For Sale: One White Elephant...Cheap!
Seems the clear thinkers at the ME have said thanks, but no thanks to the TSE's free offer of the OM trading system, on which the TSE has to date spent some $15 million. Instead the ME has joined Globex, which combines automation with open-out-cry trading, which in my humble opinion (also shared btw by the NYSE and CBOE for example) is the best and fairest system of trading. The ME, no fools--they, will still take the $28 million from the other exchanges to take over all derivatives trading in Canada, thank you very much. Every other exchange in the world is scratching and clawing to gain market share in derivatives, and the TSE saw fit to pay to get rid of derivatives, plus doing so completely in secrecy (some might say collusion) with the other exchanges. Is it any wonder that the brain trust troika behind this is now all departed, some under a cloud, from the TSE? Unfortunately, their plans are too far down the road to change, I'm afraid.
What a long, strange trip it's been.
Happy trading.
Porter
(e&oe) |
