My research team has made several trading systems. Since I am very new to the team and rather busy with my personal life, I have not used them yet. But now I think it is time to get started. I contacted a broker about commission rates. He says he cannot discount much because my orders are MOOs, which need special care. Unfortunately, all the systems use Market Open Orders only. Though I can continue to contact others, without knowing industrial practice, I may end up hearing the same thing. When I trade European things at LIFFE or EUREX, I can place Market Orders way ahead of the opening bell and will get exactly the same effect as MOOs. In case of US futures, electric markets are already open much before 7:20 (CT). I cannot use the âEuropeanâ technique. I am afraid nowadays there are not so many traders who use MOOs. That is why brokers claim MOOs need special care, which ends up higher costs. Could you advise me. Thanks.
Hi mrmoose > what market are you talking about trading? I am sorry but I was not so clear. I am thinking of trading TY, FV ,TU and ED. In Europe, BUND, BOBL, SCHATZ - EUREX and EURIBOR - LIFFE.