Bobl 1/2 Tick

Surely they keep track of the queues so a bit of order exists!..

 

isn't it nice to see the bund quickly go back to five and seven hundred up on the depth as soon as a few big market orders come in. Is this a truer reflection of the market as these dog s##t algo players pull there systems out? I hope they are getting ironed.

 

Couldn't agree more.They advertise themselves as providing this 'great' liquidity and really being a welcome addition to the market but as soon as it gets too choppy for them and they can't twist and turn the smaller traders the a$$holes switch them off.

With a bit of luck they've been hit on some chunky orders and will f**k off for good,but somehow I think they'll be back.

 

Do you think that with the summer credit turmoil, some of these algo accounts have been trashed?

 

Some have been trashed,most haven't been switched on.It's funny really,in the pits on busy days you would hear people saying'volatile day,did a lot of round trips',nowadays on a busy day the f**kheads who run these models actually SWITCH THEM OFF.

What does that tell you?I've never heard anything so crazy.On a busy day would a big local say'I didn't trade because it was too busy' They're the days a REAL trader is looking for.The Exchanges let these models in.They knew the consequences and now there is clearly such a lack of 'fresh blood' in the markets volumes are actually dropping,and will continue to drop.Who wants to trade against a machine.IT'S A GAME YOU WON'T WIN.

 

Eurex just carried out a review of the half tic move

9
Summary
- Last couple of months trading focus has been on short term
products (Euribor, Eonia, Schatz Swap spreads etc.) rather than
on duration
- European and US fixed income markets have both seen thinner
liquidity in the 5-, 10- and 30 year maturities
- Although the effects on the Bobl half tick are biased by the subprime crisis the following statements can be made:
– In terms of total trading volume the half tick has no significant effects so far
– It is likely that a certain part of the increase in adverse price movement in the Bobl is derived from the tick size reduction
– Significant volume shift has been observed from locals to algo traders
- Unlike to the tick size reduction in Schatz Futures in 2004 a significant volume
shift from locals (31% -> 17%) to algo traders (12% -> 31%) has taken place in the Bobl
- Investment bank‘s (including brokers) market share is down from 57% to 52%
– Situation in the Bobl roll market has improved significantly: on-exchange
trading share during the roll period jumped from 73% to 92%
- Next analysis will be done end of 2007

 

Any news analysis?

 

I can give you all the analysis you need -

Info for 2nd Jan 2008:

99.5 tick range with just 440,000 contracts traded

The numbers speak for themselves

 

Too true - it has become a trashy, illiquid contract - 199 prices traded, 440k - ridiculous!

Why am I still trading it?

 

to pay your clearer loads of bro....all those schatz/bobl traders must be getting chopped to pieces.