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Why do people look for dedicated servers near the CME if they trade CL, yet CL's exchange is is NYMEX? Wouldn't it be better to have one's hosting in NY? Please forgive me if this is a stupid question... I am a newbie.
Can you help answer these questions from other members on NexusFi?
CME bought NYMEX in 2008. I am not sure what NYMEX products orders are still routed and matched in New York. But CL electronic orders are routed and matched in Chicago through CME Globex.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
If you need Aurora, PM me, and I will take care of you. But, that is if you really need subpar millisecond and the service is more expensive that Cermak.
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Many people don't know that ICE's Brent & Gasoil matching engines are in Chicago and not London!
The "pit" closes at the end of the year. So from that point onwards it will be Globex matching engine in Chicago only.
Well that depends how your order is routed. As already pointed out the Globex matching engine is in Chicago but if your broker's order servers/credit check or anything pre-trade is in New Jersey, New York or Connecticut etc, then being collocated in Chicago doesn't help you because your order has to go to NJ/NY/CT/etc first and then back to Chicago. If on the other hand your brokers order severs are in Chicago then yes it will be faster. As @mattz says though, Cermak (Huge datacenter in downtown Chicago, where ICE's matching engines are and where CME used to be), is a lot cheaper than Aurora (25 miles W of downtown Chicago, and home to the new CME data center) and the connectivity between the two is amazing.
Being hosted in Aurora makes sense if everything is done locally (data, orders, risk management), with DMA and FPGA based boxes. Using a "normal" Linux or Windows server won't be able to play in the µs field anyway.
