Eurex, Chicago Exchanges get ready to rumble

No love for the Chi-town exchanges huh ? I spent 7 years between the CBOE and CME, and to be honest I can't believe those places are still around. Unfortunately, I started trading there just after the gold rush, so I wasn't able to cash in on the free money being handed out pre-2001. It's true that there are a lot of dumb millionaires that came out of those places, but it just proves that life is all about being in the right place at the right time. There were a lot of plusses that they used to have, but now it makes no sense to be on the floor being squeezed for tight markets, which means that they guys on the exchanges have officially had the tables turned on them. And while misery is at an all time high down there, I do have to say that there are a ton of good people there, and unfortunately there will be a high percentage of them trying to find a new paycheck in the near future.

Vega:D
 
Quote from vega:

No love for the Chi-town exchanges huh ? I spent 7 years between the CBOE and CME, and to be honest I can't believe those places are still around. Unfortunately, I started trading there just after the gold rush, so I wasn't able to cash in on the free money being handed out pre-2001. It's true that there are a lot of dumb millionaires that came out of those places, but it just proves that life is all about being in the right place at the right time. There were a lot of plusses that they used to have, but now it makes no sense to be on the floor being squeezed for tight markets, which means that they guys on the exchanges have officially had the tables turned on them. And while misery is at an all time high down there, I do have to say that there are a ton of good people there, and unfortunately there will be a high percentage of them trying to find a new paycheck in the near future.

Vega:D
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You're a true brotha...

Brotha's got soul!
 
Bottom of 6th inning, Cubbies leading 2-0 over that SECOND city team, the New York Mets !!!!!!!!:p :p Go Cubs, Go Sox !!!!!!!!!! After years of crappy baseball, and a very prosperous financial district, looks like things are changing, Cubs and Sox still playing for something in late September, meanwhile the exchanges are turning into the lovable (or not so lovable) losers !!!

Vega:D
 
Grain trading will never leave the floor. Because of spreads, future vs. cash give-ups, and the fact that Chicago is the primary market, i.e. no pesky cash screens, Grains are safe as the last refuge of open outcry. Volume on the grain floor is about 300,000 contracts a day. Nothing to sneeze at.
 
Quote from Pabst:

Grain trading will never leave the floor. Because of spreads, future vs. cash give-ups, and the fact that Chicago is the primary market, i.e. no pesky cash screens, Grains are safe as the last refuge of open outcry. Volume on the grain floor is about 300,000 contracts a day. Nothing to sneeze at.
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When the demise of the financial products happen, those grain traders (full members) will be sorry they gave up that cash cow.



I dont think 300,000 contracts of grain can keep that place afloat , how will they pay for that nice new building.:confused:
 
I wouldn't ring the CBOT's death knell yet. The Treasury will not be enthused about a foreign exchange being the primary futures market for U.S. government debt. Also both Cantor and the major player owned BrokerTec (Goldman, JPM, ect.) have failed to attract institutional participation. The major source of liquidity in electronically traded financial futures is still from CBOT and CME members who's fees will most certainly be slashed to within striking distance of Eurex's thirty cents.

Someone knows something. Rather than collapsing in the last few months at the imminent threat of Eurex, CME stock has doubled and CBOT membership prices are on three year highs. Viva' Chicago!
 
Finalll...y competition. Love it. Am sure CME & CBOT are looking at their pricing model. Why did it take Eurex this long. Come on over. We want them.
 
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