>>So Porter, what kind of Mickey Mouse operation is this?
I don't know...all I can tell you it isn't my operation. I'm the new kid on the block. I don't know who the governors are and I have yet to see a rule book. I was stunned to have a trader come in yesterday and inform me that they were crossing 'pro' a 300 contract spread on both my markets and I was only allowed to do half!
By three o'clock today I wanted to take a sledgehammer to my printer. It was spitting out yards of tickets at a time, the markets were crashing with a vengeance, and I was totally at sea trying to maintain an orderly market. The ME system may work in sedate, low-volume markets, but it is totally unacceptable and unworkable in markets like this. Add in the internet micro-investors who have no compunction about CFOing their orders six or seven times, moving a nickel but still dollars away from the market, and you have a recipe for disaster, and as I said before, I will not be the goat staked out for the lion. Montreal wants us to keep the markets going until they can fully automate without spending any money to support us or make changes to make their system workable in these high-volume, high-volatility markets. The 401 runs both directions.
I guess you can tell I'm a little steamed, and the flight home didn't change my mood any. I love Montreal, and I'm finally getting my apartment livable, but if this continues,I'm skeedaddling back home before it really gets ugly.
Happy trading.
Porter |
