BIG DOW HOPELESS?

“Frankly, if you look at the number of exchange traded funds out there, you could wallpaper your hall with most of them, because they are not being used for anything else.”

Strange words especially if you consider who said this: they are from Robert Ray who is senior vice- president of business development at the CBOT, so the man also responsible for these numbers of traded products out there. CBOT offering the big DOW now, but still after two weeks volume still very low, only in the (lower) hunderds a day.

Of course the CBOT rivals CME for customers fiercely. The competition between exchanges is leading to strange products, such as european weather futures which seems to me to be more some kind of betting product, beyond other things as the extension of opening hours of the NYSE and others.

Here is an interesting discussion about the big DOW, some of them propose to eliminate the 10$ dollar DJIA future.
I think the bigger players won't get attracted so easily to the DOW. They trade the the ES and/or the big SP and why would they change? The DOW for them not being the benchmark of the US economy but the S@P is.

Dow Jones
BIG DOW future