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I was a floor official on the Amex back before 2009. I was asked to make a ruling based on exchange rules when there were conflicts or complaint. Many of them were from Flex Trades. There is very little price discovery. I would avoid these for a retail trader. Giving up too much to get in and out.

No clue. I have spoken to traders that lost their money and a member of T3 about it. According to T3, they received no capital from WTS, only their traders. What can I tell you. I spent almost a year at a prop firm, I would never do it again. Not for me.

And if his account dropped below zero and had to be liquidated, long dated Flex options would be hard to get value out of.

Ouch!

Email me more information on your requirements and I will respond directly. It would help to know Where you live? Size of the account? PM or Reg-t Do need MD on the API? Per share or per trade comm? Anything else you want me to know? Bob

FSU, as you know, my last firm cleared Apex and they asked us not to do flex. Might have changed. They did not want any illiquid options they could not value realtime.

We do not.

Looking back, I guess he was asking that. Some demo environments are better than others. None will allow you to interact with real order flow while outside real exchanges. It is just not worth the time and effort to do that. Many will just give you executions if you take offers and hit bids. LST...

I would suggest you consider the listed options available and roll when it fits. I would say the biggest advantage of FLEX options is the ability to create a european option or to date an option just before or just after an event. You are not doing either and doing a 1 year option and rolling...

toonerdy, To be clear, he is not using live routing. He is testing our software in a demo environment. When he opens an account, he will have a large choice of routing. https://www.lightspeed.com/pricing/routing-fees/ Bob

As far as I can tell, the CBOE and AMEX have Flex options. On the Amex, there is a minimum. I'll inquire tomorrow to see if we have any platforms that can access these. NYSE ARCA FLEX OPTIONS Flexible Exchange (FLEX) options are customized equity or index contracts that allow investors to...

May I ask for an example of when listed options don't match your needs? I traded FLEX options many years ago. We loved them, as they had wider markets and more edge for the market makers, because there are less player involved.

Is 10 minutes on average acceptable to you? After you do get them on the phone, do they address your issue or have to get back to you? If they have to get back to you, does it take a few hours or days? It is hard to define what the right waiting time is or call back time is. The more annoyed...

Yes, I know.....NOt meant for forward testing, just getting to know the software.

I would say that demo prices are not great. LST demo uses the last sale. Not meant to keep track of P/L on the demo.

Demo's are not going to provide real executions and real prices. It is only meant to test the software.

In the US listed markets, they are separate order books. Very few traders "view" the COB, but they are monitored by automated traders and MM. MM don't make markets in the spreads unless there is order flow there. They are not required to. The CME (Futures) does have a RFQ, request for quote, for...

I did not really follow that response. There are two general ways your spread orders are routed. Direct Market Access (DMA) or some type of "SMART" route. The DMA order goes directly the complex order book (COB) on the exchange you choose. None of those legs also go to any exchange as individual...

There are 5 option exchanges with Complex Order Books. You enter the order as a spread to them. No Legging. AMEX, ARCA, CBOE, ISE and PHIX.

PM at Wedbush is $175,000 to start and must maintain $150,000. API access is available with Lightspeed Trader, Sterling Trader, Silexx OEMS and Realtick. Our two platforms that we own, LST and Sterling, if you enable the API with MD, you will be subject to non-display MD fees. Other APIs will...