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Strategies & Market Trends : Option Spreads, Credit my Debit
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To: KFE who wrote (802)7/13/1999 9:06:00 PM
From: Jon Tara  Read Replies (1) of 2317
 
I'm not sure what advantage "option ECNs" would give anybody.

They were needed for NASDAQ, because the brokers would not represent your order as the new bid or ask.

For options, though, if you place an order between the bid and the ask, your order WILL be represented to the market, and the specialist is obligated to let it trade ahead, to boot.

You are dealing with illiquid options. An ECN isn't going to change anything for illiquid options. If the spcialist weren't there to make a market, the spreads would be even wider.
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