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Strategies & Market Trends : Canadian Options -- Ignore unavailable to you. Want to Upgrade?

To: Lloyd R who wrote (1507)	4/11/2000 6:34:00 AM
From: Porter Davis	Read Replies (1) \| Respond to of 1599

>>I have a question about BCE options... There is a, umm, quirk with the trading system here that causes the effect you describe. When an incoming electronic order hits our bid/offer, the system 'blanks' that side of the market for thirty seconds to allow us to respond to the order. After that time our market is restored. It certainly wouldn't be the way I would design it, but since our markets are always live and guaranteed, they built in some protection against having the same bid hit multiple times. I don't want to be too critical of my new "hosts", but this system is to say the least cumbersome. There is a printer next to my elbow which constantly spits out tickets, which can range from orders to fills to system notices to CFOs and CXLs. Every one is a potential stick of dynamite if you miss it. In my opinion we do even more work here that is properly the responsibility of the broker than we did in Toronto. I am more of a file clerk than a specialist here. Hopefully in time we can get some of this changed to be more balanced, but right now I feel like the goat staked out for the lion. And what gives with the weather? Does it always snow this much in April in Montreal? Sheeesh. I am happy to report that my French is getting better; the first day I ordered a "box" of water, but have now improved. I have a comfortable apartment in a nice part of town, and I really am impressed with Montreal. Very cosmopolitan and friendly, and if I may be a touch chauvinistic, the ladies are stunning. They are always well-turned out and -dressed. Vive la difference! Happy trading. Porter