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Pam and Russ Martens: Does the NY Fed's trading floor near the futures exchange in Chicago cause the gyrations in the stock market?

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Thursday, April 7, 2022

The editor of Wall Street On Parade has been watching stock market trading patterns for more than three decades -- 21 of those years at two Wall Street firms. 

A new pattern is emerging that strongly suggests there is an invisible hand flipping the market on a dime from a plunge in prices to a dramatic spike in prices. 

This could happen legitimately if sudden positive news broke, but it is happening regularly with no major news to explain the dramatic shift in sentiment. 

... Dispatch continues below ...



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On January 31 Wall Street On Parade reported that the New York Fed, which is the only one of the 12 regional Fed banks to have a trading floor -- complete with those expensive Bloomberg data terminals and speed dials to Wall Street's biggest trading houses -- had decided for some reason after 100 years of operation that it needed a second trading floor in Chicago. 

What does Chicago have that New York does not have that might come in handy to those traders at the New York Fed? 

The Chicago office of the New York Fed sits close to the Chicago Mercantile Exchange, where S&P 500 futures are traded, as well as other futures contracts. 

The closer one is to the computers that process those S&P 500 trades, the bigger the trading advantage. ...

... For the remainder of the analysis:

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