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Hi Ira,
> Who do you think would be the first to go to the E-mini? Probably the floor
> traders.
Doesn't matter if I'm already there with my stop order. The floor
brokers are a day late and a dollar short if they are reacting to the
news. That's what I love about Globex. It doesn't play favorites. But
actually, my comment was directed more at the bit about the floor broker
fumbling with his deck to dig out your order. Not relevant to the
current discussion. Sounds like fills were still pretty bad (although
it's not too surprising, I guess) if Rich's order was in the Globex
system and he took a 15.5 point hit. I was just trying to get a sense of
how well people got filled as I didn't have an order working then and
it's good to know these things.
Rich, here is what I'm showing for ticks between when your stop was
elected and your fill price was touched. This is crummy BMI data so, no
doubt, it's missing a number of ticks. There were a LOT of trades in
there so, if I were you, I'd be pressing my broker to make sure they
aren't queuing your stop orders. It sure looks that way to me.
> I checked with my broker and he tells me
> that they use the FIX API and the way stops work for globex is they are
> sitting in a globex order management computer and when the stop is hit
> it is sent in as a limit with 20 points above or below your price.
That doesn't tell me if it's sitting in a CME computer or a Best
computer. BIG difference. If you want to be first in a price shock, your
order needs to already be at the CME.
--
Dennis
"Date", "Time", "Close", "Volume"
01/03/2001, 13:14, 1298.500000, 1
01/03/2001, 13:14, 1298.500000, 1
01/03/2001, 13:14, 1298.500000, 5
01/03/2001, 13:14, 1298.500000, 1
01/03/2001, 13:14, 1298.750000, 3
01/03/2001, 13:14, 1298.750000, 1
01/03/2001, 13:14, 1298.750000, 5
01/03/2001, 13:14, 1298.750000, 1
01/03/2001, 13:14, 1299.000000, 4
01/03/2001, 13:14, 1299.000000, 3
01/03/2001, 13:14, 1299.000000, 1
01/03/2001, 13:14, 1299.000000, 3
01/03/2001, 13:14, 1299.250000, 2
01/03/2001, 13:14, 1299.250000, 4
01/03/2001, 13:14, 1299.250000, 2
01/03/2001, 13:14, 1299.250000, 5
01/03/2001, 13:14, 1299.250000, 1
01/03/2001, 13:14, 1299.250000, 5
01/03/2001, 13:14, 1299.250000, 5
01/03/2001, 13:14, 1299.250000, 1
01/03/2001, 13:14, 1299.250000, 5
01/03/2001, 13:14, 1299.250000, 5
01/03/2001, 13:14, 1299.500000, 1
01/03/2001, 13:14, 1299.500000, 10
01/03/2001, 13:14, 1299.750000, 2
01/03/2001, 13:14, 1299.750000, 1
01/03/2001, 13:14, 1299.750000, 1
01/03/2001, 13:14, 1299.750000, 5
01/03/2001, 13:14, 1299.750000, 1
01/03/2001, 13:14, 1299.750000, 5
01/03/2001, 13:14, 1300.000000, 10
01/03/2001, 13:14, 1300.000000, 1
01/03/2001, 13:14, 1300.000000, 14
01/03/2001, 13:14, 1300.250000, 2
01/03/2001, 13:14, 1300.250000, 1
01/03/2001, 13:14, 1300.500000, 1
01/03/2001, 13:14, 1299.750000, 5
01/03/2001, 13:14, 1301.750000, 1
01/03/2001, 13:14, 1302.000000, 1
01/03/2001, 13:14, 1302.000000, 7
01/03/2001, 13:14, 1302.500000, 5
01/03/2001, 13:14, 1302.500000, 2
01/03/2001, 13:14, 1302.000000, 1
01/03/2001, 13:14, 1302.750000, 2
01/03/2001, 13:14, 1303.500000, 4
01/03/2001, 13:14, 1303.500000, 1
01/03/2001, 13:14, 1303.750000, 1
01/03/2001, 13:14, 1304.500000, 1
01/03/2001, 13:14, 1304.750000, 1
01/03/2001, 13:14, 1304.750000, 1
01/03/2001, 13:14, 1304.750000, 1
01/03/2001, 13:14, 1304.750000, 2
01/03/2001, 13:14, 1304.750000, 1
01/03/2001, 13:14, 1305.000000, 1
01/03/2001, 13:14, 1305.000000, 2
01/03/2001, 13:14, 1305.000000, 1
01/03/2001, 13:14, 1305.250000, 1
01/03/2001, 13:14, 1305.250000, 1
01/03/2001, 13:14, 1305.500000, 1
01/03/2001, 13:14, 1305.500000, 1
01/03/2001, 13:14, 1306.000000, 1
01/03/2001, 13:14, 1306.000000, 1
01/03/2001, 13:14, 1306.000000, 1
01/03/2001, 13:14, 1306.000000, 1
01/03/2001, 13:14, 1306.750000, 4
01/03/2001, 13:14, 1308.750000, 2
01/03/2001, 13:14, 1309.000000, 2
01/03/2001, 13:14, 1309.000000, 1
01/03/2001, 13:14, 1309.000000, 1
01/03/2001, 13:14, 1309.000000, 1
01/03/2001, 13:14, 1309.000000, 8
01/03/2001, 13:14, 1309.000000, 1
01/03/2001, 13:14, 1309.000000, 1
01/03/2001, 13:14, 1309.500000, 1
01/03/2001, 13:14, 1309.500000, 1
01/03/2001, 13:14, 1309.500000, 1
01/03/2001, 13:14, 1309.750000, 1
01/03/2001, 13:14, 1306.250000, 1
01/03/2001, 13:14, 1310.000000, 15
01/03/2001, 13:14, 1312.000000, 1
01/03/2001, 13:14, 1312.000000, 3
01/03/2001, 13:14, 1311.000000, 1
01/03/2001, 13:14, 1310.500000, 4
01/03/2001, 13:14, 1310.500000, 1
01/03/2001, 13:14, 1312.500000, 2
01/03/2001, 13:14, 1312.500000, 1
01/03/2001, 13:14, 1312.500000, 1
01/03/2001, 13:14, 1313.500000, 3
01/03/2001, 13:14, 1314.000000, 1
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