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It appears the CME are releasing TOPS 11.5 and CUBS 2 shortly which I was
told should be able to cope with record volume days and not die with one bad
order (as it does now) - heres an extract from an email I received from Dave
Dugan who's responsible for creating the new CUBS/TOPS system which is
supposed to work - At least the CME have hoisted on board that member firms
are not communicating to their customers...
{snip}
1. To communicate more effectively to firms and customers, not only of our
programs to shore up reliability issues which have impacted us in the past,
but as a way to promote demand/pull from customers through the FCM on newly
engineered solutions like CUBS2. I will put together some material with
Systems Liaison (works with firms) and Corporate Communications (for
external marketing purposes) which:
- Counters some of the poor press we are getting
- Summarizes actions taken to date to enhance our reliability
- Provides an overview of board support and programs both on the quality and
systems capacity / expansion side
- Highlights CUBS2 launch and what this technology offers in terms of
reliability, performance, and faster fills to customers via the speed fill
facility.
This weekend, we are releasing TOPS release 11.5, which is solely a quality
/ reliability focused software release. We are all hopeful that this
change, together with our brokers moving toward CUBS2, significantly uptick
our perceived (and actual) quality and reliability of electronic order flow
systems.
The CUBS2 solution is an answer to much of the reliability issues of the
past.
Further Action Points:
Determine how we can effectively get firms to pass on CME updates /
information to its customers.
Re-check on pace/progress of Tom Pelling, LFG Broker, on CUBS2 training
Update Corporate Communications, Systems Liaison and others on when (Lfg)Tom
Pelling will go live with CUBS2, and update on availability statistics and
findings on CUBS2. Also will inform If/when other brokers go live on CUBS2.
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