ESH888

1.6K posts

ESH888

ESH888

@ESH888

Former CME trader

Chicago Katılım Ağustos 2010
241 Takip Edilen161 Takipçiler
ESH888 retweetledi
Patrick Bet-David
Patrick Bet-David@patrickbetdavid·
Today is Armenian Genocide Remembrance Day. We remember 1.5M Armenians, 500K Greeks & 300K Assyrians murdered by the Ottoman Empire. A tragedy meant to erase a people that failed. It didn’t break them, instead it forged them. Today, their descendants lead, build, and rise across the world. Future looks bright!
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MrTopStep
MrTopStep@MrTopStep·
@CMEGroup Terry Duffy is a hot mess. Its hard to keep a straight face when you are lying your ass off. CHANGE IS COMEING TO THE CME BOARD- BLOOD PRESSURE BOTHERING YOU? #MrRedFace
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ESH888
ESH888@ESH888·
@JPNFamilyOffice He describes the case mostly correctly except for one key point, the CME board of Directors didn't fully buy out the members during demutualization.
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MrTopStep
MrTopStep@MrTopStep·
@CME PAY UP Understanding #Langer vs. #CME: What This Case Is Really About 
The Chicago Mercantile Exchange (CME) was originally founded to furnish a convenient meeting place where members might buy and sell commodities: promote uniformity in the customs and usages of the trade: gather and impart general information useful to members: facilitate the speedy adjustments of any business disputes that might arise among members: and to secure the full benefit of cooperation in the furtherance of members’ legitimate pursuits. For decades, this mutual structure served the membership well. But as electronic trading emerged and reshaped the markets, the CME found itself constrained by its mutual ownership model — a structure that prevented it from profiting from the growing demand for access and technology. The solution was demutualization: a restructuring that would turn the CME into a for-profit corporation while preserving members’ core trading rights. In theory, this meant separating financial interest (Class A shares) from trading rights (Class B shares) — with both remaining intact and accessible to full members. At the time, Class B shareholders were assured that nothing was being taken away. They were told they’d retain full rights — open outcry and electronic — and that the demutualization would not diminish their ability to access the exchange’s evolving trading venues. These commitments were made not just to the members but also to federal regulators, including the IRS, SEC, and CFTC. Yet what has unfolded since tells a very different story. In practice, the CME’s leadership has increasingly undermined the value and meaning of B shares for many members — not by accident, but through deliberate policy shifts and quiet redefinitions. Core electronic trading access — once promised as part of B share ownership — has been systematically stripped from some, while others have retained or even expanded their privileges. A tiered structure has emerged, where select firms and favored members enjoy preferential access, co-location advantages, and custom fee arrangements — all while other B shareholders, supposedly equals, are sidelined. This isn’t just about a broken promise — it’s about an engineered transfer of value. The revenue generated from the Aurora Data Center (ADC), the modern electronic trading floor, should rightly flow to those who hold the original trading rights. Instead, that value has been rerouted: to Class A shareholders, who benefit from the growing profits, and to a subset of B shareholders granted special treatment. The rest? Left with diminished rights and no say. Langer vs. CME is not just a technical dispute over membership tiers or legacy documents. It’s a case about whether a powerful few — including the CME’s leadership — manipulated the process and promises of demutualization to enrich themselves and select allies at the expense of other rightful stakeholders. It’s about the erosion of fairness, the betrayal of members who built the exchange, and the weaponization of ambiguity to justify exclusion and profit extraction. Both open outcry and electronic trading happen on a trading floor — whether it’s a physical pit or a data rack in Aurora. And just as location mattered in the old days, it matters now. But the transparency of the physical floor is gone, replaced by an opaque system where privileged access, special deals, and selective enforcement determine who wins. Ultimately, this case is about defending the integrity of the original agreement and ensuring that those who own the floor — in name and in right — are treated as more than just legacy holders. It’s about exposing how the B shares of some were trampled to benefit a select few B members and, ultimately, to feed the value of Class A equity. It’s time to restore what was promised and hold those responsible to account.
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ESH888
ESH888@ESH888·
@swingtrader When discussing with physician to avoid, he wasn't thrilled. 1 simple question changed the discussion. I asked if he personally examined each dose to confirm authenticity and safety, and if He knew without a doubt what he was injecting. He never pushed it again.
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ESH888
ESH888@ESH888·
@swingtrader Ant, this is anecdotal but my kids are 15,12, never vaccinated, both honors kids, were sick probably 1/3 of the time compared to friends who vaccinated their kids. let them roll around in dirt, we took them out everywhere(didn't shelter from public), but we stressed a clean diet
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ESH888
ESH888@ESH888·
@swingtrader when my Doc questioned my hesitancy, I simply asked if he personally inspected the contents of each vial. I didn't bother with side effects or efficacy. He gave me a smirk and never asked again.
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ESH888
ESH888@ESH888·
@swingtrader Cograts on the baby Ant. No matter what life throws at you, nothing beats the birth of your child. Mine are 15 and 12 now, time flies enjoy every moment. God Bless
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Emini tic
Emini tic@TicTocTick·
Who you blame for market sell off?
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ESH888@ESH888·
@kanyewest You all seriously can't comprehend what Kanye is trying to convey?
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ESH888
ESH888@ESH888·
@LongTplexTrader Wow this brings back memories. CME clearingbroker statements all looked like this.
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M Lebon
M Lebon@LongTplexTrader·
Was rummaging though an old banker box I was about to throw out......found this old statement back from 2006...brought back a smile....... Back in the day when all I did was push and shove #ZB_F & #ES_F for a family office... The commissions & fee's they paid 👀 And this was before we were trading through TT - I called in the trades......and then watched.
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ESH888
ESH888@ESH888·
@realDonaldTrump @elonmusk should we pay our property taxes or do you guys have something in the works to abolish it? 1st instalment due by March.
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ESH888
ESH888@ESH888·
@JackKennedy Plot twist, he's a grade school friend madly in love with her awaiting his chance.
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Kenjac
Kenjac@JackKennedy·
Christ man, this is bleak
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ESH888
ESH888@ESH888·
@MarioNawfal Anyone else see a close resemblance to Mitt Romney?
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Mario Nawfal
Mario Nawfal@MarioNawfal·
🇺🇸 REMINDER: GAVIN NEWSOM & NANCY PELOSI’S FAMILY TIES Gavin Newsom and Nancy Pelosi share more than political alliances—they’re family. Pelosi’s brother-in-law, Ron Pelosi, was once married to Newsom’s aunt, Barbara, linking the two through decades of family ties. The Newsoms and Pelosis have celebrated holidays, including Christmas, together over the years, highlighting their close-knit bond. Newsom has often credited Pelosi’s family as a source of inspiration and mentorship in his political career. Source: Los Angeles Times
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Mario Nawfal@MarioNawfal

Why is Gavin wiggle dancing when he says: “Speculators buying up properties…” After the fires destroyed everything… Aunt Pelosi gonna make more money or something?

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