| Topic Name: |
Fixed Income Trading |
| Message Name: |
size players |
| Date Posted: |
03/12/2004 |
| In Reply To: |
I will be working for one of the companies you mentioned.
How do you recommend learning about derivatives? I know embarrasingly little about the topic... and trading in general. But, would you say SIG and Wolverine are "small locals on the floor"? I was under the impression they were both pretty big players.
Lastly, what is a hybrid? And what do you mean by hybrids and citadel making things difficult?
Thank you in advance. |
| Message: |
Wolverine, Susquehanna, Timber Hill, CTC are all pretty size players on the CBOE. Unfortunately, market spreads are tightening and the days of the floor are numbered. When the CBOE loses exclusive rights to the S and P options things wil be getting tighter.
Hybrid is an electronic trading system the CBOE is implementing. Basically, it allows any local to put up any size bid/offer (as opposed to quoting in a pit and having all locals simultaneously rush to make their markets). The trading system is more efficient, which unfortunately for the market makers means spreads get even tighter and the firms make less money.
A lot of this info on HyBrid can be found on the CBOEs website.
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