Free Arcade Space

[Parky]

i know you did but you still are typing the wrong information out on here.

I have just put the phone down from the exchange and the facts as laid out are as per our meeting. All traders must trade Nymex products but not exclusively so.
If traders do not trade Nymex products they are liable to be given notice although how these criteria will be policed and controlled has not yet been determined.
Because of the limited amount of space, if demand is liable to meet or exceed capacity then the floor traders or Energy traders with a proven record or history of trading Energy products be it Nymex or IPE will be given priority.
Most of this is common sense as much as commercial sense.

 

[Pitscum]

they are about to fill the floor with >20 people from one trading arcade whose name shall remain nameless who are your usual poor grads on the usual shyte arcade deals. you're right parky. those lads are packing energy trading experience. their one lots will massively increase the depth of the market.

as for policing what you trade on nymex yeah great idea. especially when if i want to trade bunds from my nymex desk, apparently i can, so long as i pay for the non-energy hook up fee.

so, sorry. dont believe your hype..again .........

 

[Parky]

Well time will tell, the Nymex guys were adamant they were not doing this to challenge or compete with the arcades, just too increase volume in the E-mini and other Nymex screen based contracts.
You missed my point on the priority for Energy traders, the fact that 20 low level non Energy traders are flooding the floor is a sign that professional Energy traders already trading at arcades are not taking up the offer and if this dosent work as with the Open outcry trading floor,then Nymex will try something else. From what you are saying about the traders taking up the offer it is doomed so dont get too comfortable!
How anyone can seriously expect an Exchange to subsidise a trading floor for traders to trade other exchanges products is beyond me. Dream on.
Also how are they connecting to the other exchanges? Nymex obviously isnt going to become a member of LIFFE, Eurex etc so no direct connectivity will be vailable. The answer is you have to choose from a VPN connection or a hop to a data centre or your clearers trading hub. Sounds real professional!! Good luck your going to need it, I just hope it is worth saving a desk fee.

 

[Pitscum]

If anyone is really interested in trading the Nymex E-mini's then they can drop me a line.

..ah yes, start at £1500 pcm shall we?

Also how are they connecting to the other exchanges? Nymex obviously isnt going to become a member of LIFFE, Eurex etc so no direct connectivity will be vailable.

oh dear.....how do you think we hook up to the other markets then?

You missed my point on the priority for Energy traders, the fact that 20 low level non Energy traders are flooding the floor is a sign that professional Energy traders already trading at arcades are not taking up the offer

..and, more to the point, its bad business for rip off arcades to see decent traders actually make cash as opposed to paying for that delhi arcade owners always seem to grow from long lunches counting their monthly desk fees and r/t's

 

[Parky]

..ah yes, start at £1500 pcm shall we?



oh dear.....how do you think we hook up to the other markets then?



..and, more to the point, its bad business for rip off arcades to see decent traders actually make cash as opposed to paying for that delhi arcade owners always seem to grow from long lunches counting their monthly desk fees and r/t's

Well more like £ 750.00 pcm for the desk, but in any case not something decent traders are worried about.
However direct connectivity to the markets without any routing or hops are the sort of thing decent traders are worried about.
Like everything in life you get what you pay for.

 

[Pitscum]

£750 for a desk? what about the computers...TT system..........extra screens? telephones......hook up to all the exchanges you mention.....

as i said eons ago.....nymex have chucked all those in.. F-R-E-E.....how big a shovel would you like parky???? hmmmmmm

 

[Parky]

Yep you are right in so far as the ISV's etc are at cost and the set up is as expensive or cheap as you want to make it, take two 19" flat monitors and a PC for TT say then you are up to £ 1,250 pcm. No secret about the costs.
Yes I know Nymex are giving you the set ups for free(at the moment) and connecting you to NYMEX for free.
But if you want anything else you pay for it. If you want DIRECT connectivity to other exchanges ,as I have said over and over, it is not available.
Also as I have said before if this trading room does not add sufficient volume to the Nymex electronic contracts they will shut it down. There is no such thing as something for nothing no matter how much you may wish that to be the case.

 

[Pitscum]

If you want DIRECT connectivity to other exchanges ,as I have said over and over, it is not available.

those bunds we traded last week.............musta dreamt it......

 

[charliechan]

Well time will tell, the Nymex guys were adamant they were not doing this to challenge or compete with the arcades, just too increase volume in the E-mini and other Nymex screen based contracts.
You missed my point on the priority for Energy traders, the fact that 20 low level non Energy traders are flooding the floor is a sign that professional Energy traders already trading at arcades are not taking up the offer and if this dosent work as with the Open outcry trading floor,then Nymex will try something else. From what you are saying about the traders taking up the offer it is doomed so dont get too comfortable!
How anyone can seriously expect an Exchange to subsidise a trading floor for traders to trade other exchanges products is beyond me. Dream on.
Also how are they connecting to the other exchanges? Nymex obviously isnt going to become a member of LIFFE, Eurex etc so no direct connectivity will be vailable. The answer is you have to choose from a VPN connection or a hop to a data centre or your clearers trading hub. Sounds real professional!! Good luck your going to need it, I just hope it is worth saving a desk fee.

sounds right.

nymex are in the exchange business, not in the clearing/arcade business.