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CL today - interpretation of tape / time and sales data

  #19 (permalink)

Texas, USA
Trading Experience: Advanced
Platform: X_TRADER Pro, Custom
Broker/Data: NxCore
Favorite Futures: Futures, Spreads
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Posts: 224 since May 2014
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SMCJB View Post
I believe on CME you have the option for spreads to either hit your account at current market prices, or for the front leg to always use the previous settlement price. Note that in first case, the buyer and seller of the spread could choose different options - it doesn't matter.

I wasn't aware of this. I get filled on both the screen (via TT) and OTC block (Clearport via voice broker). The legs are always shown executed at the current market price. Where did you come across this option? I am just curious how it would work if the previous settle was chosen for the front leg. The back would have to be a calculated number based on where the spread was filled relative to the front's previous settle. You are right, both parties would have to agree. Maybe this exists as an option on clearport for block orders?

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