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

To: Porter Davis who wrote (929)	3/25/1998 7:31:00 PM
From: Vectra	Read Replies (1) \| Respond to of 1598

Wheeeee! I knew I would get a response, but never one so defensive. I will keep my response short for the benefit of everyone else here and reply in private to Porter about some other things. However to answer your questions; Yes I know that LEAPS where developed based on the U.S. model, however your committee made changes that were adopted by other North American Exchanges - that is a credit to the work the Committee and Committee's did. My anonymity is a personal choice. I am all for the abolishment of non-member principal accounts, however I am also in favour eliminating the client priority rule. How does eliminating client priority rule establish me as ethically challenged. As I clearly stated in my previous posts time stamping should be the criteria for all trading, first in first out - it really is so simple. Stay tuned for more riveting conversation! Vectra

To: Porter Davis who wrote (929)	3/25/1998 9:31:00 PM
From: Vectra	Respond to of 1598

Uhh, one more thing, as I said there seems to be serious memory problems here... Just to jog your memory, MOST was not your auto-rotation module (ARM) it was an electronic means to ensure that market orders entered electronically would receive immediate fills based upon the market quote at that time, limited of course to a maximum of 10 contracts. The ARM project was developed for the use of the Specialists, in order to eliminate bad or inproper quotes and to ensure the Specialists were not being picked off. V