CME Taking Over CBOT?

[Susannah 10]

When exactly is this happening? I trade YM, are there any changes I should expect, or will it all be fairly transparent to me?

[Guest forsearch]

Depends. How long have you been trading YM?

 

If it's been over 6 months you should have noticed that YM has already migrated from the CBOT platform over to trading on the CME Globex.

 

Likewise, the depth of market for trading YM has been reduced from 10 bid and 10 ask (or 15x15 on some brokers, like Open E Cry) to the Globex standard of 5 bid and 5 ask only.

 

Additionally, the start time for RTH (regular trading hours) in the pit for the Dow (not to mention the YM.D start time) was changed from 8:20 am EST to match the RTH for the other indices (like the S&P) at 9:30 am EST, when the (cash) stock market opens.

 

In other words, it's already happened

 

-fs

Edited May 15, 2008 by forsearch

[Susannah 10]

It's been less than 6 months (about 2 months) so I guess that means it'll be *totally* transparent to me, huh?

 

IB still shows that my order gets routed to ECBOT (and that seems to be my only choice, when I pull down the box, there's no where else to route to). So, I hadn't realized a lot of it had already changed over.

 

Thanks!

[firewalker 10]

When exactly is this happening? I trade YM, are there any changes I should expect, or will it all be fairly transparent to me?

 

I hope it means less problems/interruptions, because the ECBOT hasn't actually been the most stable one!

[Guest forsearch]

Yeah, Globex is the stable trading platform in the futures markets. (I don't exactly care for the reduction in the bid/ask depth for eCBOT products, especially in the 30yr bonds, however.)

 

Just look at what happened on the ICE the other day. Madness, I tell you.

 

Be sure you have a backup plan when and if your exchange drops the ball.