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I talked to my broker and called the floor. The floor will not take stop orders,
at least my clearing firm won't. Maybe your broker keeps them and when an alert
is sounded they enter them as market orders, or your firm has a better system
then mine. Ira
RAY RAFFURTY wrote:
> -----Original Message-----
> From: I4Lothian@xxxxxxx <I4Lothian@xxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Friday, August 28, 1998 9:50 AM
> Subject: Re: Globex Markets
>
> >Stops on the e-mini are available for the entire time the market is open.
> >There is a pilot program started a couple of months back whereby stops were
> >working on a separate server from Globex and would be automatically entered
> as
> >market orders when the stop price traded. They work better during the day
> >when there are plenty of trader constantly entering orders, than in the
> middle
> >of the night when the market can find some air pockets. You might want to
> >talk with your broker and make sure your clearing firm is participating in
> the
> >pilot program (I don't know if it has been expanded to all clearing firms
> >yet). BTW, you can't cancel/replace a stop to a market order like you can
> >cancel/replace a limit to a market order. You must cancel the stop, then
> >enter the market order in two separate actions.
>
> Hi John,
>
> It is my understanding that Globex stops will be fully implemented
> some time in September. Perhaps the good Dr. OEX can enlighten us further
> on progress.
>
> Good luck and good trading,
> Ray Raffurty
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