basic qns on Globex/floor trading

battle river · Jan 8, 2008

Quote from John_Wensink:

You just need to open an account with a clearing firm that allows the fungability. IB does not.

Ib does actually

Janed · Jan 8, 2008

Quote from battle river:

Ib does actually

Please share with us how the fungibility you do is done in IB.

battle river · Jan 9, 2008

Quote from Janed:

Please share with us how the fungibility you do is done in IB.

hi.do you mean with the hog contracts? i thougt that what he meant

futuresRX · Jan 12, 2008

Quote from zf trader:

I was wondering if Mr. Floor trader thinks that side by side is here to stay or if all trading will be done on globex in 5 years.

For what it is worth I think i get better fills on side by side products than electronic only product with my IB account

I think trading will probably move to the screen in a little more than 5 years, maybe 7 or 8, which is probably a little more optimistic than some. Still a good amount of volume on the floor to keep it open.

Janed · Jan 12, 2008

Quote from battle river:

hi.do you mean with the hog contracts? i thougt that what he meant

Sure, explain to us how you do this in IB using any example. The only way I know is to close the postion in one then reopen the postion in the other, thereby incurring commissions (and other possible side-effects).

battle river · Jan 13, 2008

Quote from Janed:

Sure, explain to us how you do this in IB using any example. The only way I know is to close the postion in one then reopen the postion in the other, thereby incurring commissions (and other possible side-effects).

hi janed. when i open a position with say globex ,i can close using the floor.

Janed · Jan 13, 2008

Quote from battle river:

hi janed. when i open a position with say globex ,i can close using the floor.

Ok, what steps to you take in IB when you have both underlying symbols HE and LH? I cannot imagine how this is done.

battle river · Jan 14, 2008

Quote from Janed:

Ok, what steps to you take in IB when you have both underlying symbols HE and LH? I cannot imagine how this is done.

hi.with IB, the symbol is HE for both.you just have to select globex or floor(cme)

my quotes are like this then:

HE cme apr--
HE globex apr--
etc

same with cattle,grains.

hope this helps

Janed · Jan 14, 2008

Quote from battle river:

HE cme apr--
HE globex apr--

Yes, that's similar to other things I trade there. So how do you convert your position from "HE cme apr" to "HE globex apr" or vice-versa without taking a hit???

aPismoClam · Jan 14, 2008

Quote from futuresRX:

I trade on the floor and arb between it and the screen, and yes, hogs are fungible traded on the floor and Globex. I probably do about 300-400 contracts on Globex every day, depending on volume and the opportunities that are present.

If you do trade online and route to the floor, you'll get pretty good fills as there are good locals down here that'll take the other side (I'm one of them )

what on earth do you arb a lean hog against? oh, bellies?