Who bought 220K ES contract?

leob
80

5 Posts

0

Posted - 01/14/2010 : 06:50:08

Anybody knows who did it?

day trading
1,780

4550 Posts

0

Posted - 01/14/2010 : 09:44:22

Where did you see that? There is a legal limit on the number of contracts that any one organization may control (I believe). I think that it's 3,000 - but my info might be out-dated. Anybody have an update on this?

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pt_emini
757

1487 Posts

3

Posted - 01/14/2010 : 10:53:50

From: CME Globex Control Center
Subject: ESH0 Event

Between 11:03 and 11:04 CT today, there were a series of transactions in ESH0 in which a market participant appears to have inadvertently traded approximately 200,000 contracts as both buyer and seller. CME maintains trade practice and risk management rules and procedures respecting such matters. In keeping with standard practices and CME's self-regulatory responsibilities, CME is reviewing the circumstances of this event.

JCX
100

7 Posts

1

Posted - 01/14/2010 : 13:45:50

Not sure about the "legal" part of it but you don't have to report your position until 20,000 in the big S&P. The emini says to work in conjunction with the big S&P under the emini contract specs. I believe I confirmed in the recent past that means 100,000 eminis (5 to 1) before having to report position limits.

It does not say if that is intraday or if held overnight. If only overnight then 200,000 is nothing for a market that can do a few mill in a day.

Also, if those orders whent through as both buyer and seller, then not sure if the position is even open intraday.

Check out the cme pdf http://www.cmegroup.com/rulebook/CME/I/5/5.pdf

pages 51 and 52 where note "C" stated on S&P contract = 5 emini S&P contracts. That's why I say 100,000 minis for position limits.

That 3,000 number stated may be the "single click" amount that can be traded at any one time, but you can click, click, click all day long if you want to! LOL!

JCX

stocksster
89

44 Posts

1

Posted - 01/14/2010 : 20:29:51

Check out the two articles below.

ESH0 Volume Spike Explained: Fat Finger Results In 2 Point Jump In Market...
http://www.zerohedge.com/article/esh0-volume-spike-explained-fat-finger-results-2-point-jump-market

The Fed Finger: More Observations On The ESH0 Incident...
http://www.zerohedge.com/article/fed-finger-more-observations-esh0-incident

day trading
1,780

4550 Posts

1

Posted - 01/14/2010 : 22:03:49

Here are all the trades with over 500 contracts in a single trade from that spike. Almost all of the 12:03:37 were on the ask side.



