Globex Terminal

Quote from bdixon619:

Unless you live in or very near the Chicago area the main concern isn't order entry but access. First you have to be guaranteed by a clearing member of the CME. This guarantee process involves numerous background, capital, and registration checks you must pass before approval. In other words, if you aren't well known by CME member firms and can't pass the stringent requirements, trading success alone won't determine whether you deserve a terminal. Other than that, depending on the bandwidth you are using, cost of a connection ranges from $1,000 to $3,500 a month (as of last year, the most recent figures I have).

That's about all I know. Good luck.

Bruce :)
More...

You can get a VPN connection for $400 a month.
 
the only terminal that lets you see the depth of the big
contracts overnight?

if so , that might be worth paying up for
assuming the order flow is real and not pulled
when the prices get close to the books orders

I can only see a few levels of e minis overnight
and have no idea what is behind the best bid
best offer of the big contracts trading on
globex
 
Quote from Sioux:



Most people do not understand the relationship between Globex and the Chicago Mercantile Exchange.

Globex is the name of the order entry platform created by the french Software Company GL. It is simply an order execution platform. Same treatment as TT, FFastTrade, PATS, ECT.

Globex is not faster, or somehow endorsed by the exchange.
More...


Globex IS the exchange, it's owned by the CME. You must be referring to the Globex Trader, which is a Globex front end platform, much like X_Trader, or FFastTrade's etc...



Basics of GLOBEX Trading

All GLOBEX® orders are either placed through a CME®-certified front-end trading application or via GLOBEX Trader(SM), the CME-provided trading software. Once processed and executed on GLOBEX, the trade confirmation information is returned back to you and also sent to the CME Clearing House and your FCM's back office systems. See Diagram.


Front-end Trading Applications
CME customers may choose from a number of front-end trading applications to gain access to CME's GLOBEX products. CME-certified front-ends, including GLOBEX Trader, can connect to GLOBEX via either a dedicated network connection or the Internet. The GLOBEX Trader > Internet configuration uses Virtual Private Network (VPN) technology, a secure method of accessing GLOBEX using your preferred Internet Service Provider (ISP). CME's VPN FAQ offers answers to the most frequently asked questions regarding this connectivity solution.

To trade via an Internet connection using GLOBEX Trader -> Internet , you will need a computer with the appropriate requirements for the front-end you have chosen and a true Internet Service Provider (ISP). Please note that popular connections such as AOL, CompuServe and Prodigy are private networks with gateway connections to the Internet — not true ISPs and cannot enable GLOBEX access. Traders seeking high-speed access may use faster Internet connection options such as DSL or cable modem.

To trade on multiple exchanges, many traders look to an Independent Software Vendor (ISV), Futures Commission Merchant (FCM) or Introducing Broker's (IB) front-end solution that provide both market data and order routing functionality. CME's GLOBEX market data is available via MD API, and can be integrated into any third-party or proprietary trading application. Orders placed through third-party or proprietary front-ends are routed through CME's iLink interface, which enables order routing to the GLOBEX matching engine. Further information may be found in order routing or market data.


SP
 
I apologize, I was wrong in believing Globex was solely owned
by the CME, it is in fact an alliance;


Globex
GLOBEX is an alliance of several futures exchanges from around the world which have come together to offer electronic futures trading twenty-four hours a day, five days a week. It was launched in 1992 by the Chicago Mercantile Exchange. Since its launch, GLOBEX has become a focus for many futures investors, and it is now a highly successful electronic trading platform.

Futures Exchanges in GLOBEX
Among the exchanges involved in GLOBEX are the CME, Brazil's BM&F, the Paris Bourse, and the Singapore International Monetary Exchange. All members of GLOBEX use an NSC Electronic Trading System developed by the Paris Bourse. With all these exchanges coming together, GLOBEX can offer investors a focus on many of the world's most popular financial futures products.
 
there is no advantage to a globex terminal especially when you factor in the costs. we have globex, jtrader and a proprietary front end and there is no discernable difference between them.
 
In the past the so called Globex terminal was the only direct access platform available. The few internet brokers at that time had some funky email trading or a web based front end. Hence the reputation for a Globex terminal being faster.

Today you can choose from a number of direct access front ends.
 
I was under the impression with a Globex terminal you could buy at the bid and sell at the ask (without the market moving).

Being able to capture the spread was the reason you paid extra?
 
Quote from Tea:

I was under the impression with a Globex terminal you could buy at the bid and sell at the ask (without the market moving).

Being able to capture the spread was the reason you paid extra?
More...
Tea, in futures anyone can buy at the bid AND get a fill. Happens all the time. The only reason why retail customers never did this was that the floor traders had a time and place advantage. The off-the-floor traders were essentially limited from trading the spread for practical reasons.

With direct access everyone is treated the same, Globex terminals, IB, TT FFastFill, Jtrader whatever.

Now as a direct access trader WITH a membership on the exchange you get a huge reduction in the clearing fees. This still does not place you above the other traders in your ability to trade the spread.
 
Quote from PuffyGums:

Tea, in futures anyone can buy at the bid AND get a fill. Happens all the time. The only reason why retail customers never did this was that the floor traders had a time and place advantage. The off-the-floor traders were essentially limited from trading the spread for practical reasons.

With direct access everyone is treated the same, Globex terminals, IB, TT FFastFill, Jtrader whatever.

Now as a direct access trader WITH a membership on the exchange you get a huge reduction in the clearing fees. This still does not place you above the other traders in your ability to trade the spread.
More...

what do the members pay per contract ?

thanks,
 
You must log in or register to reply here.
Back
Top