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    Non-SuperMontage Participants

    if your broker does not have a direct link to the ecn u want to trade against, i presume u can still preference the order with selectnet from your L2 screen. i believe the new preference rules do not apply to ecn's. of course u can only remove liquidity from those books, not add liquidity...
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    Supermontage!!!!

    I am confused as to how the Price/Size priority designation works for Supermontage. The three priority designations are: 1) Price/Time (the default) 2) Price/Time with Fee Consideration 3) Price/Size From what I can tell, if participants designate their orders as having Price/Size...
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    Bullets & Conversions

    No argument there. For independent traders using a retail broker, you have got real slippage and commission problems to be sure. Some of the registered pro's I know (trading for a firm) tell me that day bullets are very common hedges they can request within the firm and have delivered to...
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    Bullets & Conversions

    Bullets or "day bullets" are used to create short market positions with no uptick. They are constructed by long stock and long puts, deep enough in the money to approach a delta of -100 per option. Note that calls to my knowledge are not usually sold -- I dont know where or why you guys...
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