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Lemme disambiguate: you chickens wouldn't take a fraction of a million of a second time in risk to step in unknown territory. You're still in the arms race to the fastest way to the near-present future. Fine. Don't be so surprised when you encounter us on Mars, Pluto and WZX-187!$.

>> I would like to see an open source ASIC/FPGA based feed handlers for the major AMAT/INTC boards. Can do that and will transmit your request to my ASIC friend. In the meantime if you could gimme a bit more info apart from what I already have, in that you don't handle time well? And you'll...

What would you like to get for free? Remember, free only gives you a tiny edge now, just like everyone else. a) An options backtesting system. b) An options market-making system. c) An Alien options market-making system. d: some option I haven't thought about it, including, excluding...

Think of me as an EE who's just figured there's no point of moving on the X-Y axis since all it's already colonized, and thought of Z. OK, Z is still occupied, I know and have seen that before you since I'm currently having a quite good grasp of T. Do you?

We're chronically undercapitalized and overworked, under either capitalist, communist or tsarist (aristocratic) regime. Think of Tetris, Z-80 or The Radio. We invented all those things but our managers, like yours, don't care, know or give a fuck whatsoever. We've got a saying we ask our...

Other facts about me: I'm an EE. Electrical engineer and eastern European. What you need to know about EEs is that they're simultaneously the smartest and stupidest people in the same person. The only guys who outdo us are true Russians. To understand what I'm saying look for "first guys to send...

About me: I'm =~ 40 years old, not a newbie and neither a senior. Senior developer, trader or what else. I laugh in the face of 22 years old "senior developers" and tell them "When I was a boy of 14, my father was so ignorant I could hardly stand to have the old man around. But when I got to be...

Seems like each one of us talks slightly different languages. This may be related to the extreme isolation of the success in this branch. Anything you say out loud can and will be used against you, so those who make it are discreet with regard to how, what and why they do. Which leads to a...

Like JackRab said. Dunno if you use the same jargon but I'm making a distinction between join and attack orders. Say market is now "theoretically" at 100, with best bid at 99 and best ask at 101. Then if I enter a limit buy order at 101, I'm doing an attack. To increase my chances of getting a...

Yup, HF would probably bring better opportunities than my current 200 ms throttling from Interactive Brokers. But I'm reckoning that some market making might also benefit me and it's easier to attempt initially over IB than either HF or exchange-member.

>> JackRab: Unless you've built a model predicting volatility. Well, precisely that :) I understand options as volatility arbitrage. Market buys at 30%, I sell them at 30% but actually buy it at 20%. And conversely, market sells at 20%, I'm buying if I can sell it at 30%.

>> ajacobson: What exchange(s) ? American exchanges for starters, mainly coze I can understand what you're saying and read what you're writing. Asia may be much more profitable but can you read Kanji?

The discussion has deviated so I'm gonna bring it to my original point of interest. To open source or to not open source? a) If I open source there's a very slim chance I might get some help on the non-proprietary part so things would go faster. But my experience matches what one guy once...

>> So you applied to a developer position? Not a trading position? Yes, a development position because I've been doing development most of my employed life (about 15 years) of which about 10 in finance. Started as generic developer with an options market-making desk in Asia then naturally...

>> ajacobson: [...] Optiver’s story [...] Well, I'm in EU and I applied to Optiver Amsterdam a while ago. I think the response I got was ... crickets. Not even an "after careful consideration, we regret to inform you that you have not been selected for interview". And anyways these developer...

Thanks @ajacobson for encouragement. @toonerdy: "Spreads and straddles require the execution of 2 trades to complete the position. The spread priority rule gives priority to 'combination' orders that requires 2 positions to be filled at 1 net debit or credit". I'm not aware of the existence of...

Well, that's one aspect to consider but for now it's not a priority. Another one I have to think about is weather or not it makes sense to open-source such a system. I mean the part which is non-proprietary, a pretty hefty one actually: marketdata, order management system, positions & pnl...

"does the market maker have privileges that mean they get filled and you don't" Well, I'd be the market maker, what privileges? I'd use single limit orders through their API so definitely no privileges here.

Sorry, don't understand the meaning of your question.

In short, the title says what I'm up to. I saw a recent discussion here stating this is a bad idea ("You just can't build a model that works as non-member to compete in equity options." - Robert Morse), but at the same time another member says this might be a great opportunity ("The options...