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Strategies & Market Trends : SOES Trading
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To: Rubble who wrote (1418)4/19/1998 11:02:00 PM
From: cp   of 1618
 
rubble-thanks for the compliment but is it really so extravagant to be a mkt maker? mkt makers commit capital to institutional clients. we take the other side of the trade whether we like it or not. we carry large positions sometimes over night- something soes guys rarely do. also we ALWAYS honor our mkt. sometimes we get "soes ahead" from other mkt makers when we try to hit or take stocks. this is because soes traders have the unfair advantage of electronically soesing mkt makers and we must use select net. also having retail orders does not mean you automatically make money. we must display our orders of less than 10,000 shares and trade flat absorbing the trading costs. also when our analyst downgrade a stock and i get 50 sell orders and the stock is being hit be soes traders it is difficult not to lose money. my job is to execute orders for the firms customers and try not to lose money for the firm.
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