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Hmm, got this note on Friday regarding LeoWeb and Globex2:
"There has been some confusion as to what the advent of GLOBEX 2 means for
LeoWeb users beginning Sunday, September 20. In short, it means nothing.
There will be no immediate change in the available contracts or order types.
On a longer term basis, the LeoWeb/GLOBEX connection will be expanded
shortly to include the additional GLOBEX contracts, but the order types
available won't change then, either. GLOBEX 2 is a new trade matching system
that simply replaces an older platform. The new things you may have heard
about really apply only to actual GLOBEX terminals. Most of the other
things we've already been capable of, as evidenced by the Market orders and
Stops in the E-Mini contract."
I interpret this to mean that OCO and MIT orders will not be available via
LeoWeb, although they may be available via phone to broker with Globex2
terminal. Wonder if PMBe supports the new order types.
With all the LeoWeb problems and high volatility in the S&P, I started
trading the e-mini's a few weeks ago via LeoWeb and have been extremely
pleased with both fills (slippage nearly non-existent) and speed of
execution. I've been promised that the new LeoWeb version due in a week or
so fixes the failure to notify the customer when TOPS/Globex rejects an
order. When things settle down a bit, I'll return to the spoo but the e-mini
isn't bad.
Earl
-----Original Message-----
From: James F. Mazzulla <tagteam@xxxxxxx>
To: markbrown@xxxxxxxxxxxxx <markbrown@xxxxxxxxxxxxx>
Cc: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, September 18, 1998 10:09 PM
Subject: Re: I traded my 1st and last mini today
>Bet he didn't tell you this:
>
>"GLOBEX2 offers several other significant enhancements to
>the current system. Traders now can use market, stop limit,
>one-cancels-other (OCO), and market-if-touched (MIT) orders.
>They can also make a request for quote (RFQ) at whatever
>quantity specified and continue passing orders to each new
>trading session by using good-till-cancelled (GTC) and
>good-till-date (GTD) qualifiers."
>
>Kick off is Sunday at 5:30pm (CDT).
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