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Strategies & Market Trends : From the Trading Desk

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To: Jim Lass who wrote (4001)	12/22/1998 2:24:00 AM
From: steve goldman	Read Replies (1) of 4969

Morning Jim, Head cold keeping me...i'll keep it short and sweet... We have a Reuters Plus system which shows a 'montage' of sorts, displaying the various exchanges quotes on the various exchanges for a aprticular exchange.. ie... AMEX DLQ JAN 90 29 1/2 x 29 5/8 CBOE DLQ Jan 90 29 3/8 x 29 3/4 PCOS DLQ JAN 90 29 9/16 x 30 YOu get all the exchanages which trade the options. THis permits me to then route the options to the exchange which has the best quote for my side of the transaction. Many firms simply route to one exchange...ie.. we are members of AMEX> If I route to Amex, I dont have to pay floor brokerage fees. Its achearper trade, but if it isnt the best market, you are only doing a disadcantage to the client. ie. in the above example, my amex broker would be good if I was selling the calls, but not if I was buying. There I would use an auto system on another exchange. MIght cost a penny more but the client would probably do better. Good nite! Steve@yamner.com

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