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In a message dated 7/1/01 11:25:00 PM Central Daylight Time,
markbrown@xxxxxxxxxxxxx writes:
<< actually you are getting ripped in the electronic pit, at least
recently a major firm changed ownership over night because they were
caught stealing millions per day, front running. >>
***** I have my ear to the ground and my eyes on the net and I saw nothing
about this. Would you care to share details? Privately is fine.
***** There is no electronic pit, eminis are traded almost exclusively on
Globex2, a trade matching engine. There was an all or none pit for larger
orders, but the max size of the orders has been increased to where they can
plant flowers now in that space on the floor.
***** I run 3 different online systems, on only one of them could I front run
an order. And none of my clients who are trading large enough for me to
front run would be set up for catch and release. They would all be set up
for direct routing. I don't quite see how this front running is occurring at
the brokerage level.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
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