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Open outcry certainly has it's drawbacks as well. I don't know what the
up-time is on the E-Mini, but I would guess it is better than 97%. Each
method has it's pros and cons.
On the rare occasions when the Mini is not available you can use the DJ
contract or the full S&P. If I were in a position in the Mini and unable
to exit as described this morning, I would look to use the DJ or full S&P to
hedge my position thereby locking in a profit/loss (+/-) and then unwind it
once the Mini came back online.
Just a thought...
-----Original Message-----
From: Intel55@xxxxxxx <Intel55@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, December 03, 1998 5:08 PM
Subject: Re: E-Mini
>In a message dated 12/3/98 8:50:10 AM Central Standard Time,
>comfut@xxxxxxxxxxxxx writes:
>
><<
> For all of you in favor of all electronic trading........The e-mini system
> is down.....the minds at the cme are trying to figure out what to do
> next.............
>
> Beautiful for those that need to exit a position............
>
> Maybe open outcry is here to stay.....don't sell those seats, yet........
>
>
> Tom
> >>
>It was very amusing for the E-mini traders on the open today. I guess at
the
>ding of the bell, the E-mini pooped out. They made an announcement to the
pit
>and a bunch just laughed. I guess they are adding a bunch of memory to the
>system right know to handle more "hits per second." There may be even some
>individuals slowing down the system deliberately. Anyway it is the Euros
which
>run the CME (based on revenue), along of course with the brokers. If some
>system were to take the Euros away from us, then good bye exchange. What
they
>need to do in the mini is make an internet web interface so you can trade
>through the Merc on the computer. Or hey sell electronic
>memberships....hmmmmmmmmm look at the volume of the mini. INCREDIBLE. Now
just
>for a moment think what would happen if we had MORE price points (maybe 00,
>.20, .40, .60, .80, 00 ......or maybe just .10 like the big) and you were
able
>to trade larger. The contract would explode. THE mini will work out fine in
>the future, but the brokers that run the exchanges obviously do not want
it.
>Once the mini is working faster and more efficiently, maybe like the new
Eurex
>or Liffe's Connect, the contract and electronic trading will become the
>dominant trading platform.
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