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CME Rule 575

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Legendary Market Wizard
Houston, TX
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
Posts: 3,075 since Dec 2013
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Big Mike View Post
I strongly disagree. Naturally @artemiso has more experience in this area than me, and I hope he comments. But it seems to me the new rules are just a show and have loopholes big enough to drive an armored truck full of the money they made trading against these rules through them.

I agree completely. As mentioned already I think everything outlined is already against the rules.

Big Mike View Post
Basically it's just a matter of intent/opinion. "But sir, when we placed that order, we would have been willing to get executed on it. Unfortunately, that didn't happen and was out of our control, so we had to cancel it". x 1 million per day.

But that was sort of my point. If the Algo is programmed to send the cancel immediately after the order was sent, and before anybody else at the exchange could ever possibly react to it, you really have proof that there was no intent to trade. But as you have pointed out, if you can't see the code, you don't have the proof.

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