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<DIV><FONT color=#000000 size=2>Peter:</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>You're right, trading futures through Globex is a big
plus. I can't wait to see the regular S&Ps trade on Globex during
regular trading hours (like the E-mini is now). But Electronic Order Entry
in open outcry markets still has it's problems. You can get your order in
to the pit faster, and you can cancel and cancel-replace faster, and you usually
get your fills faster, but the order is still filled by open outcry, which has
it's problems.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>By the way, I'm not against open outcry. There are some
benefits that open outcry markets have over purely electronic
markets.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Mark Morrison</FONT></DIV>
<DIV><FONT size=2>Professional Market Brokerage</FONT></DIV>
<DIV><FONT size=2>mmorrison@xxxxxxxxxx
</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Peter M. Beckwith <<A
href="mailto:capstone@xxxxxxxxxxxxxxx";>capstone@xxxxxxxxxxxxxxx</A>><BR><B>To:
</B>RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR><B>Date:
</B>Wednesday, March 24, 1999 9:57 AM<BR><B>Subject: </B>Re: Rescinded
Fills<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 size=2>Out of curiosity, wouldn't or doesn't Globex
and the Electronic Order Entry alleviate this problem to some extent.
Since the rescinded fill is more of a administrative error, I would think
that trading the futures through Globex would be a big plus.
</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Any comments??</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Peter M
Beckwith</FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Wed Mar 24 09:59:15 1999
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Subject: Gen: Books for Sale
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<DIV><FONT color=#000000>Still spring cleaning! Here's what I
got:</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><EM>New Market Timing Techniques: Innovative Studies in Market Rhythm and
Price Exhaustion</EM></DIV>
<DIV>by Thomas DeMark $35.00</DIV>
<DIV> </DIV>
<DIV><EM>Bull, Bears & Millionaires</EM></DIV>
<DIV>by Robert Koppel
$15.00</DIV>
<DIV> </DIV>
<DIV><EM>The Compleat Day Trader</EM></DIV>
<DIV>by Jake Bernstein
$20.00</DIV>
<DIV> </DIV>
<DIV><EM>Fibonacci Applications and Strategies for Traders</EM></DIV>
<DIV>by Robert
Fischer $25.00</DIV>
<DIV> </DIV>
<DIV><EM>Martin Zweig's Winning on Wall Street</EM>, revised
edition $7.00</DIV>
<DIV> </DIV>
<DIV>All books are in very good condition. Priced at half price and
shipping included.</DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000><BR><A
href="mailto:linda@xxxxxxxxxxxxxx";>linda@xxxxxxxxxxxxxx</A><BR>Climb the
mountains & get their glad tidings: Peace will flow into you as sunshine
into flower; the winds will blow their freshness into you & storms their
energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000></FONT> </DIV></BODY></HTML>
</x-html>From ???@??? Wed Mar 24 08:31:44 1999
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From: "Peter M. Beckwith" <capstone@xxxxxxxxxxxxxxx>
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Subject: Re: Rescinded Fills
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<DIV><FONT color=#000000 size=2>Out of curiosity, wouldn't or doesn't Globex and
the Electronic Order Entry alleviate this problem to some extent. Since
the rescinded fill is more of a administrative error, I would think that trading
the futures through Globex would be a big plus. </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Any comments??</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Peter M Beckwith</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Wed Mar 24 10:56:58 1999
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From: Jim Hamilton <hamiltnj@xxxxxxxx>
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Subject: Re: Rescinded Fills
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Jack Bicer & RealTraders:
I have never heard of a rescinded fill before and I am not a new to futures
trading although I am new to the RealTrader Group. I also trade the S&P and
have had price changes of a couple ticks in one direction or the other but
nothing like this. Price changes that I verified in time & sales and were
reasonable. It sounds like the broker is trying to "dump his out trades".
All firms and locals have an account to cover and track out trades because
it is a way of life on the floor. Out trades are primarily due to
communication error in or around the pit. If 2 or 3 brokers in the pit have
a communication problem you should not have to pay for it.
If your broker, Rosenthal Collins/Timberhil, will not help resolve this
trade, I would ask them for a package to file a complaint with the NFA and
CFTC. They are required to supply this package and all related information
such as floor brokers name or number, ticket number and time stamps.
To the comment by Ketayun, that someone is trying to discourage private
trader from the market, I have never seen any evidence of this. In fact, I
have seen much more evidence that the members of the exchange want to
encourage trader/investors of all sizes.
If this was me I would fight this. Keep us posted on this situation.
Good Trading,
Jim Hamilton
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