Timber Hill first came out with their electronic routing system not longer after the Dow 30 contract began trading on the CBOT. There was this CME deck handler who wanted to be an S&P local at the time.


So what he would do, when he moved a big order through his deck or saw a big order moving through, is call a retail broker a few blocks away. The retail broker would use his new electronic system to fire in a Dow future order to the CBOT for the CME S&P deck handler.


The Dow order would hit the CBOT broker at about the same moment the big S&P order hit the tape. The Timber Hill filler would get the last price before the Dow future followed the S&P.


I saw hime making like 8 or 12 points every time. Not long after, that fella became a CME local


leroy