CME Globex moment of silence

Discussion in 'Wall St. News' started by ChkitOut, Sep 8, 2011.

  1. fyi..

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  2. I for one would be happy to observe a minute of silence. On the actual anniversary. September 11th. Which is Sunday. Not Friday.

    Have not we all sacrificed enough already since these deplorable attacks?

    Here is a partial list of changes brought about in the "post 9/11 world" and justified as necessary to keep us safe from future terrorist attacks:

    - arbitrary detention without trial
    - "extraordinary rendition"
    - torture
    - extrajudicial execution
    - the TSA
    - the PATRIOT Act
    - mass surveillance
    - illegal wiretapping of US citizens without judicial oversight
    - National Security Letters
    - censorship
    - unfocused wars "on terror" at great cost to our servicemen, economy, and international reputation
    - poor diplomatic relations with allied nations who did not support our unilateral military actions

    We need only look to the interesting political euphemisms now in the common vernacular: "extraordinary rendition", "enhanced interrogation techniques", "collateral damage", "extremism" - these describe kidnap, torture, manslaughter of non combatents, and political views not approved of by the administration respectively.

    How many civilians have been the victims of "collateral damage" in the last decade? How many Americans die each year of preventable illnesses, or in automobile accidents caused by intoxicated drivers? What value in terms of human lives to we assign to the several hundred million inhabitants of a continent which is descending into fascism? What is the value of our freedom? What do we sacrifice when we yield to fear? Is that not the very objective of terrorism?

    Who wins when we sacrifice what is truly important due to fear of violent, politically motivated, mass murder?
  3. m22au


    Although trading activity on the CME will be lighter during those 4 minutes than it would be otherwise, there will still be plenty of activity, particularly at 9.59am and 10.29am.

    This is especially true if there is any breaking news and/or market moving event tomorrow morning.

    Surely one "lot" of one minute's silence would be enough.

    I would imagine that by 10.29am, some people would be a bit tired of going through a fourth minute of silence.

    Finally, has anyone asked HFT bots and algorithms to refrain from trading during those four * one minute periods?
  4. heech


    Yea, I'm a little confused by this. I have an automated trading system... am I supposed to actually halt the programs? Now I feel like I should, in fear that the ask/bid spread will blow out into insane ranges.

    It's one thing if they just halt Globex, I'd be fine with that. But asking for a "voluntary" pause? What kind of crazy ass instability is this going to cause in the markets? Does no one remember the flash crash?
  5. heech


    Their previous announcement just said NYMEX/COMEX products... and now its *all* CME Group products? Again, what the heck is going to happen when the cash stock + index future markets diverge dramatically during that one minute?

    Am I over-thinking this?
  6. i will totally observe this moment of silence

    unless there is something worth trading
  7. Haven't they done this several times before and how did that work out?
  8. m22au


    What will happen is that the size on the bid and the ask will be smaller than usual, however there still will be some activity, particularly for the "silence" at 9.59am and 10.29am.
  9. Yes, they do this every year. You should of seen the voluntary suspension of trading when the OJ verdict was announced, that was fun.

  10. On September 11, 2009, CME Group will remember the victims of the
    terrorist attacks of September 11, 2001. CME Group will observe one
    moment of silence on its trading floor in Chicago and four moments
    of silence on its trading floor in New York corresponding to the
    times the planes hit each tower and the times each tower collapsed.
    In addition, electronic trading on CME Globex(R) will observe a
    voluntary moment of silence for CME and CBOT products, as well
    as four voluntary moments of silence for NYMEX and COMEX products
    corresponding to the times the planes hit each tower and the times
    each tower collapsed. Each moment of silence will last for one

    Friday, September 11, 2009

    CME Group - CME/CBOT (trading floors and electronic trading)
    7:18 a.m. CT/8:18 a.m. ET

    CME Group - NYMEX/COMEX (trading floors and electronic trading)
    7:46 a.m. CT/8:46 a.m. ET
    8:03 a.m. CT/9:03 a.m. ET
    8:59 a.m. CT/9:59 a.m. ET
    9:29 a.m. CT/10:29 a.m. ET

    /PRNewswire -- Sept. 9/

    SOURCE CME Group
    #10     Sep 8, 2011