Remember counterparty information is not provided anymore. This will change the way the indexes trade. The big boys who used it will have to change their trading models. Do you agree it will change the trade?????
Counter party is no longer provided on execution. But naturally they are still provided on the intraday clearing (CCL) drops. So for those who really need the counter party firm, it is still just a simple application that matches up the post-trade drop with the trade execution itself. The same information, except now maybe 5-10 mins after the execution, that's all.
things will get worse, it will go like eurex, people will take advantage of the anonymity to spoof the market.
Worse, I think it is for the better overall. More transparency, more opportunity. Anyway, this was mostly used by big boys to play against other big boys. Small trader like me (and vast majority on this board) would be unnoticed in these huge markets, ES and Euro Stoxx alone trade around 1 mil contracts a day. Regards, redduke
On the floor it was required that you give up a "name" each time you traded. Obviously you knew who filled for who, so there was little guessing anyways. I believe strongly that I have a right to know who's on the other side of my trade! Transparency is knowing, not being led around in the dark. Don't be fooled. It's the "big boys" who want you to be ignorant. In a FIFO system there's zero compelling reason for anonymity. Chicago had might as well eliminate the pretense that these products are anything more than a derivatives version of betting blind. At least at Party Poker you can see the other guy's cards at the conclusion of the hand.
Hi Pabst, My experience with markets is very pale when compared with yours. I am curious why you would prefer to know who is on other side of a trade? Thanks, redduke
Hey RedDuke! IMO ignorance is rarely bliss. Any information I gain may be useful. I'm finding it impossible to identify players let alone "rate" them. Wouldn't it be nice to know if Goldman or whoever was a seller of 20,000 this morning? "Players" info is quite nice to track in conjunction with the COT reports each week.