10:06:34	1133.50		656

10:58:11	1132.25		500

11:05:12	1132.00		500

11:16:54	1132.25		550

11:23:11	1134.75		500

11:30:38	1136.00		686

12:03:23	1137.00		1000

12:03:23	1137.00		500

12:03:37	1137.25		505

12:03:37	1137.25		566

12:03:37	1137.25		549

12:03:37	1137.25		589

12:03:37	1137.25		644

12:03:37	1137.25		550

12:03:37	1137.25		630

12:03:37	1137.25		717

12:03:37	1137.25		745

12:03:37	1137.25		663

12:03:37	1137.25		535

12:03:37	1137.25		689

12:03:37	1137.25		539

12:03:37	1137.25		670

12:03:37	1137.25		558

12:03:37	1137.25		645

12:03:37	1137.50		578

12:03:37	1137.50		702

12:03:37	1137.50		668

12:03:37	1137.50		715

12:03:37	1137.50		613

12:03:37	1137.50		501

12:03:37	1137.50		725

12:03:37	1137.50		559

12:03:37	1137.50		557

12:03:37	1137.50		742

12:03:37	1137.50		545

12:03:37	1137.50		575

12:03:37	1137.50		750

12:03:37	1137.50		553

12:03:37	1137.50		574

12:03:37	1137.50		759

12:03:37	1137.50		566

12:03:37	1137.50		574

12:03:37	1137.50		767

12:03:37	1137.50		586

12:03:37	1137.50		556

12:03:37	1137.50		771

12:03:37	1137.50		596

12:03:37	1137.50		570

12:03:37	1137.50		780

12:03:37	1137.50		597

12:03:37	1137.50		577

12:03:37	1137.50		795

12:03:37	1137.50		632

12:03:37	1137.50		545

12:03:37	1137.50		810

12:03:37	1137.50		707

12:03:37	1137.50		817

12:03:37	1137.50		804

12:03:37	1137.50		763

12:03:37	1137.50		849

12:03:37	1137.50		575

12:03:37	1137.50		631

12:03:37	1137.50		854

12:03:37	1137.50		721

12:03:37	1137.50		867

12:03:37	1137.50		848

12:03:37	1137.50		783

12:03:37	1137.50		894

12:03:37	1137.50		627

12:03:37	1137.50		634

12:03:37	1137.50		903

12:03:37	1137.50		821

12:03:37	1137.50		797

12:03:37	1137.50		963

12:03:37	1137.50		813

12:03:37	1137.50		510

12:03:37	1137.50		762

12:03:37	1137.50		1017

12:03:37	1137.50		1020

12:03:37	1137.50		750

12:03:37	1137.50		545

12:03:37	1137.50		819

12:03:37	1137.50		1024

12:03:37	1137.50		956

12:03:37	1137.50		684

12:03:37	1137.50		615

12:03:37	1137.50		890

12:03:37	1137.50		1044

12:03:37	1137.50		911

12:03:37	1137.50		615

12:03:37	1137.50		734

12:03:37	1137.50		1033

12:03:37	1137.50		1057

12:03:37	1137.50		787

12:03:37	1137.50		565

12:03:37	1137.50		855

12:03:37	1137.50		1069

12:03:37	1137.50		995

12:03:37	1137.50		713

12:03:37	1137.50		643

12:03:37	1137.50		927

12:03:37	1137.50		1080

12:03:37	1137.50		883

12:03:37	1137.50		548

12:03:37	1137.50		534

12:03:37	1137.50		898

12:03:37	1137.50		1084

12:03:37	1137.50		921

12:03:37	1137.50		516

12:03:37	1137.50		571

12:03:37	1137.50		916

12:03:37	1137.50		1093

12:03:37	1137.50		871

12:03:37	1137.50		624

12:03:37	1137.50		1028

12:03:37	1137.50		1102

12:03:37	1137.50		775

12:03:37	1137.50		729

12:03:37	1137.50		1111

12:03:37	1137.50		1100

12:03:37	1137.50		708

12:03:37	1137.50		763

12:03:37	1137.50		1127

12:03:37	1137.50		1111

12:03:37	1137.50		725

12:03:37	1137.50		786

12:03:37	1137.50		1131

12:03:37	1137.50		1090

12:03:37	1137.50		705

12:03:37	1137.50		815

12:03:37	1137.50		1135

12:03:37	1137.50		1066

12:03:37	1137.50		717

12:03:37	1137.50		812

12:03:37	1137.50		1143

12:03:37	1137.50		1089

12:03:37	1137.50		712

12:03:37	1137.50		820

12:03:37	1137.50		1170

12:03:37	1137.50		1185

12:03:37	1137.50		849

12:03:37	1137.50		688

12:03:37	1137.50		1041

12:03:37	1137.50		1189

12:03:37	1137.50		983

12:03:37	1137.50		536

12:03:37	1137.50		573

12:03:37	1137.50		952

12:03:37	1137.50		1088

12:06:29	1138.50		500

12:08:04	1138.00		500

12:22:07	1137.75		500

12:37:36	1140.50		500

12:37:49	1140.50		572

12:58:20	1139.75		500

13:50:18	1138.50		513

14:33:20	1140.50		592

15:25:41	1142.50		500

15:27:21	1143.25		660

15:27:45	1143.25		974

15:28:15	1143.50		500

15:28:21	1143.50		980

15:29:52	1143.00		629

15:37:04	1144.00		500

15:37:49	1144.00		509

15:51:48	1143.50		500

15:51:55	1143.25		500

15:56:22	1142.75		511

15:56:42	1142.75		572

15:56:43	1142.75		672

15:59:17	1142.25		600

15:59:24	1142.00		500

15:59:30	1142.00		500

15:59:52	1142.00		500

15:59:58	1142.25		500

16:00:00	1142.00		683

16:00:06	1141.75		693

16:00:46	1141.50		500

16:03:47	1141.75		500

16:14:17	1141.50		500

16:14:17	1141.75		931

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