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Strategies & Market Trends : Canadian Options

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To: Vectra who wrote (694)	10/21/1997 5:53:00 PM
From: Dave.S	Read Replies (1) of 1598

Vectra: You are correct that my last statement about option automation leading to more stops being triggered was false. I got the logic of my argument mixed up. I switched from discussing illiquid stocks to options. Thanks for catching it! You are also correct in saying that the option market in Canada has little impact on the equity markets except at expiry times. The "manipulation" which occurs at expiry usually has short term influence. Don't get me wrong - the option market needs to be automated in Toronto. The tedious paper flow system currently in place is a burden and leads to occasional "break downs" such as what happened in the TXO pit after the last referendum in Quebec. It's just the new rule set which is being implemented without much input from the traders is what has Porter and others upset. You sound knowledgable in this area. What do you feel can be done to improve the options business in Canada? Dave

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