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In a message dated 1/5/01 11:15:05 AM Central Standard Time,
eadamy@xxxxxxxxxx writes:
<< Spoo close of 1348.30 less 32.00 should have given limit of 1316.30 however
I'm showing many trades below that down to 1314.00 without a halt. What
gives? Something to do with spike high last night?
Earl
>>
I show we were offered limit down at 10:36 CST. The new lows to 1314.00 were
more than 10 minutes later at 10:51 CST and it was not offered limit at the
end of the 10 minute period. The rule states:
Down only. Once a limit offer has been established, trading can occur at or
above this limit for 10 minutes or until 2:30 p.m. Chicago Time (CT).
Trading will halt for two minutes if the primary futures
contract is limit offer at the end of the 10 minutes or at 2:30 p.m. CT.
Before 2:30 p.m. CT, trading will resume with the 5% limit in effect; after
2:30 p.m. CT, the 10% limit will be in effect.
Here is a link from our website with the whole rule:
http://www.pricegroupetd.com/CME1QPriceLimits.html
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
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