I have a few questions I hope to find answers to. Can anybody tell me if the CME has specialist trading the ES or any other instruments to make money competing against other traders? A discussion between trading buddies came up and we did not know the answer. If so would the CME have a way getting orders in ahead of anybody else using trading platforms any FCM's or IB platforms? Would a Globex terminal in the CME give you a better advantage for market orders versus market orders through TT, Pats, IB or any other entry platform outside the CME? Does the CME make any money off of the Bid/ Ask spread of any trades in the Electronic market? Are they making the market electronically? Or are they only making their money on commissions? It's not a matter of concerns with our trading, more curious too answers. Thanks Trade123
You realize that there are several sp products out there? ES generally means the emini sp contract which is traded electronically. There is also the sp500 which is still pit traded and mostly used by institutions. the answer is it depends, if you are an institition discreetly moving size, you may want a broker as they can work the order. The esz07 dec emini contract is one of the most liquid if not the most liquid electronic futures contract. A small retail trader, meaning buying power under $10,000,000 is probably going to be trading and or arbing spy, $spx.x, and es, not to mention options and other derivatives. Hope I was somewhat helpful. You can poke around on the cme site to see what I mean or call your broker. http://en.wikipedia.org/wiki/Chicago_Mercantile_Exchange