|
PureBytes Links
Trading Reference Links
|
The most greedy and ugly piranah on the cme floor reside in the nasdaq pit.
That market would be dead in the water if it were not for the liquidity
provided from arbitrage with the NQ mini. A 10 point spread to line the
pockets of the piranah is something that the cme should not tolerate. I
welcome the time when the floor traders have to go upstairs and actually
compete with the rest of us instead of playing the ripoff game. They might
find trading is a bit more difficult than their present game.
Don
----- Original Message -----
From: "Andy" <ronin@xxxxxxxxxxx>
To: "Timothy Morge" <tmorge@xxxxxxxxxxxxxxx>; <frwd@xxxxxxxx>
Cc: "List, Omega" <omega-list@xxxxxxxxxx>
Sent: Wednesday, April 19, 2000 10:36 AM
Subject: Re: The ugliest rally...
> : My floor broker in the Nasdaq futures tells me that conditions are so
poor
> : today, he isn't even willing to trade for his own account. The off-floor
> : traders that normally trade 20-30 lots at a time are either trading 5
lots
> or
> : smaller now or are off the entire week because their children are off
from
> : school until Monday. And the larger CTAs that normally are always in the
> : markets have not been seen since last Thursday.
> :
> : It's very thin out there. Be careful if you choose to trade in these
> : conditions.
>
> Don't forget that some houses have raise the margin. CME's margin
> requirement is $38K for initial for ND while Refco/LFG and EDF Mann
requires
> $60K per contract for initial, $48K for maintenance. And then forget the
10
> point spread between the bid and ask, as well as it's only good for 10
> contracts. I know that the ND's have always been thin but this is
> ridiculous.
>
>
|