IPE vs Nymex crude volume

[Directional]

Backward, arrogant, closed shop robbing b**tards. Bring on electronic trading!!

lol! The amusing and ironic thing is that Nymex trumpet from the hilltops how open outcry is the most transparent market forum in the world!

whatever!! I have no idea how they work that one out, other than self-centrical spin.

Its only transparent if you're prepared to buy membership and stand in the pit to trade. Apparently they dont count any traders who are remote to the exchange as "real" traders deserving of transparency. I'm glad to see that ICE have proven them wrong without even breaking a sweat.

 

[jmreeve]

All I can say is I bloody hope they lose the lot, NYBoT too. Backward, arrogant, closed shop robbing b**tards. Bring on electronic trading!!

On that note, the e-CBoT Agris are looking good, corn is 300x300 with a 1 tick spread, wheat and soy are a bit thinner but definitely worth trading. Meal, oil, oats and Rice arent quite so good but its early days yet........ Viva la revolucion!!

History repeating itself just same same as with LIFFE and the Bund.
Serves them right for dragging their heels on going fully electronic and then being too greedy with fees.

Also noticed corn got off to a good start on eCBOT.
Think the e-agri makets are going to be a huge success.

 

[minx]

Also noticed corn got off to a good start on eCBOT.
Think the e-agri makets are going to be a huge success.

Yeah I really hope so. I really want US Coffee and Sugar to go electronic too, LIFFE ones are good but there just isnt the size in there to be able to trade sufficient quantities for a reasonable slippage. LIFFE Sugar regularly has a 5-10 tick spread and is populated by 1, 2, 5 lots.

eg- right now its 5x12 lots with a 5 tick spread.

 

[jmreeve]

Yeah I really hope so. I really want US Coffee and Sugar to go electronic too, LIFFE ones are good but there just isnt the size in there to be able to trade sufficient quantities for a reasonable slippage. LIFFE Sugar regularly has a 5-10 tick spread and is populated by 1, 2, 5 lots.

eg- right now its 5x12 lots with a 5 tick spread.

Don't know why NYBOT doesn't just list all it's contracts on CBOT in a similar sort of agreement that NYMEX has done with CME. If it did that then it would be far more convenient as most of physical comods would be on one exchange.

 

[minx]

Well ICE are sniffing around NYBoT at the moment, just depends whether the floor traders will sell themselves and face up to the future (no pun intended)

 

[jmreeve]

New record for volume on ICE WTI.

241,503 done yesterday.

Incredible that it has gone from zero to quarter of a mill contracts in a few months.
Almost nothing done on NYMEX in the pits any more.

 

[minx]

Almost nothing done on NYMEX in the pits any more.

A quick look on the futuresource charts says there is volume in NYMEX still

 

[jimbo57]

Total Volume yesterday on NYMEX crude was 323,357 about 45k of this was done on Access electronic - the rest was in the pit. It aint dead yet

 

[jmreeve]

Total Volume yesterday on NYMEX crude was 323,357 about 45k of this was done on Access electronic - the rest was in the pit. It aint dead yet

Where did that figure come from?
It doesn't match the figures on the NYMEX website.

 

[jimbo57]

Where did that figure come from?
It doesn't match the figures on the NYMEX website.

thats was dow jones as follows:

08 Aug 2006 13:00 GMT DJ Nymex Volume Aug 7, Crude Oil 323,357, Globex 10,341

For the previous business day, in contracts.

Volume
CLU6 129,001
CLV6 110,783
CLX6 28,667
CLZ6 24,611
CLF7 6,581
CLG7 3,626
CLH7 2,357
CLJ7 288
CLK7 306
CLM7 1,669
CLN7 0
CLQ7 0
CLU7 37
CLV7 7
CLX7 100
CLZ7 9,940
CLF8 0
CLG8 0
CLH8 0
CLJ8 0
CLK8 0
CLM8 225
CLN8 0
CLQ8 0
CLU8 0
CLV8 0
CLX8 0
CLZ8 1,309
CLF9 0
CLG9 0
CLH9 0
CLJ9 0
CLK9 0
CLM9 0
CLN9 0
CLQ9 0
CLU9 0
CLV9 0
CLX9 0
CLZ9 1,281
CLF0 0
CLG0 0
CLH0 0
CLJ0 0
CLK0 0
CLM0 0
CLN0 0
CLQ0 0
CLU0 0
CLV0 0
CLX0 0
CLZ0 1,698
CLF1 0
CLG1 0
CLH1 0
CLJ1 0
CLK1 0
CLM1 0
CLN1 0
CLQ1 0
CLU1 0
CLV1 0
CLX1 0
CLZ1 600
CLZ2 271
Total 323,357

E-miNY
QMU6 96,810
QMV6 1,671
QMX6 15
QMZ6 22
QMF7 0
Total 98,518

Globex WTI Financial
WSU6 7,023
WSV6 3,051
WSX6 258
WSZ6 6
WSF7 2
WSG7 0
WSZ7 1
Total 10,341

 

[jimbo57]

those figures match the numbers I have from Nymex Direct, a nymex product marketed on their website via esignal, so no reason to disbelieve them - what are you looking at?

 

[Directional]

anyone got info on how the volumes are looking in Nymex's electronic physically deliverable/pit fungible futures that went live on globex this month?

 

[jmreeve]

Not sure of the volumes but there is much more trading going on on globex than there is in the pit.

 

[jimbo57]

I still dont agree! Yestreday total globex volume in wti was 70.4k contracts. Total Nymex WTI volume was 277k contracts But its ceratinly stopped the locals mucking around with the closes basis the last couple of days action

 

[jmreeve]

In the front month there was about 8400 trades done on globex and about 1355 on the pit for 6th Sept.
So there is more activity in the electronic market.

 

[jimbo57]

In the front month there was about 8400 trades done on globex and about 1355 on the pit for 6th Sept.
So there is more activity in the electronic market.

total volume traded yesterday in front month crude on NYMEX: was 112k...I think your numbners are wrong

 

[jimbo57]

first 3 months yesterday total nymex wti

CLV6 112,103
CLX6 71,948
CLZ6 33,142

 

[jimbo57]

equivalent for globex

CLV6 39183
CLX6 19354
CLZ6 7654

 

[jmreeve]

My numbers are the number of reported trades I saw on the feed and not the volume.

If there are more people using the electronic platform and more trades executed then that is where the
liquidity will end up.

 

[Directional]

thanks for the info guys