Traders' Roundtable

After years of getting terrible fills in the New York pits, I can't say I am sorry to see them go.

Even though today ,3/3/08, was well known as the first day of trading 100% electronic in the softs, I notice vendors I deal with are still not ready or know what to do to offer any form of continuous backadjusted soft data. Bit of a scramble going on I gather.

On top of the softs pit data vanishing, the 30 year decided to split in half.

All in all, a bit of a dog's breakfast!

my last (i.e. never again) stop order in the cocoa pit took 6 minutes to execute and charmed the pants off me with 44 ticks slippage.

viva the screen.

ladadriver wrote:my last (i.e. never again) stop order in the cocoa pit took 6 minutes to execute and charmed the pants off me with 44 ticks slippage.

viva the screen.

Ouch. Illiquid is illiquid though wherever it shows up... Be it in that pit, or the grains globex in the evening or in gold in the middle of the day. It never feels nice giving up the edge to exit. Much less being shafted at the same time. Spreads can become pretty wide at times after the moves we've had. Pits used to declare a fast market condition (license to steal), Haven't heard of a similar state in the EEEEs. It just is what it is I suppose. I remember being able to check time and sales and complain to the floor broker if a fill seemed unreasonable, with a fair shot of being adjusted. Not theeeeeese days.