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CBOT is in the drivers seat right now. They have the liquidity. All Eurex has is low fees. Worst case, CBOT has to reduce it fees and starve Eurex. All the heavy hitters already pay the lowest fees on CBOT. Liquidity is more valuable to them than the cost savings of 5 cents a contract. Reducing...

It always pisses locals off when a print lower than the market shows up on the trans-lux and nobody's heard a bid or offer. Then you hear the "Somebody's fucking whispering in the pit, huh?" from some disgruntled guy. It always makes me laugh! People don't understand or appreciate the difficulty...

Was Jack a grain local?

There's always a handful that pull more than a quarter mil a year. Of course that's a small handful. Even so, not bad for less than 4 hours of trading per day!

For the last 2-3 years, ED pit has been good to many people. Not unheard of for over a million/year. A few have been pulling out 5-12 million a year. I know of some that are up 5-10 million this year. Of course, there's some volatility to those earnings.

I can only speak from my own experience and the people that I know. But those elocals sit around the pit reading the pit volume and trade exclusively the emini to get in and get out. This is the volume from the pit that I am refering to. Same goes for A/C/E bonds,notes. I know people that...

Downtick, What you are ignoring is the presence of the "e-locals", the locals that sit around the pit reading the pit volume but trade the emini. This provides volume to the emini, but is really originated from the pit. If there was no emini, these guys would be in the pits. So, this volume...

Are you talking about the ED? That's a $1M contract. I wouldn't call that small. The ES? Yeah, that's a small contract.

Lovilitera, What is your experience in the markets? Ever work in the pit yourself?

A management company will do any size of rental property. They take 6-10%. The rate depends on the size of the building and if you have any other property with them.

Interesting. The model really should be called the Black model (leave out the scholes). Black was the brains behind this not scholes. Or, the Black-Merton model.

Maybe you don't create anything. But what you take, you take away fairly. I use this term to mean that the other person is knowingly buying/selling. What do advertisers/marketers do? Convince people they need crap that they really don't. What do salesmen do? Pressure you into spending more...

I agree but I think alot of the money's already been made in the last couple of weeks, particularly in the internet sector. Smart money is what caused this rally and now they should be looking to unload some shares. Maybe even start some shorts. Look at the recent weakness in YHOO and AMZN...

If your doing that kind of volume, why not just purchase or finance a trading membership at the CME? I think you'd save yourself some money.

Anyone ever heard Lieberman? talk about Black-Scholes? Even more convoluted than Ellison. Lieberman supported all the tech firms a couple years back when FASB was considering it back then. Lobbying and Lieberman convinced Congress that expensing options via Black Scholes was ludicrous...

It may be done, but I have a hard time believing that the SEC or any other gov. agency is going to allow a foreign exchange to trade US GOV BOND futures. The CBOT and the CME have lobbied heavily in Washington before and have had some success.

Any NG traders out there? Trying to get myself acquainted with it. Who are the major hedgers out there? Obviously some producers, power companies, etc. But which ones?

I guess I had the mindset of a commodity market, ie grains, metals and such where the cash market does not "compete" with the futures market.

So you've been bitchin' and whinin' for a while now on ET about options. When are you going to spill the beans and reveal some of these "tricks"? Seems like you're just a scorned trader.

Did anybody read the artical in institutional investor recently. CBOE is starting a payment for order flow like the ISE. Should be interesting to watch it gain back some market share.