TWI
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LME still has open outcry but it is not the same as the other OO markets as they all sit in a ring and only action seems to come in closing few seconds of each session.
For IPE check out
http://www.theipe.com/trading/about_trading.asp?sp=floor_trading
Best place is U.S. these days to see the real action. I spent some time at CBOT and it was great. Better hurry up tho, sure it is only a matter of time before OO is totally phased out.
For IPE check out
http://www.theipe.com/trading/about_trading.asp?sp=floor_trading
Best place is U.S. these days to see the real action. I spent some time at CBOT and it was great. Better hurry up tho, sure it is only a matter of time before OO is totally phased out.
Im sure IPE is still open too. IPE have offices on St Katherines Way, but the floor is one of the larger building overlooking the dock - across the road from the Mint pub
Some of my mates were going there after LIFFE (no pun). They decided not to as it was about as quiet as LIFFE at that point. I only think they got a few pits anyway.
Some of my mates were going there after LIFFE (no pun). They decided not to as it was about as quiet as LIFFE at that point. I only think they got a few pits anyway.
Sharky
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Does anyone know if it's still possible to experience open outcry anywhere in the US? As I'll be visiting New York and Chicago at the end of May, and my trusty Lonely Planet guide informs me that the CBOT and CME public galleires have closed post 9/11 due to secuirty concerns.
Paul.
Paul.
When i went onto CME's website it said that visitors were able to view from the viewing gallery's
http://www.cme.com/abt/visit/
http://www.cme.com/abt/visit/
fillyerboots
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Sharky,
NYSE used to have a public gallery, may still be open.
Try Comex in New York. (Gold, Silver, Oil) should be quite busy right now. (Part of New York Mercantile Exchange NYMEX).
AMEX is a combined equity and options exchange in NY. They may let you in.
NYSE used to have a public gallery, may still be open.
Try Comex in New York. (Gold, Silver, Oil) should be quite busy right now. (Part of New York Mercantile Exchange NYMEX).
AMEX is a combined equity and options exchange in NY. They may let you in.
fillyerboots
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Mikeyk,
I traded on Liffe between 89 and 99, Euromarks/Euribor pits mainly although I spent time in Bunds/BTP also.
Just like an adolescent school playground, but not for the fainthearted when it was busy.
Regular laugh was to fool a blue button (learner trader) into trading a contract that had just expired.
An hour or so after say Mar had gone off the board, his booth would give him a huge order in the Mar non-existent contract. He would pile into the pit with a look of absolute fear in his eyes.
Of course everyone else would try and trade with the guy and bury him, suddenly offering lower prices and generally screaming at him.
Always managed to catch some idiot who wasn't paying attention.
I traded on Liffe between 89 and 99, Euromarks/Euribor pits mainly although I spent time in Bunds/BTP also.
Just like an adolescent school playground, but not for the fainthearted when it was busy.
Regular laugh was to fool a blue button (learner trader) into trading a contract that had just expired.
An hour or so after say Mar had gone off the board, his booth would give him a huge order in the Mar non-existent contract. He would pile into the pit with a look of absolute fear in his eyes.
Of course everyone else would try and trade with the guy and bury him, suddenly offering lower prices and generally screaming at him.
Always managed to catch some idiot who wasn't paying attention.
fillyerboots
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I think LIFFE had a lease that stipulated the floor had to be turned back into office space when it closed.
Liffe still occupies offices in the building ( above Cannon Street Station)
Liffe still occupies offices in the building ( above Cannon Street Station)
I heard that they turned the floor in to a co-location facility for servers/data centres. I don't know if its used for the connect system or they rent it to an ISP.
The floor was bomb, fire, flood, fart proof. Raised floors for cabling, air con etc so its a perfect place.
FillyerBoots - were you there when Chris Eubank came on the floor (as a visitor!)? I never laughed so much at what the stirling locals were shouting at him when they saw him in the gallery. (can't repeat it here!)
The floor was bomb, fire, flood, fart proof. Raised floors for cabling, air con etc so its a perfect place.
FillyerBoots - were you there when Chris Eubank came on the floor (as a visitor!)? I never laughed so much at what the stirling locals were shouting at him when they saw him in the gallery. (can't repeat it here!)
Bananas under newspapers to trip the unwary, cards under the collar to "Shark" the yellow jacket, sending runners to the bank with a love note for the cashier, boot polish on the telephone handset...............ah the good old days
I can't believe there aren't any better stories coming out...........
