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In a message dated 98-07-24 10:38:38 EDT, shazlewood@xxxxxxxxxx writes:
<< Can anyone enlighten us to the advantages/drawback/opportunities and
lunacies of trading on the Globex?
Any good sources of info out there?
Cheers,
- Stuart
>>
Globex is the future of trading. I am a member at the CME and a local in the
S&P 500 pit and all the talk is using GLobex2 starting in Sept. The E-Mini on
Globex allows fills in a second with no out trades. Imagine placing an order
and getting a fill back within 2 seconds. In the pit there can be numerous
markets , whereas on Globex there is just one market. The CBOT voted today to
go with side by side electronic trading. They do not care about Cantor
anymore. They are going electronic. Instant fills from anywhere in the world.
Globex allows you to get your trades done when you want them. Look at Liffe
and DTB, look what happened to the Matif. Globex is cheaper and more efficent.
The banks do not care about the brokers, they care about costs. The big banks
could dump the exchanges and set up their own clearing firms to clear
electronic. Look at the seat prices at the CBOT and CME. They are dumping b/c
people are unsure of how the CME and CBOT will fare in a world of electronic
trading. Globex is the future platform for trading due to lower costs and more
efficiencies.
IMHO......
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