COMEX Online Trade Entry: Members Do It Themselves
THIS WEEK'S LEAD STORIES
When a backlog of unmatched trades threatened to overwhelm the Commodity Exchange Inc. this spring, the clearing system became the whipping-boy. As a result, the Comex board of directors approved an automated trade-entry system that will shift much of the burden of entering data to its 57 clearing members.
The Way It Is
Under the Comex's current trade-entry system, tickets written on the floor are shuttled downstairs by clerks. In the cavernous checking room, member firms maintain desks manned by
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