Complain Here About E-mini "order Mistakes"

Discussion in 'Index Futures' started by slapshot, Jul 15, 2003.

  1. You would never know this from the CME stock chart; 52W Hi ... again.

    Denial is thick. Volume I guess; is thicker than reality.

    #11     Jul 15, 2003

  2. My point exactly: If a person has a position that takes advantage of the move and manages to stay in until it bottoms (or tops out), they would have a huge profit taken away by the busted trades -while still having assumed the risk of putting on the trade in the first place. Then they have an open position when they thought they were flat.

    If I'm wrong about this then someone please (politely) correct me.

    Also, how about the other traders that get burned in NQ trades or even MSFT or some other unrelated/loosely related instrument? No one comes in to break their trades...

    Also, I thought I read somewhere that there was a maximum size limit that any one trader could put in at any one time for E-mini's - is this true?


    #12     Jul 16, 2003

  3. However, what happens during these spikes can hardly be called a "fair and orderly market" - apparently the Powers That BE agree enough to break trades over it...


    #13     Jul 16, 2003

  4. Thank You.

    #14     Jul 16, 2003
  5. Uni


    Point taken and I am aware of what has been happening lately with emini trading. I just don't believe "voicing concerns to governing agents" is going to amount to anything more than squat (unless Elliott Spitzer decides to take up the case :cool: ). These are freely marketed products and if one thinks that they are being intentionally misused or misrepresented, they are welcome to vote with their feet. As for unrelated issues being affected, the market will take care of that. I don't think the big boys want to lose the liquidity provided by the retailers.

    #15     Jul 16, 2003

  6. Agreed that "squat" defines the odds of any substantive reform.

    But, if individual Traders don't represent themselves, then who will represent them?

    Change and reform is often slow and it takes multiple events to create a process - IMO, we owe it to ourselves to put in our .02 to regulatory agencies when appropriate as these types of events occur.

    Otherwise it'll just get worse for everyone except the offenders.


    Paul (aka Don Quiote)

    PS <sigh> Perhaps I just feel like Tilting at Windmills lately :p
    #16     Jul 16, 2003

  7. (This is the text of the reply letter I received after I e-mailed and complained - )

    Dear "angry futures trader":

    Thank you for your e-mail of July 15, 2003 concerning the busting of trades
    in the e-mini markets. We are reviewing the circumstances surrounding such
    events and greatly appreciate your views and comments on the issue. We will
    certainly take them into consideration as we proceed with our review. The
    Commission is committed to ensuring fair and orderly markets and the
    protection of market users and the public from fraud, manipulation and
    abusive trading practices, and you can be assured that we will thoroughly
    review this matter. Again, thank you for your comments.

    Richard W. Q. Fung
    Chief, Market Compliance Branch
    Division of Market Oversight
    Commodity Futures Trading Commission

    (Although obviously a form letter, at least they took the time to reply)
    #17     Jul 16, 2003
  8. Thank God american lawyers weren´t invented yet when the big meteorite hit planet earth some 60 mln. years ago - imagine the dinosaurs suing us mammals for taking an unfair advantage...

    #18     Jul 17, 2003