Short Sterling on CME????

glenogy · Oct 17, 2008

anybody heard of this rumour of CME opening a short sterling product in full ticks? To combat LIFFE's disasterous move in making sterling half ticks and completely ruining the pit!!!!

gooseman · Oct 17, 2008

where have u heard that one?

Adamus · Oct 17, 2008

Why did the introduction of half-ticks ruin the pit?

Admittedly I know nothing about the short sterling pit but I am v curious.

gooseman · Oct 17, 2008

there is no short sterling pit.

BSD · Oct 17, 2008

???

Need to splurge and invest in a new calender I think.

arabianights · Oct 17, 2008

ahardy66 said:
Why did the introduction of half-ticks ruin the pit?

Admittedly I know nothing about the short sterling pit but I am v curious.

There is no pit but half ticks (£6.25 a tick ffs) meant that spread scalpers - who provided a lot of the liquidity - found it uneconomical to continue doing so. Even scalping the outrights became a lot harder because of this.

If LIFFE really wanted to introduce half ticks they should have doubled the contract notional value. I don't think anyone would have had a problem with that.

I really hope this rumour is true. LIFFE deserve to get absolutely ****ed for their arrogance and intransigence over this, same as when they lost the bund.

glenogy · Oct 17, 2008

all i can say is its from a very good source

gooseman · Oct 17, 2008

timeframe?

noshoulders · Nov 4, 2008

can only assume this was a false rumour, not heard it mentioned anywhere else

arabianights · Nov 4, 2008

It was mentioned on elitetrader as well.

Haven't heard it from anyone reliable or in real life though!

Maybe there's a reason for that

Short Sterling on CME????

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