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How is this relevant. Years ago they were not setting volume records like
they did yesterday on Globex, in emini S&Ps and emini Nasdaqs. Years ago
they did not have a market data API. Years ago they did not have the
exponential growth in the number of orders that they have seen in just the
last three months. Years ago they did not have to cut the depth of market on
the Globex markets to just the top 5 levels of bids and offers because of
traffic issues.
This has to do with the tremendous growth in the trading, the number of
orders the system is handling and the concentration of trades, orders and
overall activity in a specific time frame.
I hear the CME just budgeted another $1 million dollars for new hardware just
to keep up with the demands of the current growth. And that is before they
introduce the emini energy contracts from the NYMEX and route Single Stock
Futures through the Globex APIs.
Think back to 1999 and the stock market. Sometimes managing growth has its
problems. One the whole I think the CME is doing an incredible job and the
implications of you old story are wholly off the mark, Mark. :-)
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it! John J.
Lothian is the President of the Electronic Trading Division of The Price
Futures Group, Inc.
In a message dated 2/28/2002 8:36:20 AM Central Standard Time,
markbrown@xxxxxxxxxxxxx writes:
<< years ago a very big trader told me that quote
"that the _ _ _'s at the cme had a switch which throttled the speed
of the quotes going out"
and that when they needed to make some money they flipped the switch.
>>
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