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Theoretically, TOPS to Globex for E-mini's ought to be "instantaneous".
Is it? Thanks.
Larry Lewis
-----Original Message-----
From: I4Lothian@xxxxxxx (reply to: I4Lothian@xxxxxxx)
[SMTP:I4Lothian@xxxxxxx (MIME) (actually from:
owner-realtraders@xxxxxxxxxxxxxx)]
Sent: Thursday, September 17, 1998 3:21 PM
To: realtraders
Subject: Re: ZAP, LFG, TOPS, CUBS
In a message dated 9/17/98 1:42:53 PM Central Daylight Time,
gmkramer@xxxxxxxxxxxx writes:
<< Dont waste your time!!! Fills suck, execution sucks, CUBS is always
down.
I tried it for 1.5 weeks and closed my account. You will be sorry if you
try
it!!! >>
As a broker with TOPS on my desktop computer I send orders into
Electroinic
Clerk terminals all day long. They have greatly improved the order flow
into
and out of the front months in grain, bond and dow futures. We also
route
orders to a CUBS terminals in Lean Hogs. The Electronic Clerk and the
CUBS
are vary similar in functionality.
The problems you experienced with LFG CUBS at the CME may have more to do
with
the volume of the orders flowing through that terminal and the volatility
of
the markets. At the CME, to my knowledge, there are only two CUBS
terminals
in the S&P futures. There are some political reasons there are not more
terminals deployed. Because of the limited number of terminals (Lind
Waldock
has the other), the volatility and the volume through these terminals, I
think
you are getting a skewed perspective of their performance. Politics
tends to
have that effect on economics.
I can attest to the value of these order routing and order management
tools.
Not all firms are utilizing them as much as others, but there are now
about 75
EC terminals at the CBOT versus 5 about 18 months ago.
I would say don't blame it on the technology. Take a deeper look at why
it is
not working. It could be the skill of the pit operator. It could be the
volume. It could be the market volatility.
Internet trading systems route there orders through TOPS to the EC and
CUBS
terminals. We use the CME Internet Order Routing system as a platform
for
traders to route orders to our network of order terminals.
I would say Internet trading is most efficient when trading the E-mini,
or
with a properly managed and operated EC or CUBS terminal.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
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