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Thanks for explaining the XFund contract, John. I heard a little about them
at the FIA Expo last month and was disappointed to hear they'll be pit
traded. I think the CBOT should have put them on a/c/e. I like the
control, speed, and fills on Globex and a/c/e.
Your post was the first I've heard of a fixed $300 bid-asked spread. If the
XFunds are pit traded where there are lots of buyers and sellers, how is the
spread fixed at 3 ticks? What if someone wants to bid or offer within the
spread?
What is the motivation for your shadow traders? To see if they can
outperform the CBOT's stars ala the Wall Street Journal's Dartboard?
Aaron Schindler
P.S. Good luck on the NFA election. When will the results be in?
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