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I hadnt considered the rate would be negotiable. :) talking about LIFFE Euribor and CME Eurodollars... my refco rate sheet for Eurodollar starts from 0.68c a side and slides down to 0.55c subject to vol, non member rates.

reading between the lines it looks like they got a fully backed deal at the RTS paris arcade from which they would have taken a share of their trading profits. sounds like they didnt make any money from trading and are now trying to claim they were "employees" muppets

Check out Man or GNI for Eurex if you are based in Europe

that rate is for 25,000RT though admittedly I do most of my volume on LIFFE futures at the moment, Refco dont discriminate between exchange and as long as my total volume is high enough I get the lowest rate. it basically breaks down to (per side): 0.34c exchange fee 0.10c globex fee...

I'm trading own-account at Refco's london office for $1.10 round turn on CME instruments, non-member rate.

What do they say in their letter? I've often wondered what happens if you accidentally trade with yourself

there is an interview with the Flipper/Rotter in the Jan 2005 issue of Trader Monthly - readable at this link: http://day-trading-resources.com/celebrity_traders.htm

Velocity rates are miles more expensive than Refco's clearing - you only needed to 25,000 RT with Refco to get their cheapest comish and it was about half the price of Velocity's 100,000 RT rate

LOL!! :D How about Floco?

yeah, at 55c a side for CME Eurodollar and emini products, not many clearers are capable of getting close to clearing at the Refco rates

I agree. There are already front end platforms that can calculate and execute on implied in, implied out and implied on implied pricing opportunities at speeds TT can currently only dream of

Cresta, what technology are you thinking of?

LOL :D the lady in the office here who manages withdrawals etc

exactly :)

i wasnt here when it was Mac, but I'm presuming so... the office at 155 Bishopsgate. Everyone has the jitters and a few guys have left already - most of us have a contingency plans up our sleeve just in case it all goes down the can - but we're not exactly short of arcade's to go to round...

I'm at RTS london office... business as usual at the moment, traders are trading and can deposit or withdraw funds freely.

LME is all still open outcry. The only place left in europe, apart from the newly opened but illiquid Nymex Europe, that still does it. You'd perhaps want to try Man financial

I'm at RTS london and its business as normal for everyone trading here

Are you in Europe? You wont get one till the end of this month... thats when the first issue is due out apparently

Trader Monthly are launching their European edition of the magazine with the first edition coming out at the end of this month. Their website says the magazine is "free for professional traders" so if you are trading from Europe and think that means you then you might want to sign up for a...