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Hi,
Not a flame, just that I need my opinion to get reality check everynow and
then.
I would look to the Matif incident to set the example.
Electronic vs outcry side by side without any restriction on size on the
electronic
system, poor pit, they can trade by themselves. I can see where the big SP
will be
if more than 30 lots can be transacted on the Eminis.
A lot smaller than where it is already now. I think exchanges should focus
their
energies along the lines of LIFFE Connect. Jump dump the pit and watch volume
grow like with the Bunds, now the meanest biggest baddest contract the
world has
ever seen, and focus on getting more people all over the world to trade
your contracts
and make the systems better. ADT says the Eurex interfaces and network
speed is
superb cross Europe amd better than Globex2.
I would think that HUUs would mean is that electronic terminals are going
to get
smaller. Terminals for trading need not be a PC. I think it be faster to
enter orders
using a stylus type of pen. Trading terminals should have touch screens. Touch
touch touch, I am long or short or out. Given liquidity will flow thru the
electronic
system, soon enough they will be stools at the pit so people can sit down while
they look at their HUUs. This will be sure more sociable than in most
trading rooms
setups. And people could come in and sell hotdogs, as the traders sit on their
stools, point away with the stylus pens.
There should be little effect on liquidity unless they can beat the spread for
1 lag on the spot market. Most of the retail people at my clearing firm trade
the spot. You can get a machine at home with Comstock spot quotes for
SGD250 or about USD150 with live AFX.
I have a question. CME Globex locals can trade Matif products. How much
do they pay for this right?
Appreciate the update.
Regards
Andrew
>Word is that near the end of June HHUs will be going into the Eurodollar pit.
> This will allow locals to trade directly with the Globex side by side
>Eurodollar market.
>By comparison, bonds at the CBOT trade side by side with Project A, but there
>is no HHU at the CBOT and no direct link to the closed Project A system.
>Chalk one up for the CME. Lets see if it works and what effect it has on
>liquidity.
>Regards,
>John J. Lothian
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