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> [The CME] has plans to offer some form of electronic trading for
> all its contracts by the end of the year. Then we will let the
> market decide which format will win in head to head competition on
> as level a playing field as can be found.
How level will it be, really? Will the electronic SP be emasculated
the same way the ES was at first, or will it be a totally open market?
> I am a firm believer in letting the market decide which is the
> best format.
Me too. But it DOES require a level playing field. The ES got off
to a much slower start than it should have. Once they took off the
size limits, it was off to the races. I hope they're smart enough to
not make that mistake again.
Gary
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