|
PureBytes Links
Trading Reference Links
|
Dan,
Short answer is the elevation in blood pressure!
I don't know what will happen which is why I was reading through the rules.
Unfortunately, the rules don't shed much light on the subject other than to
give impression that, should the order book not be cleared, that there will
be a ton of busted trades.
When Globex went down, I had order working to sell 908.50. I haven't
bothered to send in a cancel because the network is down and it won't be
processed until Globex comes back up. I don't mind if I'm filled, although
it would be great to be filled higher. I don't expect that will happen since
I think that the book will be cleared. I have another order parked which I
will release when a) I know that the order book has been cleared and b)
Globex has reopened.
By clearing the order book, I mean that the PTB at Globex decide to simply
start over with no orders. This would mean deleting all orders in the Globex
computers and probably all resting Stop and Market orders in broker
computers. Keep in mind that only Limit and Stop Limit orders are held in
Globex computers. Other order types are hosted on broker computers and
released to Globex as the quote stream warrants.
If anyone has any better information on how a startup will be handled, would
be great to see it.
Earl
----- Original Message -----
From: "Dan C" <dan.c@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, May 01, 2003 11:30 AM
Subject: Re: [RT] Re: CME GLOBEX down
> Earl,
>
> At the risk of looking stupid:
>
> EarlA wrote:
>
> > I was just reading through the Globex rules and regulations which can be
> > accesses at http://www.cme.com/get/support/globex_policies.cfm. I don't
know
> > how this will be handled, however my guess is that they will clear the
order
> > book and require that all orders be re-entered. The alternative would be
a
> > mess.
>
> What does clearing the order book mean? Greatfully, I was not in a
position, but
> suppose I was. Lets say for the sake of discussion, I was short at 904.50
just
> prior to outage and I had a stop at 905.50, and the inx.x is up about
909.50what
> would one expect other than an elevation in Blood Pressure?
>
> Dan
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Make Money Online Auctions! Make $500.00 or We Will Give You Thirty Dollars for Trying!
http://us.click.yahoo.com/KXUxcA/fNtFAA/uetFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|