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John, I'm not sure if I'm confused or not. The first paragraph indicates
that stops are held on the user's computer with execution subject to the
vagaries of internet and computer reliability. The second indicates that
emini stops are held on exchange computers. Does this mean that the emini
stops are safely stored and tracked on exchange computers while non-emini
(e.g. CME globex currency and ACE bond) stops are held on the user's
computer only?
Earl
----- Original Message -----
From: <I4Lothian@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, March 23, 2001 3:09 PM
Subject: [RT] Globex2 Stops & PATS System
> Sometime back we had a lengthy thread about how different firms handled
stops
> on Globex2 and how the different methods rated. At the time I mentioned
that
> PATS Systems held Globex2 stop locally on the user's computer.
>
> While that is still true, it is not the complete story. PATS JTrader and
> Delphi resident application versions also route emini S&P and emini Nasdaq
> orders directly to Globex2 for stop limits or to the CME Order Manager
Server
> for regular stops.
>
> Those stops on the OM are actually or better limit orders set to a
throttle
> determined by the clearing firm member. For ED&F Man, the firm clearing
> trades for Price Group clients, that is set to 16 ticks on both mini S&P
and
> mini Nasdaq. It has been a long time since a stop has not been filled
> immediately, particularly since volume has exceeded 100,000 contracts per
day
> for both.
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