[Attention Surplus Disorder]

For the most part, I agree with you, and you are correct in that I've never traded futures; only equities and equity options. What is unquestionable is that these new products, like most new products from the geniuses on Wall St./CBOT/CME are designed with the (profits of the) casino in mind.

I just thought it was a sort of interesting concept, and being generally bearish on housing, my fellow bears always ask "how do we bet on housing going down?" Other than shorting or buying puts on the homebuilders or their basket ETF.

Rgds,

[SAJ]

It was not I who said anything about whether or not you've ever traded futures. I'm merely discussing the viability of this new market.

It's all very well to be cynical and describe the exchanges as 'casinos', but it serves little purposes. No futures market will survive, as noted elsewhere, until it conveniently meets the needs of both buyers and sellers in a market. If a mkt meets those needs, then clearly some one (the exchange, in this case) has provided value to these buyers and sellers, and has therefore quite legitmately earned an honest profit.