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Aye, but there's the rub - the inefficiencies create opportunity to skim
additional profits from the customer's pocket so those who reap the benefits of
the inefficiencies will fight automation and electronic trading tooth and nail.
As one who is relatively new to futures but not to trading, I am constantly
amazed at what is allowed to go on in the pits, the apparent lack of supervision
of the industry's shills by the CFTC, and the failure of automation to make the
kind of headway it has made in the major stock brokerages and stock exchanges.
Earl
-----Original Message-----
From: A.J. Carisse <carisse@xxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, May 09, 1998 3:24 AM
Subject: Re: Orders : Cancel - Replace (Don't do it)
>novice would not advantage him/herself of this option. If it does indeed
>create more problems than it solves, then the efficiency of the process must
>be improved if the level of service provided is going to be even adequate.
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