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In one of the articles, it quoted someone from, I think, the CME, that said they were fully prepared in their trading systems to handle these negative prices wi
by perl4ever 7y ago
In one of the articles, it quoted someone from, I think, the CME, that said they were fully prepared in their trading systems to handle these negative prices with no hiccups.
What I immediately thought, that I haven't seen anyone else mention yet, is that there are some admirable programmers!
- vkou 7y agoAs someone who worked on trading software, I'd reserve the praise for the PMs - who would explain to the programmers why all this stuff is important.
- jhwang5 7y agoEx-trader at GS/MS here. PMs in this case are traders, requirements about trading systems come from traders b/c they have to dog-food it. Usually there is no separate PM in the tech world sense at banks, though there are project managers.
- ycombobreaker 7y agoAny futures market provides calendar spreads as well, which represent a price differential between two dates (think: CLK0 is the May contract, CLMO is the June contract, and CLK0-CLM0 is the difference between the two). CME's systems should trivially handle negative prices because they already have spreads, which are frequently negative.