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I always thought that by having a contract restriction, fills were made
worse because it didn't pay off and wasn't feasible for large firms to jump
in to arbitrage when the EMini had a large spike because of the 30 Car rule.
Wouldn't lifting the contract limit incent big players to arb the EMinis to
stay tighter with the big contract, and thus add more liquidity and price
stability even when lots of stops were hit on the Minis?
Patrick White
----- Original Message -----
From: <Intel55@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 18, 2000 8:00 PM
Subject: [RT] Re: E-Mini Nasdaq Order Size Restriction to be Lifted
The e-mini SP is next. They will NOT lift the restriction yet, but they are
talking about raising the limit to 100 e-mini SP's. The 100 limit should be
a
shoe-in. The reason they will not take it off completely is due to the fact
that the mini SP cannot handle the size yet. A 500 lot SP market order,
which
is 2,500 eminis, would return a god aweful fill right now.
Should be interesting to see what happens to the naz pit now...... no more
outtrades for the brokers, which I hear was a driving force behind this. The
broker who a few weeks ago filled a 3700 limit buy stop order at 3800 oppss
ON 200 HUNDRED LOTS!!! Double OPPPSs ..
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