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Let me my try my hand at a "Mark Brown" type response... Are you suggesting
you are going to share with us this new found knowledge or are you priming
the pump for interest in your paid projects or creating a reason why some
lists should reinstate you ... :-)
You would never let someone off the hook so easily with the comments you
have made so as students of the master of uncovering the shrill should we
expect no less from you? :-)
Hope all is well... and that you are having a great day
----- Original Message -----
From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
To: "Omegalist" <omega-list@xxxxxxxxxx>
Sent: Sunday, April 07, 2002 1:46 PM
Subject: Now they tell Me
> Hello ,
>
> I just can't keep my mouth shut, so what's new. I just spent two days
> with one of the five largest traders in the SP pit. A guy who as of
> 1996 had over 100 consecutive winning months in the SP's. I have to
> say it was the most reveling discussion of honest "ask what you want"
> I will tell you. I have even gotten out of some of these guys. I could
> never write a book and tell any of this, it was just fascinating to
> me. It gave me a deeper insight into the trading industry regulatory
> bodies as well. Putting on my shades now.
>
> In recent years he and many others have been transitioning to of floor
> trading. I was told that initially he fought the electronic trading.
> Now it's of course obvious that it's here to stay and the current
> question is how far will it go? Meaning one day we may wake up and
> there is no data vendors and no clearing services but the exchanges
> themselves. I don't particularly like this idea myself, but I think
> his suspicion is dead on.
>
> What brought about our meeting was a general common interest in
> mechanical systems trading. I feel a genuine concern for the multitude
> of traders who are leaving the pit's daily wondering how they will
> stay in the business and make a living off the floor. Especially since
> there is a huge consolidation going on at the same time with the
> industry in general adds a complication to the mix.
>
> Since 1996 this SP local has been putting into mechanical form what he
> was doing successfully in the pit. A task which is not to be taken
> lightly I found out. It's very interesting that the old way of doing
> business "which frankly I had forgotten about" is still alive and
> well. Do you think this guy would simply pick up the phone and call me
> or use the one second fast email that we all take for granted?
>
> No he and a protege armed with a note pad flew down here and and we
> talked face to face about our passion of trading. It was not one way
> exchange as I had thought it may be. It was no holds barred, free
> exchange of ideas with all the cards out on the table. He asked
> questions I normally would never answer and he answered questions that
> would ruin his edge if ever published. I could not have been more
> delighted with the meeting of on floor off floor combatants. Who laid
> out their weapons for each to examine.
>
> I walked away with many new "mandatory" project ideas, and I hope that
> he did the same. It was good for me anyway! I sincerely hope that
> other floor traders and brokers find their way to stay in the trading
> business which they know and make a living for their families.
>
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