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Talking about "busted"......when is the CME going to do something useful
with that incredible fee income stream they are raking in........
like tracking the big traders and then placing a FILTER on # of contracts
placed in the order above 3 standard deviations from the normal contract
volume of that trader.
I think they can do this....but their brains are "busted".
> -----Original Message-----
> From: Abhijit Dey [mailto:omegalist@xxxxxxxxxx]
> Sent: Tuesday, July 15, 2003 11:03 AM
> To: Omega-List
> Subject: Re: Trades below 996 busted
>
>
> > I have a question that could be considered a newbie question. When the
> > exchange decides to "bust" all trades below 996, what exactly does that
> > mean? Does it mean all trades below 996 will now have a price of 996, or
> > does it mean it's as if the trades never happened.
>
> It's like those trades never happened.
>
> > What if you were able to
> > get long at, say, 994 and then you sold it later at 1000. Does that mean
> you
> > never bought it and this morning you are short at 1000 as it
> gaps to 1009?
>
> That's exactly right - you are short at 1000; the trade at 994 "never
> happened".
>
>
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