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Who bought 220K ES contract?


Anybody knows who did it?
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?
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.
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
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
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