ELX Futures Exchange

D

Dollars&Sense

The new ELX Futures exchange is supposed to be launching July 10th.
www.marketwire.com/mw/search.do?params=&grpSearch=C&companyid=60377
www.cnbc.com/id/15840232?video=1156724424&play=1

"ELX Futures, L.P. offers electronic trading in US Treasury Interest Rate futures products including the 2 Year, 5 Year and 10 Year Notes and 30 Year Bond contracts with full support for Block trading and Exchange For Physicals."
www.elxfutures.com/Products/Interest-Rates.aspx

Check out the fee schedule...
www.elxfutures.com/Products/Fee-Schedule.aspx

Any thoughts how this may affect CME fees and volume?
 
It's curious the example of saving for non-member: 1.1 Mln vs. CME: who trades 10K lots/day and choose not to be a member or trading under any other of the available membership profiles? :D
 
Quote from Dollars&Sense:

The new ELX Futures exchange is supposed to be launching July 10th.
www.marketwire.com/mw/search.do?params=&grpSearch=C&companyid=60377
www.cnbc.com/id/15840232?video=1156724424&play=1

"ELX Futures, L.P. offers electronic trading in US Treasury Interest Rate futures products including the 2 Year, 5 Year and 10 Year Notes and 30 Year Bond contracts with full support for Block trading and Exchange For Physicals."
www.elxfutures.com/Products/Interest-Rates.aspx

Check out the fee schedule...
www.elxfutures.com/Products/Fee-Schedule.aspx

Any thoughts how this may affect CME fees and volume?
More...

The ELX has no chance whatsoever.
 
Quote from Bernard111:

It's curious the example of saving for non-member: 1.1 Mln vs. CME: who trades 10K lots/day and choose not to be a member or trading under any other of the available membership profiles? :D
More...
LOL

The ELX seems to me as a very amateurish project done by a 9th grade business class. Heck, the volume on CME will go up on July 10th due to hedging for any trades that may accurr on ELX (a couple 1 lots maybe) .

CME just released a new discount program for high volume traders.

Maybe the "Founders" are using the ELX as a tool to get CME to respond with lower rates because they sure as heck didn't invest any $ into the venture.
 
Quote from Dollars&Sense:
.....there will probably at least be some arb between the CME and ELX markets keeping the prices in line.
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1) If somebody bids or offers on ELX, does anybody really care?
2) Will the ELX members do "wash trades" among themselves in order to create the appearance of a market? :cool:
 
I have been out of town for awhile, and didnt see this new exchange news,,, I guess tommorow we will see the elx volume. I hope it fails. Its using a 1/2 tick for the 30Y. I hope that fails too.

If the elx switchs to a full tick in the 30Y then I dont care where the volume goes.

August should be interesting
 
Quote from nazzdack:

1) If somebody bids or offers on ELX, does anybody really care?
2) Will the ELX members do "wash trades" among themselves in order to create the appearance of a market? :cool:
More...

If ELX does not switch to 30Y full tick, they could gain some attention from black boxes arbing vs. CME 30 full tick.

But 30Y is not enough to re-create the Tsy mkt...
 
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