just caught the end of something on cnbc that I did not understand. Anyone know what I'm referring to here? Thanks
I saw the same report, and also didn't know what they were referring to. Wasn't that the worst journalism ever? They say volume is severely reduced "obviously due to the events" without ever mentioning what the events were. Time for a J-school refresher course.
It's the Eurodollar options pit locals that are staging a bit of a protest (apparently, about 50 of them hanging outside the pit). The issue is a bunch of reasonably large trades done yesterday.
I can see why they're sore... It's smth like 215k contracts that "traded through", apparently. To not get your hands on any of that action must be rather frustrating.
I say F 'em. Can't rob anyone so they strike? They would be rolling grannies if not "making markets".
Being able to participate in Block Trades has always struck me as a license to print money potentially. I can understand the logic behind them but it strikes me that they are about as just and equitable a system as something like flash trading. Surely the algos and HFTs have made the markets so "efficent" and "liquid" that we really don't need such an antiquated and opaque system???