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CME Rule 575
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Created: by hadamkov Attachments:1

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CME Rule 575

  #1 (permalink)
MATrader
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CME Rule 575

I could not find it anywhere on the forum, so here it is. The rule will become effective on Monday, September 15th.

Successful trading.

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CME Rule 575-rule-575-cme.pdf  
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  #2 (permalink)
Quick Summary
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
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I posted about it in the HFT thread on the 8th, but have directed people to use this thread now.

Mike

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  #4 (permalink)
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From that Thread...

DarkPoolTrading View Post
As per Mike's post:
CME group rule 575: Disruptive practices prohibited.

Sounds good to me?

Thoughts?

http://www.futuresindustry.org/webinars/downloads/Disruptive%20Practices%20Prohibited%20Rule%20(9-11-2014).pdf

There's also an attachment of a presentation on Rule 575.

Personally my opinion...

SMCJB View Post
I thought everything they mention was already illegal, and the last page of the presentation even states that.
"Disruptive practices, such as those detailed in proposed Rule 575,
have always been prohibited by the CME Group exchanges, and
have been prosecuted under the general provisions of Rule 432. "
So given that what does this new rule actually mean? Is it just rhetoric or are they going to start enforcing it when they didn't previously enforce it under Rule 432? If so why weren't they enforcing it already?


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  #5 (permalink)
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Rule 575. Disruptive Practices Prohibited
All orders must be entered for the purpose of executing bona fide transactions. Additionally,
all non-actionable messages must be entered in good faith for legitimate purposes.
A. No person shall enter or cause to be entered an order with the intent, at the time of order
entry, to cancel the order before execution or to modify the order to avoid execution;
B. No Person shall enter or cause to be entered an actionable or non-actionable message
or messages with intent to mislead other market participants;
C. No Person shall enter or cause to be entered an actionable or non-actionable message
or messages with intent to overload, delay, or disrupt the systems of the Exchange or
other market participants; and
D. No person shall enter or cause to be entered an actionable or non-actionable message
with intent to disrupt, or with reckless disregard for the adverse impact on, the orderly
conduct of trading or the fair execution of transactions.
To the extent applicable, the provisions of this Rule apply to open outcry trading as well as
electronic trading activity. Further, the provisions of this Rule apply to all market states,
including the pre-opening period, the closing period and all trading sessions.

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  #6 (permalink)
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Massive l View Post
Rule 575. Disruptive Practices Prohibited
All orders must be entered for the purpose of executing bona fide transactions. Additionally,
all non-actionable messages must be entered in good faith for legitimate purposes.
A. No person shall enter or cause to be entered an order with the intent, at the time of order
entry, to cancel the order before execution or to modify the order to avoid execution;
B. No Person shall enter or cause to be entered an actionable or non-actionable message
or messages with intent to mislead other market participants;
C. No Person shall enter or cause to be entered an actionable or non-actionable message
or messages with intent to overload, delay, or disrupt the systems of the Exchange or
other market participants; and
D. No person shall enter or cause to be entered an actionable or non-actionable message
with intent to disrupt, or with reckless disregard for the adverse impact on, the orderly
conduct of trading or the fair execution of transactions.
To the extent applicable, the provisions of this Rule apply to open outcry trading as well as
electronic trading activity. Further, the provisions of this Rule apply to all market states,
including the pre-opening period, the closing period and all trading sessions.

HAHA @srgtroy. This could affect your trading style...

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Intent is hard to prove.

Sent from my LG Optimus G Pro

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What is a non-actionable message? Is it a pit thing like giving someone the finger?

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  #9 (permalink)
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tturner86 View Post
What is a non-actionable message? Is it a pit thing like giving someone the finger?

Flooding the channel with bid ask changes well beyond the current last, or other changes that consume bandwidth and cause latency, giving advantages to those who are doing it.

Sent from my LG Optimus G Pro

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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bS


seems like political pressure has won it and now created a rule/law which is totally left up to interpretation by an agency that has been proven to be maybe not so.
My 2 cents

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