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Kim,
EFP stands for "exchange for physical". You deal in the cash market and
instruct the bank/broker to efp it into a futures contract. It is
transparent to you, but you get the supposed benefit of tight pricing in the
cash market. So, you execute in the cash market, but it is turned into a
futures contract at the cme or finex. I have always done better on globex.
If you want to do cross rates, you are probably better off dealing in cash
and efp'ing it into finex.
Mike
-----Original Message-----
From: Kim McAdams [mailto:kmcadams@xxxxxxxxxxxxx]
Sent: Tuesday, March 12, 2002 8:50 AM
To: Michael E Songer
Subject: Re: Trading on the Globex Market
Mike,
What do you mean by EFP?
Thanks,
Kim
----- Original Message -----
From: "Michael E Songer" <songer@xxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Tuesday, March 12, 2002 5:44 AM
Subject: RE: Trading on the Globex Market
> John,
> There is a lot of liquidity in globex. You may not see it on the screen
but
> it is there if you need it. I used to do 10,000 cars or more in an
evening
> in 500, 1000, 2000 increments. However, you need to watch the cash
because
> trading may be thin on the machine. if you need to do size, tell your
> broker to do a "Request for Quote" (a button on the terminal) and the
Globex
> guys will come back with a respectable price. I have had much better luck
> on Globex than EFP's.
> Mike
>
> PS. What is a TS system?
>
> -----Original Message-----
> From: John Lynch [mailto:kiwi_trader@xxxxxxxxxxxx]
> Sent: Monday, March 11, 2002 4:25 PM
> To: omega-list@xxxxxxxxxx
> Subject: Trading on the Globex Market
>
>
> I'm using a combination of automated long term TS systems an a short term
> channel violation to improve performance.
>
> I've found that this works well in day only comodities but the override
has
> trouble being profitable with currencies. The reason is the gaps - and
the
> way to fill them is to trade the 24hr globex market. I trade SF CU JY AD.
> So my question is:
>
> Does anyone have good or bad experience they'd share of trading in the
> globex market esp slippage?
>
> John
>
>
>
>
>
>
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