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I think the current "brokerage house" options for futures electronic
trading suck. For my time and money, Globex ETP's are the way to go now,
thus cutting the brokerages out of the loop. Get a permit, $25K T-bill,
clearing firm, and terminal and you're ready to trade anywhere in the world
(says CME). And when the system crap outs now and then, then phone the pit
to fire off your orders. Can't get any simpler than that!!!
I imagine this broker guy is thinking in terms of those stupid handheld TH
devices. Give me a break. That's as much electronic as a floor clerk
signaling in your order via hand signals after reading your orders from a
pitside printer.
I foresee Globex (or something similar) and pits trading side by side for
quite some time...pure electronic (sans handheld devices and hand signaling
floor clerks) and pure open outcry coexisting in some sort of symboitic
relationship...the best of both worlds.
TH
Robert W Cummings wrote:
>Noway any human in between the buyer and seller is a time tax to ET that's
>no longer affordable. Open outcry is no longer the fairness nor efficient
>way to trade futures. All one needs to do is check time of execution in
>stocks against futures its ridiculous.
John J. Lothian wrote:
>While you call for a revolution against open outcry, I see an evolution to
>>technologically enhanced open out cry is much more likely and palatable.
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