to my pleasure I read on CME's site that the CME has currently a program underway which should propel GLOBEX usage by old fashioned traders who trade exclusively open outcry. could it be that the CME soon wants to introduce big SP futures on globex (side-by-side trading). that would be great, as open outcry makes up less than 30% of total volume (SP + ES) this certainly would make sense. is there any information on this topic ? thanks
The big contract on globex? That would be awesome, particularly if we could trade it on IB for the same $4.80. Commish adds up with the ES.
Here ya' brother. I've always thought that if the CME wanted to migrate the whole equity complex to the screen that they make the multiplier 100x. That way satisfy retail and institutions without having two separate contracts. Plus $100 a pt. per contract has a nice symmetry.
I have specifically asked this very question (about the big futures options though) twice in the last week. TP from IB said that he believed that the CME would eventually offer the big SP futures electronically. The CME responded that there "were no plans underway at this time to take the 250s electronic". Of course, this is their standard answer to me who writes as John Q Public, so they could well be rolling the damn things out electronically next week. I would probably be better off asking here...which I did a few weeks back (over in options) but didn't get an answer.
this got my attention: http://www.cme.com/news/shownews.cfm?NewsItem=00073BBC-FC1D-1F0A-9ECE80EDBEFB0000
I don't see here any indication that they are rolling out big SP's on Globex. Please enlighten me. TM Trader
not directly of course. but they encourage their members to "incorporate electronic trading into their business structure" more and more ? isn't this an indication ? I would say so.