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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: F Robert Simms who wrote (4478)	9/23/1998 1:10:00 PM
From: Patrick Slevin	Respond to of 44573

You just reminded me, Schwab has a presence on the AMEX floor; I think they own Mayer-Schweitzer. Therefore they probably have a presence on the CBOE but that still does not answer why they don't do SPX. Of course, if you ever saw the people in the SPX pit it would make you afraid. They are pretty mean-looking traders. Then again, they are trading 10s of millions and have not accepted the yuppie health code as yet. That is to say, I've been told by some of the OEX people at the CBOE that the SPX traders think nothing of hitting the pubs all night and back to the floor the next morning. When I visited there they sure looked like it. Finally, even though your fill appears to be instant it would make me uneasy to have to wait any length of time for the confirm. Sounds like there are too many middle men. Pro OEX traders may give them a good rep but then pro traders may enjoy a direct line to the OEX desk due to their activity level. Just a thought.