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Thank you so much for this information...
As I recall, there was mention of some automatic execution software in a discussion I was having with some people about the improvements that are coming to Globex (next month?). I don't recall the details and didn't follow-up but isn't the CME planning a massive expansion of Globex - like increasing the TPS tenfold next month? As I recall someone was talking about using (existing?) automatic order entry software as a way to maintain liquidity at that speed and/or provide a means for exchange members to act in a "market maker" capacity...
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May I ask, are Globex terminals very popular? It would seem to me that having one could be quite useful... And the price seems right. Basically, it sounds to me like they're giving you a computer for $1500 (the application fee). What am I missing here? Are there some other "fees"? Is it hard and/or expensive to get an ETH permit?
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With a Globex terminal, you can trade directly into the system, without going through your broker's software or calling your broker or anything? Is that right? Or does the terminal just give you a view of the order book, you still place your trades yourself?
All the best,
OM
---- you wrote:
> Hey,
>
> Globex2 runs on a Compaq Deskpro. The model differs if you are on the floor
> or in an office. It is a speed issue. The connection to the exchange
> consists of a 56k, ISDN, and an analog connection. The farther away from 30
> S. Wacker the slower it is.
>
> The front-end that the CME uses is called GL. The web site is
> www.gltrade.com .
>
> Where did you here that people are trading automatically? One individual in
> California got busted for this. The reason you are not able to do this is
> that the trade engine can only handle 45 trades per second (TPS). This
> person got caught because of the amount of volume he was doing. You will
> get caught if you attempt this!!
>
> Jack Sallen
>
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