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Gary,
What if you are a big trader or trade for others and have an order to buy 50
orders at 1150? I don't believe you will be filled at 1150 and it may be
a few minutes to get filled if there is no offers at all. Whereas if you put
your order in the floor in the regular S&P pit, you can get filled almost
instantly. Many traders believe that the way of the future is the electronic
ways like Globex, I see that as possibly worse than it is now with the pits
taking "extra" for taking the opposite side of the trade. What is going to
happen when everyone wants out of their trade at a certain price and there is
no ask/bid prices in the electronic market? I believe it may become much
worse, just like when AT&T had to breakup, my phone bill went up.
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