Open Outcry--Routing directly to the pit

Discussion in 'Index Futures' started by trader1111, Feb 3, 2003.

  1. One more question....Ever heard of routing open outcry orders electronically?

    Got a call from a broker today said that they have the capability to route orders directly to any open outcry pit in the world. I have never heard of it and wondered if there is anyone else to compare with.

    Thanks for all the help today.
  2. Depending on the exchange, they're either routing to a pit-based device like the CME has (orders can be routed through TOPS to a flat panel device a broker is using or to a hand held enabled pit) or they're routing electronically to a computer at the broker's station outside the pit and then being flashed in to them for execution.
  3. Generally when they say pit routing, it means to a broker in the pit with an electronic hand held or some other electronic device. But this also depends on which contract your trading. It's a lot quicker sending, executing, as well as reporting the trade back to you.