|
PureBytes Links
Trading Reference Links
|
Well, I'm not going to beat a dead horse. I am
speaking after being in actual planning meetings about
this contract's potential future.
Let's assume it's dead after Sep 08 and if we get a
pleasant surprise, good for all of you that trade it.
But as I said, and I'll stick with this as fact since
I have seen the original contract and been in the
meetings, the CME has the right to keep listing new
contracts IF they add open interest. If there is no
open interest added, the contract expires--at any
point, not just Sep 2008.
These press releases are each side putting their spin
on the situation: ICE needs to get you all excited
about the Russell and hope people trade it there [not
likely] and the CME has to make it look like they
moved on because they have a new and improved product
[Much as I am a CME guy, I haven't seen a new and
improved broader index future I'd trade my money with.
If I see one, I'll yell...The search is continuing for
one in my opinion].
Unless someone asks me a specific question about the
rights or this contract, I'll just go cook turkey and
leave it alone.
For those of you that celebrate, Happy Thanksgiving!
If you do not, have a great week.
Tim
--- Andrew Nopper <nopper@xxxxxxxxxxxx> wrote:
> Seems the CME has a slightly different opinion. To
> quote from their webpage:
> "Russell Contractual Listing Rights Expire after the
> September 2008 Contract
> Month. CME Group will list Russell 2000 futures and
> options through the
> September 2008 contract month. After that date,
> Russell products will no
> longer be accessible through CME Globex."
>
http://www.cme.com/trading/prd/equity/emini-russell2000.html
>
>
>
> It scares the hell out of me when these electronic
> exchanges malfunction,
> Globex rarely so anymore, ECBOT more so and ICE .
> well.. Seems that we don't
> have much time to get a new contract up and running
> and well established.
>
>
>
> Andrew
>
>
>
>
>
> From: realtraders@xxxxxxxxxxxxxxx
> [mailto:realtraders@xxxxxxxxxxxxxxx] On
> Behalf Of Timothy Morge
> Sent: November 20, 2007 8:21 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: RE: [RT] E-mini Russell 2000
>
>
>
> Yes, it is well known within the community of
> exchanges that ICE paid at least 4 times what they
> should have, even if they would have been in a
> bidding
> war.
>
> But as I said, the CME OWNS the right to keep the
> Russell 2000 futures listed as long as the CME
> wishes.
> Period. Neither Russell or ICE have a say in the
> matter. It is entirely up to the board of the new
> CME
> Group whether they de-list or whether they do no
> de-list. The key is IF the CME allows open interest
> to
> begin to accumulate in a Dec 08 contract.
>
> But the CME Group has the right in perpetuity--as
> long
> as there is open interest--to keep listing and
> trading
> the russell 2000 futures and minis.
>
> Regarding ICE...poor electronics. Some of you may
> have
> had the pleasure of reading Richard Dennis' full
> page
> piece in the Chicago Sun Times. As a long-time large
> volume trader that uses literally all the exchanges
> in
> the world for his exposure, his opinion that ICE
> wishes they were only 2 years behind the technology
> that currently runs Globex. Some IT consultants in
> the
> exchange world feel it would take ICE 3-4 years to
> ramp up to anything near Globex's quality and
> ability
> to handle volume of any measure.
>
> The Russell had already been become less liquid--not
> as measured by total volume or open interest but by
> price spikes [when other US index products were not
> even moving]. ICE is not going to be a good thing
> for
> those of you that are stuck on the Russell. A
> gentleman lost a war and took a fat wad of cash and
> threw a hissy fit. And that, sadly, is what will
> probably be written on the tombstone of the russell
> futures when we all find a better, deeper broad
> index
> to trade. What's it going to be? I do not know. Wish
> I
> did.
>
> Good trading, all.
>
> Tim
> --- Andrew Nopper <nopper@xxxxxxxxxxxx
> <mailto:nopper%40xplornet.com> >
> wrote:
>
> > According to Russell/ICE, when the current
> licences
> > expire they won't be
> > renewed. As for the CME, they'll be delisting the
> > Russell 2000 at the expiry
> > of the Sept '08 contact. From my point of view,
> it's
> > a mistake because I
> > don't think that the ICE platform is as stable as
> > Globex and volume may
> > never reach current levels. As for the CME, they
> > probably made the right
> > choice - $50 Million is a lot for something that,
> > according to Tim Morge, is
> > worth a lot less.
> >
> >
> >
> > Andrew
> >
> >
> >
> >
> >
> > From: realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> > [mailto:realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> ] On
> > Behalf Of RB
> > Sent: November 20, 2007 6:14 PM
> > To: realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> > Subject: Re: [RT] E-mini Russell 2000
> >
> >
> >
> > Sorry.
> >
> > I was talking about another email. Something about
> > a mistake for dropping
> > it,
> >
> > and about they can do what they want.
> >
> > It was my understanding that they had to drop it
> by
> > a certain date, because
> > ICE owns it. So it probably had little to do with
> > what they wanted or
> > didn't want.
> >
> > But, I guess they didn't want it, because they
> > didn't buy it. That may or
> > may not have been a mistake.
> >
> >
> >
> >
> >
> > ----- Original Message -----
> >
> > From: Andrew Nopper <mailto:nopper@xxxxxxxxxxxx
> <mailto:nopper%40xplornet.com> >
> >
> > To: realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> >
> > Sent: Tuesday, November 20, 2007 8:09 AM
> >
> > Subject: RE: [RT] E-mini Russell 2000
> >
> >
> >
> > No, no mistake, I trade it on the CME each and
> every
> > day. Yes, ICE has had
> > its version for a few months now, but volume is
> > around 700 contracts per day
> > compared to the CME version which averages over
> > 200,000 per day.
> >
> > Andrew
> >
> > From: realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> > [mailto:realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> ] On
> > Behalf Of RB
> > Sent: November 19, 2007 10:29 PM
> > To: realtraders@xxxxxxxxxxxxxxx
> <mailto:realtraders%40yahoogroups.com>
> > Subject: Re: [RT] E-mini Russell 2000
> >
> > You may be mistaken.
> >
> > I believe ICE got it months ago.
> >
> > ----- Original Message -----
> >
> > From: Mark Simms <mailto:marksimms@xxxxxxxxxxx
> <mailto:marksimms%40verizon.net> >
>
=== message truncated ===
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/realtraders/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/realtraders/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:realtraders-digest@xxxxxxxxxxxxxxx
mailto:realtraders-fullfeatured@xxxxxxxxxxxxxxx
<*> 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/
|