New globex "K" algorithm?

Discussion in 'Commodity Futures' started by TraDaToR, Aug 23, 2008.

  1. TraDaToR


    Hello fellow ag players,

    I just noticed the change in agricultural matching algorithms on globex( dated July 3rd apparently ). I was having a bad time figuring out what was happening lately.

    Now, every ( if I remember correctly ) grain futures is working with the K algorithm :

    But WTF is the K algo? a TOP/LMM/FIFO/PRO-RATA/FIFO algo ?

    I can figure out what a TOP/LMM/PRO-RATA/FIFO is but not with the additional FIFO in between...LOL.

    Is it just defining the priority between Market Makers? It's the only possibility I see. Does someone knows the firm( s ) market making grains?

    Thanks for the clarification and thanks CME for introducing Marker makers in those markets. Every "improvements" you made this year were great, like the 5 ladder order book, continue on this path:mad: