TS just informed me ECBOT is down again. God what a fucking mess. HOW CAN AN EXCHANGE NOT HAVE BACKUPS?
since 9/11 we know that no matter how bad it is, the market can take a licking and keep on ticking thus there is no need for back up, just one of my pet theory
Thanks for the responses. It looks like I have a few viable options when it comes time to hedge a ER2 position on the Globex. I could buy 1000 IWM for each contract I am short, but this would consume large amounts of my precious margin. I could buy IWM or R2K call options - more on that later. I could buy a CME Pit traded contract, but I use IB and there could be some issues with that (http://www.elitetrader.com/vb/showthread.php?s=&threadid=60996). Apparently I can buy a R2K pit traded contract on the NYBOT too? And lastly, I could buy a R2K futures contract electronically on the Eurexus/USFE, if anyone actually trades on it (http://www.elitetrader.com/vb/showthread.php?threadid=73208)? Any others I have missed? I think my best choice is buying just in the money front month R2K options to hedge my position. This contract seems to have good volume and the delta is close to 0.5. So I would buy about 2 calls for each ER2 I was short. Not sure how gamma is going to affect this hedge - as my calls go more in the money my delta increases and I will actually become net long on the hedge?? As they move out of the money my delta decreases and I become net short?? Seems like win-win! I must be missing something?
Bear made a flash video on what to do if the YM/CBOT goes down and your in a trade. Here is the link: www.puretick.com/video/hedge/ CajunSniper / Puretick Administrator-Trader
the correlation (iirc) between YM and ES is over .9 fwiw, both times i was in a trade when CBOT went down, it moved in my direction and turned into a nice profitable trade this shows to me yet again, that retail traders are consistently on the wrong side of the market.
Same here, [i'm retail BTW though] both times the data returned I had a gap in my favor. Thanks for the heads up on the correlation, it provides a very simple answer for the data loss situation.
I heard today the synthetic grain quotes were crashing the system I there should be no more issues. Don't know if that is true or not.
The ratio of 1 ES for every 3 YM contracts is way too low. Its much closer to 1 to 1. Beaten to death in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=46256&perpage=6&pagenumber=8