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Non-Tech : Amati investors
AMTX 1.380+0.4%Dec 24 12:59 PM EST
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To: SPEEDRACER who wrote (27424)10/19/1997 3:32:00 PM
From: John Hunt   of 31386
 
[ Option Question for Speedracer ]

Hi Speedracer,

Can you explain what happens when I place an option buy or sell between the bid and ask on the options exchanges?

My basic understanding is that we have purely a market maker system and that there is no preference given to customer orders ... Is this correct? Do customer orders rank at least equally to market maker orders?

Do most brokers sit on the order until the matching quote is posted or do they submit the order to a computerized matching system for limit orders?

Any light you could shed would be appreciated.

Thanks,

John

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