Autospreaders and LIFFE - A WARNING

This is a discussion on Autospreaders and LIFFE - A WARNING within the Trading Systems forums, part of the Methods category; does anyone know of other autospreaders in the marketplace for interest rate products - intersted in seeing the TT sheet ...

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Old Jan 12, 2005, 6:54pm   #16
 
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does anyone know of other autospreaders in the marketplace for interest rate products - intersted in seeing the TT sheet still
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Old Jan 12, 2005, 7:45pm   #17
 
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Euronext Paris also charges for excessive orders in stocks. Don't know about the other Euronext exchanges.
I think a lot of exchanges are likely to go this way.

Continuing to be amazed by messaging from the ECNs. SPY on ARCA requoted almost 500 times in a period of less than half a second at one point today. Impossible for any person to keep up with and very difficult for most computers to keep up with too. If using an order tax prevents this sort of activity on LIFFE then I think it must be a good thing for the majority of market participants.
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Old Jan 12, 2005, 8:08pm   #18
 
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It is OK to use it with large volume orders but not with smaller ones. I used to do 20lots and just enter it 5-10 times at the same price, this is why I got hit with a very large bill.
Also it is fine to use on spread products as less changes are required in a day there.
It will be interesting to see if there are more large trades done as the result of this change.
Suspect the larger algorthmic traders will just do a deal that lets them carry on.
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