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re: Options, strategies & exchanges
Paul Lindley / LIFFE
14 Apr 1999 11:36AM ETFrom John Armstrong...
>
> The issues with strategies are as I understand them:
> 1) They are to be traded as a whole, so you really want executions to come back treating the - say - calendar spread as one instrument with maybe partially fills on the whole spread rather than fills on the underlying options making up that spread. You don’t want the Jan part all filled without the Dec part being worked at all.
I disagree. A trader would want to see whatever partial fill as soon as it is available to him. If one wishes to see the whole, that’s up to their system to display it as such.
> 2) IOIs and quotes. Getting the best price and the current order book depth.
>
> Strategies are closer to an instrument in their own right rather than equity basket trades which are more attuned to the current list order model.
> Danny
> PS is it OK for me to post some of this?
>
>
re: Options, strategies & exchanges
Paul Lindley / LIFFE 14 Apr 1999 11:36AM ET
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