Phil, oops! I mean Vectra--get your facts straight before you call me a liar. If you like, I will get you the OFPC meeting minutes from the 1986-7 period where we went on record requesting an electronic book. We were not dragged 'kicking and screaming' into MOST trading. Rather, we worked with exchange programmers to develop the auto-rotate system, which ensured that our quotes were instantly updated and we could end the laborious and frustrating necessity of constant manual rotations. To suggest that somehow Leaps were a product developed to resuscitate the Canadian options market is a gross distortion. Leaps was developed and is copyrighted by the CBOE, and are liscenced to the TSE. I have been a specialist on ABX Leaps since shortly after they were introduced here, and they are no great shakes. The vaunted margin reforms you mention are a joke. Whatever...I won't bore this thread with any more 'inside the beltway' carping.
Why don't you stop hiding behind anonymity, taking potshots? Tell everyone who you are and what you bring to the party. Tell us where you stand on the issue of "non-member" principal accounts, a loathsome little ruse that Exchange counsel and senior staff tried to abolish, but were thwarted by you and your 'upstairs' cronies.
"holier than thou", am I? Well, you said it. I think you are ethically challenged. Who tried to abolish client priority? You people. Who fought (and won) to preserve it? The specialists, COTS, and order traders. I tell you pal, where the rubber meets the road, you're nowhere to be found.
(To everybody else):
Happy trading.
Porter |
