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Been ruminating on this one for a few days but can't decide what to make of
it. Perhaps I'm about to lose yet another grain of innocence but if the
Globex order book is electronic using FIFO matching at the same price, then
why must we watch the upstairs broker? If the book at 1130 bid was 10
contracts (1, 4, 2, 3 in order of receipt) and there were only 3 available
at the ask (1, 2), I would expect that the 1 would be filled, the 4 would
get a partial of 2, and the 2 and 3 would go unfilled. Am I missing
something important here?
Earl
-----Original Message-----
From: Jim McConnon <Jmcconno@xxxxxxxxxxxxx>
To: he96@xxxxxxxxxxxxxx <he96@xxxxxxxxxxxxxx>; omega-list@xxxxxxxxxx
<omega-list@xxxxxxxxxx>
Date: Tuesday, November 10, 1998 7:45 AM
Subject: Re: SP on Globex
>The Globex maintains a phone line to answer Time and Sales questions:
>312 456 2391. They are helpful. Unfortunately, in this situation they
>confirmed that a 1 and 2 lot traded at 1130 but they are unwilling to
>provide the time in which they were entered or the clearing house that
>executed them. This means that the "unable" that we have come to know in
the
>pits (where it is really in the broker's pocket), may be alive on Globex.
>Now, it's the upstairs broker who you must watch.
>
>Jim
>-----Original Message-----
>From: hans esser <he96@xxxxxxxxxxxxxx>
>To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>Date: Tuesday, November 10, 1998 8:22 AM
>Subject: Re: SP on Globex
>
>
>
>INTERESTING POST ! I just got privatey (name withheld below) - and I answer
>to the list, to see if others know different or better :-)
>
>> I was also a 1130 bid ( for 1 ) entered at 9 pm ny time. I was "unable".
>
>it ticked a SINGLE time there - that does not mean anything about the
>quantity -
>but if JOEL says 1 traded - so probably was one ......
>
>Im PRETTY sure the big order was not in at the time - JUST MY best GUESS,
so
>must have been another guy be in front of you.......could be possible
>
>> I
>> was surprised until I saw Joel's post. Do you know how to get time and
>> sales on Globex?
>
>ask your broker - NOW
>
>or NEXT day on CMEs web ........but cant see, how that will help you, we
>know it
>traded, we dont know WHO got the fill
>
>> Am I correct in assuming that orders at a price are filled in the
sequence
>placed?
>
>yes
>
>rgds hans
>
>
>
>
>
>
>> -----Original Message-----
>> From: hans esser <he96@xxxxxxxxxxxxxx>
>> To: Joel Geier <jgeier@xxxxxxxxxxxxxxxxxxxx>; omega-list@xxxxxxxxxx
>> <omega-list@xxxxxxxxxx>
>> Date: Tuesday, November 10, 1998 8:04 AM
>> Subject: Re: SP on Globex
>>
>>
>>
>> > Just a curiosity, something I have never seen before. I am watching
the
>> > SP500 on globex at 5 am new york time.
>>
>> I think you mean 0611 Ny time - thats when that trade happened
>>
>> > The market just ticked down to its low of the day at 1130 for one
trade,
>> > and I saw that there was 529 lots on the bid at 1130.
>>
>> What silly axxx has hit that bid ? <g>
>>
>> If the bid was there, you could have seen before as it didn't need to
tick
>> a the price, if that was the best bid at the time
>>
>> > I guess this is someone manipulating the market to support it at this
>> > level. Is this common, it is the first time I have seen a bid or offer
>> > on globex greater than 20-30 lots.
>>
>> You're right, its uncommon for that time - usually GLOBEX gets bigger
>> around 0800 NY time......just before bonds open
>>
>> > Waiting to see of they are still there next time down.
>>
>> I have seen several times things like this come up and DISAPPEAR <g>
>>
>> .....whats the chances for such a bid to get filled at that time of day -
>> ZERO......
>>
>> I assume someone tries to push the market, the same happens in other
>> markets as well and MOSTLY in electronic markets as its anonymous and
>> nobody knows who it was and why.
>>
>> rgds hans
>>
>>
>
>
>
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