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Anyone have an idea of how much commish rates on ETP trades would run
through a typical clearing firm? Any direct experience with this system?
Having the book of bids / asks would be a big plus from the ETP vs. the
typical brokerage.
Patrick White
-----Original Message-----
From: sptradr@xxxxxxxxx <sptradr@xxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Wednesday, February 17, 1999 12:08 PM
Subject: Re: S&P NOTICE
>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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