Okay, Beaker, theres no need to get offensive just because you're down on the month, i can lend you a score if you're desperate.
I wonder why LIFFE don't hand out copies of the article from the WSJ which reckons all these spoof trades are computer-generated and that the top 3 traders in the Euribor are now computer models. You think 13,000 lot offers in Euribor are ridiculous,Short Sterling regularly has 50,000 lot bid/offers - it struggles to do that kind of volume in a whole days trading yet LIFFE can't work out that someone is manipulating the market - go figure!
Interesting that the rules of the Exchange say about false markets and misleading bids/offers however on the numerous times I've contacted LIFFE about this they always say "he's there to be hit." The only ways to get the absurd size out of the markets: 1.Make the STIRS first in,first out like Bunds etc then the fake bid would lose it's advantage if it had to go to the back of the queue every time it decided to pull. 2.Charge a round-trip fee for non-completed orders if someone is only completing a tiny percentage of inputted orders - why go bid for 15,000 if you don't want to complete 15,000? 3.Ban these models altogether!
I had a black box last year that was placing orders on Liffe for less than a second and then pulling them. Liffe were in contact with me a load, and my point at the time was they are there to be hit if anyone wants them. They said they were having a large number of complaints from locals.
Im new to trading on Euronext.lifee, being trading on it for about a month. Notice it the Financial host server (but not equity host) is currently suspended for almost the last two hours. Perhaps one those 15000 lots got filled by mistake and so they are busting all trades in those 20 seconds this morning.. How often do they have these types of problems?
When do you reckon it will be back up for trading? Is this outage typical of the type of outages or are they normally less minor?
Don't know, keep an eye on their website. When they go down, which is quite rare, they usually go down for a while.
this looks like its gonna be a long while. they are normally up and running by now. maybe some algo blew their system up and they are going to ban them all. then again.