i started this thread within eurex trading as the two are connected through spreads, most people who trade out of london in arcades read this thread the most and lastly there is not an individual liffe thread. hello to my all followers out there . i hear feedback from others who read my threads. im now seem as a 'local hero ' to the london local market. a speaker from the quiet masses who have a genuine cause against the exchanges that have left us alone on the bloody battlefield of the electronic market. anyway on with the point im gonna make here. MARCH 09 EURIBOR CONTRACT. 25TH APRIL 2007. LOTS TRADED FROM THE OPEN TO 8:14 AM. LOTS TRADED TOTAL ON T/T - 1883. LOTS TRADED TOTAL ON BLOOMBERG QUOTE RECAP - 2315. LOTS TRADED WITHIN THE 2315 THAT WERE SPREAD,FLYS ,CONDORS, OR OTHER IMPLIEDS ETC WAS 928. that left 1387 ' natural ' traded lots. i wont go into the difference between the lots total. thats a whole new area to discuss about dubious exchange volume. BID OFFER SIZE AT THE TIME WAS SOMETHING RIDICULOUS BUT I CHECKED AND IT WAS INCLUDING THE IMPLIED 13325 BY 8165. the main point im trying to make here is this is anything but a natural and true trading market. unnaturally large bids and offers that dwarf the total volume in some contracts. this is misleading and seriously dangerous in an unusual event risk situation. the exchange has a moral responsibility to make sure that no one individual person or persons can run the risk of being carried out for a load of money and being short 15000 lots in a market gapping up 40 or 50 ticks is going to cause some damage. i am hearing from a lot of people that individuals and companies are working big size well above their tradling limits just to get a position on in a few hundred lots. this is very dangerous. in the next few months the new algorithm will run on the euribor strip. will this make a difference.im not a 100 percent sure. one thing i think will happen is when this takes place along with the bobl 1/2 tick coming in i think the bid offer size will increase again in relation to total volume traded as smarter systems and locals compete for a smaller piece of the pie. here below are the exchange rules and my interpretaion is that they are being openly broken especially section (ii) and (iv). 8104 NO FRAUDULENT OR MISLEADING CONDUCT 8104/1 In conducting business for itself or on behalf of its Clients, a Member must not engage in, knowingly facilitate or fail to take reasonable steps to prevent: (i) any action or any course of conduct that has the effect, or may be expected to have the effect, of artificially and/or abnormally moving the price or value of any Admitted Financial Instrument or any instrument underlying an Admitted Financial Instrument or the level of any index of which an Admitted Financial Instrument is a component; (ii) entering artificial orders or otherwise entering into or causing any artificial Transaction; (iii) reporting a fictitious Transaction or any other false data to Euronext or causing such data to be input into any Euronext system; (iv) any action or any course of conduct that creates or may reasonably be expected to create any false or misleading impression as to the market in, or price or value of, any Admitted Financial Instrument; (v) any other action or any other course of conduct that may damage the integrity and the transparency of any of the Euronext Markets; or (vi) agreeing or acting in concert with, or providing any assistance to, any Person (whether or not a Member) with a view to or in connection with any action or course of conduct referred to in paragraphs (i) to (v) inclusive of this Rule 8104 or otherwise causing or contributing to a breach of any applicable Rule by such other Person.
they came in gave a presentation on it a few weeks ago. the usual we are so great speech and heads up our arses nonsense. they are using it on short sterling and the swiss interest rate products at the moment. then they will go live on euribor. go to the website it must be on there somewhere. when it was actually pointed out to them that even if you were at the front of the queue for 500 for example. you then sell 50 lots. someone low ticks the bid below. then guess what. you lose your place at the front of the queue because another price traded. what a great system that is. they must have spent all of 3 years developing that. dorrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.
you could say i am the keyser soze of the futures market. people know of me and have heard of me. but no one has ever met me. The greatest trick the devil ever pulled was convincing the world he did not exist. And like that... he is gone
Beaker, i started to read your thread, but quickly became bored and started spoofing the market with 15000 lots and would you believe i got filled and made 3 ticks. Free money, i dont get what your problem is!!!!!! Grow some balls!!!!!!