By Hal Weitzman
Independent futures traders at one of the CME Group's most high-profile
trading pits have walked off the job in a highly unusual protest
against"block trades", large, privately negotiated...
Join the CME Co-Location Services Team for an afternoon of technology
discussions, hardware demos and interactive games from Microsoft, all while
overlooking Chicago from the 99th Floor Skydeck of the...
By Howard Packowitz
CHICAGO -(Dow Jones)- Independent traders staged a walkout Friday of CME
Group Inc. (CME) options on Eurodollar futures, protesting a large,
privately negotiated trade a day earlier.
By Katherine Heires
The cheetahs, as Bart Chilton, a commissioner with the Commodities Futures
Trading Commission, calls high frequency traders, have come under
ever-greater scrutiny from the CFTC and Securities Exchange...
By Marvin G. Perez
IntercontinentalExchange Inc. (ICE) (ICE) plans to offer futures and
options in U.S. grains and oilseeds, expanding competition with CME Group
(CME) (CME) Inc., the leader in agriculture...
By -Electronic futures planned in corn, beans, wheat
Electronic futures planned in corn, beans, wheat
-Move comes as CME manages client backlash over MF Global
-Exchanges have poor record in challenging dominance
MORE TRADERS SOUND OFF ABOUT THE CME WALK OUT, AND THEY HAVE A BRUTAL MESSAGE FOR THE PROTESTERS
By Julia La Roche
A bunch of CME Group independent floor traders, commonly referred to as "locals," made a splash Friday after staging a walkout boycotting pit-trading options of Eurodollar futures — the most actively traded interest rate product at the exchange.
The protest followed a controversial trade the previous day known was a "block trade" — a privately negotiated order/trade that's performed off site, but cleared by the exchange and then posted on the CME's website minutes later.
We're told by a source that block trades have been going on for years, but because the Eurodollar futures pit is the busiest one at the exchange, they're getting more attention.
While the biggest gripe we heard from a local at the CME is that floor traders are not privy to the information when a block trade happens so they get "blindsided" and can lose a lot of money, not all traders seem to feel sorry for them.
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