There Was A One Second No-Holds-Barred Trader Free-For-All After Today's Chicago PMI

cme fight

This, ladies and gentlemen, is how the game is played.

In the one second that “premium subscribers” (who get PMI data one second before the rest of the market) had alone time with the Chicago Purchasing Manager’s Index (PMI) number this morning, trade and quote activity went completely gang busters.

This is obviously a massive trading activity for all of Wall Street. But it’s amazing what a select group of traders can do in just one second thanks to high speed trading technology.

It was a firefight, and Nanex sent us the break down.

From Nanex:

  • 550,000 SPY shares
  • 10,000 June 2013 eMini futures contracts
  • 1,400 Nasdaq 100 futures contracts
  • 800 Dow Jones futures contracts
  • 350 Russell 2000 futures contracts
  • 125 S&P 400 Midcap futures contracts
  • 300 Crude Oil futures contracts
  • 900 Dollar Index futures contracts
  • 800 Gold futures contracts
  • 10,000 10yr T-Note futures contracts
  • 2,500 5yr T-Note futures contracts
  • 3,500 T-Bond futures contracts
  • 5,000 Eurodollar futures contracts
  • 750 Japanese Yen futures contracts
  • 600 Euro futures contracts

In just one second.

The video below showed the first 100 milliseconds of trading slowed down to about a minute and a half. Don’t have a seizure while you watch.

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