Melissa/Peter,
Here is the information URL (among many places at the site cboe.com) where you can find out about RAES and other trading technologies. While RAES works for 10 contracts or less at the market (it works in seconds), because of the spread and most of our strategies to "split the difference", or "buy the bid", "sell the ask", we never get to the RAES system.
We therefore have to rely upon the other trading systems, like EBOOK, or FBR. I've lost option buys to other folks because my order didn't get to RAES, but I changed the bid with my order!! Not fair, but how it works sometimes.
So I've learned that since RAES handles 70% of the orders electronically, your orders (and mine) if they are not ordinary, sometimes get caught outside the standard, streamlined option system.
Enjoy this info about the CBOE trading systems (under the section Customer Driven Technologies): cboe.com
Regards,
Steve |
