cbot vs ecbot

Discussion in 'Ag Futures' started by pacific, May 1, 2007.

  1. pacific

    pacific

    I'm trading wheat on the ecbot.

    The same product is traded on the cbot (floor based) and ecbot (electronic).

    I watch the opening range, high/low figures closely, but there are 2 different sets of number.

    Which is more "dominant" cbot or ecbot ?
     
  2. The ECBOT is. Yesterday 45,972 Wheat traded on the screen vs. 26,778 in the pit.

    Most spread business still goes to the floor. I'd reckon 15,000 of that pit biz was spreads or outright back months.

    I trade both venues and the fills are great in each. A couple of months back while placing an options order with the floor (SUPER tight markets in Corn opts) I also put in 5 Bean sales with the pit. Lo and behold I was filled on a 1 tick print HOD. I might not have been filled on ECBOT.
     
  3. having access to both is great. i have also been filled in the pit at a price that wouldnt have happened in ecbot. i only trade 5 lots so the pit broker does a really good job.do you know who IB uses as their pit broker?:)
     
  4. katesdp

    katesdp

    Corny McKorn

     
  5. pacific

    pacific

    For me, I need to focus on only one - based on your feedback, looks like ecbot has the higher volume.

    Also, I guess in the long run, the floor based cbot would be phased out - as has happened in so many other exchanges.

    So from now on, it's just the ecbot for me.
     
  6. Beware eCBOT -- today my stop on oats on ecbot was hit in a 2% up move in under a minute. Was it "real"? No....the pit moved up a little but nowhere near what ecbot did.

    I'm not sure if I should go back to the pits and let them run my stops or not. Damned if you do, damned if you don't....
     
  7. was that the 7 pt move near the close?(july)
     
  8. Yeah, I assume it was a large buy order that just ran through all the stops. Whether it was a deliberate stop run I don't know, but either way it sucks...

    <img src="http://img407.imageshack.us/img407/1625/zowr4.png">
     
  9. Pretty thin volume in oats a very easy to get pushed around.
     
  10. I saw where the pit only moved a couple of cents during that spike.

    Thin, electronic markets are prone to cascading stops.

    What's often described as a "fat finger" is usually just stops auto auctioning through the other side of a limited book.

    We all saw the $5 move after the close in CL a month or so ago.

    Up until a few years ago cascading stops of ridiculous proportions were less then rare in ES, NQ and YM. (i.e. the 600 pt YM move around the 4th of July in '03)

    Be wary with stops in these thin electronic markets.
     
    #10     May 10, 2007