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High-Speed, Electronic Order Routing & Fill Reporting

Concerned that your orders aren't being executed in a timely manner? Tired of waiting for your fills? XPRESSTRADE has the ability to route many of your orders directly–without human intervention–to electronic trade matching engines (such as Globex2) or electronic order management devices used by floor brokers standing in the trading pits. Fill confirmations on such orders are transmitted back to you using the same high-speed, electronic routing, often in just seconds! Orders in markets where electronic trade matching or electronic broker devices aren't available are transmitted to desks on the trading floors of the exchanges or to the XPRESSTRADE Trading Center. Our goal is always to deliver faster order execution and fill reporting.

Where Do My Orders Go?

• Globex2 Electronic Trade Matching System

  Whenever possible, XPRESSTRADE routes your orders directly to the Chicago Mercantile Exchange's Globex2 system for electronic execution. Orders and fill confirmations flow directly between your PC and Globex2, with no human intervention. Fill confirmations on market orders are reported back to you within seconds.

• Electronic Broker Devices in the Trading Pits

  In markets where such equipment is available, we electronically route your orders directly to filling brokers standing in the trading pits near a CUBS (Chicago Mercantile Exchange Universal Broker Station) terminal or EC (Chicago Board of Trade Electronic Clerk) device. Orders sent to these filling brokers flash before them and are automatically organized within their electronic order decks. When the filling broker executes your order and keys the fill information into the electronic device, a confirmation speeds back to the originating trader within seconds.

• Trading Floor Desks

  In some instances, XPRESSTRADE routes orders to desks on the trading floor, where the orders automatically print and are delivered to the pit either by using hand signals (for "flash fills") or by a runner. When an order is filled, information is entered into the XPRESSTRADE system, and your account is updated online. This order routing procedure is used only in markets where suitable electronic broker devices in the trading pits are not available.

• XPRESSTRADE Trading Center

  Orders which cannot be routed to Globex2, electronic broker devices in the trading pits, or printers at trading desks on the exchange floors are routed directly to the XPRESSTRADE Trading Center in the Chicago Mercantile Exchange. XPRESSTRADE clerks then send the orders to trading desks on the exchange floors using order entry hotlines, and the orders are delivered to the pits using hand signals (for "flash fills") or by runners.