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At 02:35 AM 4/10/99 , I4Lothian@xxxxxxx wrote:
>any date for that, but assume it is in the works). The biggest headaches
>this week have come from hardware and software problems with the E-mini S&P
>and the TOPS gateway to Globex2. Everytime that happens, open outcry gets
>renewed and deserving respect.
Looks like self sabotage. Especially after what Oracle said about the database
design being flawed. Eurex don't seem to have any problems. Haven't heard
anything about LIFFE having problems and given they are going for LIFFE
Connect, I suppose their setup is stable.
One might make a case that if Americans are really serious about electronic
trading systems, they can get it right.
>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.
>**** One of the things that makes a successful market is the proximity and
>ease of laying off risk on related markets, i.e., spreading. One reason the
>E-mini has been more successful than the Dow is that the CBOT did not get the
>Dow transports or utility contracts. With successful contracts in those
>contracts nearby volume in the Dow industrial futures would be much greater,
>IMHO.
At my clearing firm, the marketing efforts is on spot.
I am not sure if that the situation elsewhere but if it is the FX pits are
going
to stagnate because of this.
>***** That will vary from firm to firm. I have had some prospects interested
>in getting Globex2 terminal and they have eventually signed up with local
>trading group at firms handling floor traders, rather than with my operation.
> The rates they were able to negotiate were pretty darn cheap and comparable
>to floor rates.
My question wasn't clear.
Are there fees charged by Matif for rights to CME Globex locals to trade
their products thru Globex2? Rough how much are they, if any?
Regards
Andrew
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