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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who started this subject8/1/2002 4:50:40 PM
From: TFF   of 12617
 
Globex Update

July 30 -- Updated Information
Globex system maintenance on July 27 appears to have stabilized the affected exchange interfaces. So far this week, we have not observed the problem described in the original notice (see below). We still recommend caution, however, during afternoon trading on high-volume days.

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July 25 -- Original Notice
Over the past several days, Globex has experienced a volume-related problem that affects the exchange's ability to process orders. We have observed that the problem generally occurs on high-volume days between 13:30 and 15:45 CT (Chicago time).

Problem Description
Our physical connection is not affected, and we are sending orders to Globex as usual. When the problem occurs, the exchange does not acknowledge or work them in a timely fashion. This results in orders being "stuck" in a Transmitting or TransmittingPC state. When this happens, Globex is not able to cancel the orders until they are acknowledged. In the case of MKT orders, it is not possible to cancel the order and fills may occur many minutes after the order is submitted.

Problem Mitigation
Globex has three types of electronic exchange interface, and this problem is affecting all users of one interface. The exchange is working to stabilize the affected interface and will be performing extensive maintenance on July 27.

In addition, we are working to complete development and certification on one of the unaffected interfaces as a permanent solution. This will not be complete, however, in the short term.

Recommendation
Until further notice, we strongly suggest that all traders use extreme caution when placing orders for Globex products during the times noted above (13:30 - 15:45 CT). Especially avoid MKT orders during this time if you would be adversely affected by a delay in order acceptance and filling.

xpit.com
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