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John,,
dittio I was confused also. I am talkin Emini orders here. I really don't
my stop order to be safely tucked in my server, waiting for a transmitted
price to enter my machine, for the machine to make the calculations and then
to broadcast back to the exchange servers with an order to sell.
If I run PING to to LeoWebs server (as an example). A DSL ping takes about
.125 to .20 seconds, a 56K modem takes about double.
So I have price coming to me, I have price order being broadcast out, then I
know when its busy at the exchange server my order request is put in a
buffer, I have waited over 3 to 4 seconds in very busy markets to get a
confirm back from a market order from Leoweb.
So what is the bottom line about where limit and stop orders are held?
Regards,
Don
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, March 24, 2001 8:50 AM
Subject: Re: [RT] Globex2 Stops & PATS System
> 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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>
>
>
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>
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