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If NYMEX pit is all electronic, why the volume at 2:30 pm ET?
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If NYMEX pit is all electronic, why the volume at 2:30 pm ET?

 
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If NYMEX pit is all electronic, why the volume at 2:30 pm ET?

I see the volume on open outcry posted on the cmegroup for nat gas for example, NG is 84 and total volume is over 100k is this accurate? Are there still floor traders in a NYMEX pit somewhere in NYC or NJ? And if the contract is electronic, but pit time ends at 2:30 pm ET, then why would the volume be 10k at 2:30pm ET, rather than spread out or even going on until around 4pm?

 
 
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jaytrades View Post
I see the volume on open outcry posted on the cmegroup for nat gas for example, NG is 84 and total volume is over 100k is this accurate? Are there still floor traders in a NYMEX pit somewhere in NYC or NJ? And if the contract is electronic, but pit time ends at 2:30 pm ET, then why would the volume be 10k at 2:30pm ET, rather than spread out or even going on until around 4pm?


The exchange sets 2:30 PM as the settlement time for the day. A lot of people are trying to trade at or near settlement price. Margins are calculated based on this time and price, too.

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Ok, looks like it's not as hot in CL and other markets, thanks.

I found some info on the floor, as of the end of 2013 it looks like there is still a small amount of traders on the floor....
Nymex Floor Trading

 
 
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Extremely active markets around the open and close especially in high volatility. Particularly NG over the recent weeks due to the colder than expected winter coming back when we thought it was finished.


 



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