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THE DOCTOR wrote:
>
........................
> He {VIC } was most likely a big factor in the poor market quality many people
> found in S & P derivatives on Monday's halt and Tuesday's opening. If
> you look at B/A spreads in S & P 500 products at Tuesday's opening they
> were very (IMHO)extreme..even for the conditions that existed.
Dr,, I need an education. Why was his position a factor at the halt and
the open?
Because people knew that something was up and didn't want to step in
front of a train?? or is is something more esoteric??? How does a
clearing house handle such huge risk?
Wouldn't someone get on the phone and raise margin??? or is it the
charisma/chutzpah/macho
clearing house thing to stay out of it??
> The way the affair was handled calls into question the overall market
> quality in S & P futures and options. Both at the CME and at my shop as
> well.
Respectfully,
Don Thompson
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