So they make a two sided market in outright and spreads. What do they do if for instance there bid is hit?
Maybe CME isn't a "major exchange" -- is that your claim? Or is your claim that CME is at its low? The latter is simply false; it's closer to its 52-week high than 52-week low. And you could have verified that in 30 seconds before posting nonsense. Try finance.yahoo or finance.google...
And re RSJ -- yes, they've built a nice business. Rather than being envious or resentful of it, why not focus on building your own business? I'm sure you have many talents.
The Specialist firms on the NYSE had a bigger advantage than RSJ has. The game was rigged/bent in favour of these Specialists. But this never stopped traders making money from NYSE stocks. Even day traders made money against them. So stop whining like little girls about RSJ.
Aren't you that wanker who thought eurex should explore a relocation to London if they introduced the FTT? Here's another gem,oh sorry i mean stating the fucking obvious http://www.elitetrader.com/vb/showthread.php?s=&postid=3407192#post3407192 "desk fees hurt in low profit year" - how did you ever come to that conclusion lightning ? http://www.elitetrader.com/vb/showthread.php?s=&postid=3387900#post3387900 Another little piece of gold for you rookies out there Looks like you use IB too - which means you aren't even a real trader.
In my opinion you are way off the mark with that comment. Correct me if I'm wrong but did any single specialist firm dominate the total volume in the way that RSJ does? & just out of interest -is your perspective based purely on screen trading or did you spend any substantial time on the floor?
Light volume day today. ES - almost 30 handles yet only 1.5m TY - 860k GBL - 670k GBS - 250k,WTF is that about Spanish auction,data throughout the day,IMF and earnings. S/B much more than that I would've thought. I guess we should thank the Algo/HFT crowd for their help. Perhaps tomorrow stick another 50m lots in that never have a hope in hell of trading.
Folks get more worked up about 20 point <i>down</i> days, as you're well aware. I get a sense you believe the markets owe you a living - ? If you're hitting a dry hole, drill somewhere else. Open a car wash or a yoga studio or a wine bar...
Its not really a nice business is it? there is no value added, they are just as bad as the rest of us parasites leaching off somebody else.