E-mini WTI NYMEX mini Crude Oil (QM) and e-miNY Natural Gas (QG) contract futures on the New York Mercantile Exchange, currently hosted on GLOBEX, will migrate to the NYMEX ClearPorts trading platform on Friday, 18th November 2005, at 19:30 PM GMT. As a result, SaxoBank, for instance, will be unable to continue trading in these futures. How with other brokers? And what is the difference between Globex and ClearPort? For more info: http://www.nymex.com/press_releas.aspx?archive=2005 Which brokers support ClearPort? Does it mean that IB, Man will also cancel such trading with e-miNY?
Do you guys think this move is going to raise or lower the volume? If brokerage firms that were trading on Globex no longer can on ClearPort, will their clients stop trading the QM or just transfer to a broker that can (like Alaron)? And if there's enough brokerages that can't trade on ClearPort why move off Globex? I know they are cutting out the middleman, but if volume suffers, this may back fire. It'll be interesting to watch Monday. I got an email from Alaron saying that we can trade Monday, but only with limit orders and no stop orders, market orders, etc. Just limit orders. I think I'll sit on the sidelines till I am 'allowed' to place a stop loss order!
I am not seeing high or low prices with InteractiveBrokers ... for QM Jan 2006 mini ny crude oil futures I do think I see bid / offer ... last trade price and DOM ( 7 levels ) for the orderbook
Some of the electronic platforms seem to have missed the switch over and seem to be blaming the brokers.
Ok, this is the most idiotic thing I've ever seen regarding contracts: Until Friday, 30.000 - 50.000 contracts were traded each day, today it's only a bit more than 2000 until now, probably 5000 until this day is over. The Nymex is such a bunch of ***** In order to preserve their floor they do everything, even kill a good product. F*** IT!
CL or pit traded volume has not been drastically affected by this migration. So why can't you just pick your spots in the QM? I would think most platform's/brokers will have Clearport access within a few days.