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If this is true or not I can't say. It was sent to me by a friend and I
thought that it might be of interest to the group. Ira.
Subj: Fw: (fwd) Re: Electronic Trading
Date: 6/28/99 3:24:15 PM Pacific Daylight Time
FYI
sorry, but the e-mini s&p is not ready for the big time and the merc
knows it. some ex-s&p 1 lot floor traders are now trading 25 and 50
lots on e-mini terminals and can easily blow thru stops creating large
multi-handle e-mini price spikes while the big s&p barely budges.
TJ
Just set up an indicator that alerts you when there is a large
discrepency between the S&P and the EMINI and jump in there to take
the other side of all or part of that large order on the EMINI. If
you're quick, you may be able to do enough of these off-floor arbs to
make it worthwhile, depending on the volatility.
Lifting the order limit would make the EMIni move even faster (if
that's possible) but would also allow more of the large firms to jump
in and eliminate the large discrepencies that sometimes occur between
the big S&P.
Patrick
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