To the R Finance Community:
 
I have some exciting news. I am announcing the formation of the worlds'
first futures exchange built entirely on open source software, pending
regulatory approval.
 
As modern exchanges become all-electronic, the cost of sofware has driven up
exchange fees. We can end that by creating an exchange built on free
software. That will lower transaction costs, creating a market place where
anyone can trade inexpensively. By publishing the key software components,
we hope to encourage the formation of other, new futures exchanges,
literally around the globe; or, for that matter, in your basement.
 
The initial implementation will be written in R and LISP. Volunteers are
needed immediately to begin the important work of coding the system before
core team members can iron out the specifications.
 
A large, Chicago-based futures exchange has tentatively agreed to provide
the necessary server farm, although no public announcement is available at
this time. A highly-placed exchange official, wishing to remain anonymous
for obvious reasons, says, "Many of us at [the exchange] are sick and tired
of running a for-profit corporation. We long for the good old days when the
exchange existed solely for the public good, not just for the benefit of
some greedy bastards in Chicago. This is our way of giving back to the
community."
 
Initial products will include futures on the most under-served segments of
the commodity markets, including fuel oil for delivery in Cushing, Oklahoma
(symbol: FOO), West Texas fuel oil (WTF), and natural fertilizer (BS).
 
The new exchange is tentatively named the Fully Open On-Line Exchange. Our
schedule is ambitious, but we hope to be fully operational one year from now
on April 1.
 
Please consider supporting this important project. I'll be accepting cash
donations very soon. Thank you.
 
Paul Teetor
Elgin, IL   USA
http://www.linkedin.com/in/paulteetor
 
"For quant traders, there are no bad days in the market. It's just more
data."
 

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