Igor May be Finished

[ZiggieCME]

I am new to the forums and have been reading through all the articles and came across a thread about Igor. At least, that is the name I have been given as to the person who throws up the fake bid asks and then yanks them to manipulate the market short term. Well, his days may be numbered. Figured I would share this with you since I have not seen it mentioned yet.

http://www.cme.com/about/press/cn/orderquantity10945.html

Sometime next year, the CME will increase the max. click size to 1500 contracts. This will make it much more risky for him to continue in the same manner. This will also curtail the use of ATS systems that do ruffly the same thing as him. I can't wait till the day where he throws up that 2k bid and Goldman Sachs comes in and nails him for all of it before he can yank it! It won't take long before some of the big institutions call his bluff, fill his entire order and knock his butt around cause they can now.

 

[MartinD]

if I recall correctly, the max order size has already been upped to 1500cts by CME for emini S&P, the beginning of the end for the pit since the big players will now be able to shift much larger volume in the emini

 

[wisestguy]

what's wrong with fakes , the insitutions do it all the time , why can't old igor be allowed to do it .

 

[Jumpin]

Institutions don't like level playing fields!

 

[ZiggieCME]

Becomes effective Jan. 9, 2005.

Z

 

[MartinD]

i thought "igor" was actually called 990N... or at least thats their clearing number on globex. There is a whole lot of threads on Elite Trader on this subject.

All harks of the "flipper" hoo ha in the bund, does it really affect your trading? showing fake size doesnt give any support or resistance so it shouldnt make any difference to your trading

 

[wisestguy]

Institutions don't like level playing fields!

how true !

 

[maxpain]

Wonder how many people really believed in that story?
(PPT - GS, ML, JPM & the FED)

 

[MartinD]

I think PPT, 990N & flipper + friends are all just convenient targets for mass hysteria to blame when traders lose money.

 

[ZiggieCME]

I agree that if you stick to your strategy he can't affect you greatly. Occasionally, he will make you puke out of a trade if you have to take too much heat. So yes, he will cause you to lose money once in awhile. However, anyone that watches the ES day in day out knows these guys play this game. And once in awhile, it will cause you to take a hit.

Z

 

[maxpain]

I think PPT, 990N & flipper + friends are all just convenient targets for mass hysteria to blame when traders lose money.

PPT exists - believe it was during the Regan era it was established.