Quote from RedDuke:
The pits were only good for the locals, everyone else was at big disadvantage.
Why would anyone except for the locals wish they come back?![]()
Electronic trading opened doors for so many traders. So the volumes are down, every business has ups and downs but Eurex and CME wiht their electronic platforms are here to stay for a long while.
The pit was not only good for locals,paper with quality traders were able to get it's business done in a proper way at all times,everyone seemed to co-exist quite happily for a long time,traders in general don't seem so happy now.
As a former pit local/broker i'm not fussed particularly about returning to open outcry but don't like the way the business has gone.Somehow we manged to grow the volumes over significant events,'87 crash,'98 Asian crisis plus many more yet now we are collapsing,this is due to algo trading,poor mangement and lack of human trading input.
Electronic trading has opened doors to many,many cocks that is who hide behind a pc behaving in a way that would not have been tolerated in the past.
I don't think Eurex or CME will go under anytime soon,their share price will hose along with the value of the seats but am curious why you didn't mention LIFFE?

