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OW!
I hope people that have chosen to exclusively use electronic trading or CUBS
have made arrangements for being able to execute their trades through a phone to
a person, hopefully near or in the pits. Trading through CUBS until it becomes
finished technology [and I hold reservations about Globex II until it is trading
for a period of time and accepts all order types and performs as flawlessly as a
good phone clerk on days like yesterday [not perfect, but at least as good as a
good phone clerk] makes no sense to me. You might get in and not be able to get
out. There is no way to manage your risk.
This is truly bad for all involved. I hope they improve quickly under Globex II
and I hope people understan now why it is important to have backup methods for
executing orders in place.
Best,
Tim Morge
Michael Stewart wrote:
>
> Reply from Lfg
>
> >In all likelihood, we have reached the volume limits of the current
> >software. As we have indicated back in June, the new CME software for
> >CUBS is to be rolled out mid to late September. In the meantime, we
> >will make arrangements to take certain orders OFF the CUBS device.
> >Expect details by Monday.
> >
> >Charles
> >
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