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Eurex Comes to US Markets
- Thread starter jearnest
- Start date
Quote from Cutten:
Mav, Pabst - was your prediction that the bond pits would survive? Or that Chicago would survive, but in screen form? I don't think anyone said Chicago would die if they went electronic and got competitive on fees?
So far I see CBOT slashing their screen fees. That makes the screen relatively more attractive compared to the pit. This just hastens the demise of the floor IMO.
People are confusing pit vs screen with CBOT vs Eurex. The screen will kill the pit, regardless of whether it is a CBOT screen or a Eurex screen.
No, my argument was that Chicago would survive, more then likely with a hybrid system like they have now, half pit, half screen. My argument was that futures would eventually go to the screen and the options would stay in the pits.
All I heard on this board how the CBOT/CME/CBOE was going to shut down its doors and call it a day as soon as Eurex came here. All I heard was how the second Eurex started trading all the big American banks and insitutions would be falling over each other to trade on Eurex. Of course now we can see that obviously is not the case. But boy did I get slapped around for awhile defending my stance.
http://biz.yahoo.com/djus/040227/0728000411_2.html
I'm sure some people can trade in Europe and UK, through some arrangement, but final approval was apprently just granted.
We'll see if this increases volume
I'm sure some people can trade in Europe and UK, through some arrangement, but final approval was apprently just granted.
We'll see if this increases volume
Makes me laugh once again. Final approval granted by 8 different regulators on a single day ? Wow !
But how about UK ? What does the press release say about them ?
You are allowed to trade - or you are not allowed to trade ?
But how about UK ? What does the press release say about them ?
You are allowed to trade - or you are not allowed to trade ?
Notes to the editors:
Eurex US has applied to the UK Financial Services Authority (FSA) for recognition as a recognised overseas investment exchange in accordance with UK law. Eurex US is not authorised by the FSA and is not an exempt person in the UK. There is no UK office able to deal with any queries relating to Eurex US. All such queries should be directed to its Chicago office.
Neither the membership of Eurex US nor the use of any of its services is available to any person in the United Kingdom except for persons who (i) have professional experience in matters relating to investments, (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended), or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) related to the use of the services of Eurex US may otherwise lawfully be communicated or caused to be communicated (all such persons, together with any persons outside of the United Kingdom, being referred to as "relevant persons").
Insofar as it may contain or constitute any invitation or inducement to engage in investment activity, (a) this document does not constitute or contain any invitation or inducement to engage in investment activity with any person who is not a relevant person; (b) this document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons; and (c) any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.
IMHO, I see more and more block trades happening on a daily basis for more and more size electronically. TYAM is 2000 up on a more consistant basis. I believe these lower fees on the cbot are actually facilitating the move from the pit, however unintentionally. The volitilty although great is much more subdued these days when a guy clicks with a thousand lot.
Say goodbye to the locals (liquidity providers) in the pits first, and then its curtains for treasury futures on the floor. I give it a couple years, tops. This has happened before, i.e. LIFFE coffee/cocoa/etc.. Seat prices will probably continue to rise year after year, as well.
EurexUs isn't cutting the mustard. It's 1% of the cbot volume or less and thats MM's trading with themselves. Until the volume picks up by 5000 a week for two months straight there no immediate cause for concern. Euro banks must get involved soon or this thing goes under by the fall.
Say goodbye to the locals (liquidity providers) in the pits first, and then its curtains for treasury futures on the floor. I give it a couple years, tops. This has happened before, i.e. LIFFE coffee/cocoa/etc.. Seat prices will probably continue to rise year after year, as well.
EurexUs isn't cutting the mustard. It's 1% of the cbot volume or less and thats MM's trading with themselves. Until the volume picks up by 5000 a week for two months straight there no immediate cause for concern. Euro banks must get involved soon or this thing goes under by the fall.