Globex destroys its credibility and good will

Discussion in 'Index Futures' started by AAAintheBeltway, May 1, 2003.

  1. I have been a big fan of globex but today's unbelievable outage, affecting not just the ES but all globex products, demonstrates that they are either criminally negligent, incompetent or possibly corrupt. I include corrupt as a possibility because there are powerful forces within the CME that would like to see globex fail and return to an all floor based system

    Assuming that the explanation is simply some kind of technical glitch, one has to ask how can it go on all day? Even QCharts has alternate server farms and backup facilities. Do you mean to tell me that globex isn't able to switch over to a redundant network within seconds? Or maybe they could but it would inconvenience the floor trade? Who knows what the true answer is, but I think they have demonstrated they are way too irresponsible to be allowed to run these markets. This sorry episode should be investigated by Congress and the CFTC, not that either of those toadies will do a damn thing.

    Eurex, thousands of customers await you here. Hurry up.
  2. take a walk down on the floor of the CME somtime
    and (aside from the few good people)you will get repulsed by the scummy, arrogant, schiesters that fill up that place
    then go down the street to the other exchanges and its a world of difference??? the cme sucks and never never use a bookie from that place unless you want to get screwed
  3. AMEN!

    your point about qcharts having a better uptime than globex is well-taken. to beat out QC definitely suggests something bigger than incompetence...only ARCA is worse than globex, judging by outage frequency...

    i don't trade futures/globex and never intended to, but this whole thing is complete bullshit...
  4. nkhoi

    nkhoi Moderator

    this is not the first time and neither it will be the last.
  5. taodr


    Brace yourself ! There will be lots of strange happenings before the next election. This economy is not improving and manipulation will be the norm.
  6. ZBEAR


    So the question is.........

    What Do We........or Can We........DO ABOUT IT ??????
  7. Brandonf

    Brandonf ET Sponsor

    Trade the Mini Dow :D

  8. nkhoi

    nkhoi Moderator

    not a thing, look at the result of penalty that SEC make them do, giving some mill to someone to do some studies to recomm some self policing, investors get no refund, ,they must laugh themselves to death.
  9. ZBEAR


    Were there any interruptions on the DOW mini's today ?
  10. I don't know, a complex network/computer system is not guaranteed to stay up 24/7. Doesnt take much to find a point of failure. Then again, it may have been the cleaning lady plugging in the vacuum
    #10     May 1, 2003