I can't believe there aren't any better stories coming out...........
I've a great one about the boot polish on the hand set. SSB had this clerk who thought her sh*t didnt stink. Came to work looking like a million dollars every day. Thought she was very 'precious'. Im sure we know the type. Anyway, my clerk just didn't get on with her. They were at it nail and tooth day in day out- you know what he did... it took her 2 hours to realise she had black polish all over her trout. (a record for her not going to the mirror in that time!) Anyway she complained to Don the floor manager. He banned him for 2 weeks - so my boss fired him. Bummer!
The 'sharks' were replaced with 'nobs' towards the end - very funny but I guess you had to be there...
Im sure there are more out there....
The 'sharks' were replaced with 'nobs' towards the end - very funny but I guess you had to be there...
Im sure there are more out there....
fillyerboots
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Eubank
Yeah I was there that day, can't remember if he walked around the floor or just appeared in the gallery up at the UK end.
One VIP? visit I remember well was Jamie Redknapp. A guy from the stirling pit rushed up to him and declared " I'm your number one fan, I've got all your records",
Whilst someone in the Euromark pit said to him " I don't have to break into a sweat to earn £ 10000 a week" ( 95-96)
I seem to remember Ali G interviewing Matthew Fosh from SGF on the Stirling balcony, don't think it ever made it on TV or his video's Foshy must have sussed him.
I miss the atmosphere, to old to get involved down at the IPE though.
Yeah I was there that day, can't remember if he walked around the floor or just appeared in the gallery up at the UK end.
One VIP? visit I remember well was Jamie Redknapp. A guy from the stirling pit rushed up to him and declared " I'm your number one fan, I've got all your records",
Whilst someone in the Euromark pit said to him " I don't have to break into a sweat to earn £ 10000 a week" ( 95-96)
I seem to remember Ali G interviewing Matthew Fosh from SGF on the Stirling balcony, don't think it ever made it on TV or his video's Foshy must have sussed him.
I miss the atmosphere, to old to get involved down at the IPE though.
fillyerboots
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Take it Off!!!
Just remembered the refrain to any visitor (Usually German) with bad clobber. Ha ha ha!
Just remembered the refrain to any visitor (Usually German) with bad clobber. Ha ha ha!
CME & CBOT pits
I went to Chicago in october last year - the CME and CBOT both having viewing galleries, but from what I gather they are no longer open to the general public due to security concerns - you cant just roll up and gain access, although you may be able to arrange something in advance if you telephone.
your best bet would be to get in touch with your broker or somebody with ties to the floor if you broke in the US, if you can get someone to take you onto the floor and tour you round it, its a lot more interesting being in the thick of the action!
I had the opportunity to get onto the floors at both exchanges and it was truly a fascinating experience!
CBOT floor housing the bonds and dow pit amongst others, is just immense! the room itself is a sight to behold, four storeys high walls covered in dealer boards... sadly, the action on the floor seemed to be light. The only pit that seemed to be truly thriving was the Eurodollar pit upstairs at the CME - nicknamed the "bananaboat" by locals, the pit is a longboat shape raised up at either end and on the sides crammed with maybe 6-700 traders. Noise levels were incredible!
The group I was with also had the chance to engage in a mock trading session with the locals just after the session closed - also an experience! I ended up short 80 cts without quite understanding how at the end of that little run.
I went to Chicago in october last year - the CME and CBOT both having viewing galleries, but from what I gather they are no longer open to the general public due to security concerns - you cant just roll up and gain access, although you may be able to arrange something in advance if you telephone.
your best bet would be to get in touch with your broker or somebody with ties to the floor if you broke in the US, if you can get someone to take you onto the floor and tour you round it, its a lot more interesting being in the thick of the action!
I had the opportunity to get onto the floors at both exchanges and it was truly a fascinating experience!
CBOT floor housing the bonds and dow pit amongst others, is just immense! the room itself is a sight to behold, four storeys high walls covered in dealer boards... sadly, the action on the floor seemed to be light. The only pit that seemed to be truly thriving was the Eurodollar pit upstairs at the CME - nicknamed the "bananaboat" by locals, the pit is a longboat shape raised up at either end and on the sides crammed with maybe 6-700 traders. Noise levels were incredible!
The group I was with also had the chance to engage in a mock trading session with the locals just after the session closed - also an experience! I ended up short 80 cts without quite understanding how at the end of that little run.
