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

To: Tommy D who wrote (933)	3/25/1998 10:47:00 PM
From: Dave.S	Respond to of 1598

Tommy: I want to thank you for raising this issue because it brings up a subject which must be dealt with at the exchange. I would suggest that if the Quebec referendum were held today the TXO pit would still not be able to handle the volumes that we saw when you faced your problem. I would say it is safe to trade the TXO's today but until changes are made avoid it when discrete events are taking place, such as election results, which may move the markets large in one direction or another. During the volatile markets which we had last October, the TXO pit operated very well with very few interruptions to trading. In most situations where the TSE equity options are interlisted with the US, the TSE equities and options almost always open before the US Market Makers open their stocks and options. This is always the case in NNC, NTL, ABX, N, and others. In fact NT can be delayed for up to 30 minutes some mornings on the NYSE while NTL will open without delay in Toronto. In many repects the TSE options are more fair to the client and are easier to trade then the US listed options. Dave