, CUBS
should work much smoother.
Hopes this helps.
Matt
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