Remote Market Making (RMM) licensed or not

A

atticus

I'd like to start a discussion on RMMing. I assume there has to be a handful of RMM guys on ET and I'd like to hear what you're using (Orc, etc.)

I have ramped-up an RMM portfolio in a single account through a work-around and it's fantastic. I am an old-timer (early 40s) but haven't found anything approaching this level since the RAES arb on COMS (pre PALM spinoff).

Any info related to the topic is welcome; strats, asset, IT, etc.
 
I think the two best out there now are Option City and Actant. I used Micro Hedge, and then Edge Specialists. Micro Hedge is probably the least "robust" of the group. I liked Edge Specialists, but if I was starting again I would go with Option City. I know of some people who were using Orc, but as I recall it was quite expensive.

What exchange are you considering remoting to?
 
I know someone that sort-of MMs the SPY and the ES using a laptop and a non-colocated server that costs $100 per month.
 
Quote from FSU:

I think the two best out there now are Option City and Actant. I used Micro Hedge, and then Edge Specialists. Micro Hedge is probably the least "robust" of the group. I liked Edge Specialists, but if I was starting again I would go with Option City. I know of some people who were using Orc, but as I recall it was quite expensive.

What exchange are you considering remoting to?
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I am RMMing on US equity options. I've used MH since they rolled out the Atari handheld. Currently I am rolling my own using IBTWS. Very low/slow gamma and currently no need to colo. I'll post my equity run in late June once I've got a full month behind me.
 
I thought market making was exclusive institutional activity, but this RMMing sounds interesting.., I've always been interested in market making but never quite understood it. If anyone has some resources on how MMs operate that would be fantastic
 
Quote from atticus:

I am RMMing on US equity options. I've used MH since they rolled out the Atari handheld. Currently I am rolling my own using IBTWS. Very low/slow gamma and currently no need to colo. I'll post my equity run in late June once I've got a full month behind me.
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How do you get around the fees for cancels at iB? Or are you getting enough fills that it doesn't matter?
 
What exchanges are you covering? Surely they must have strict specifications on mass quoting requirements - how do you fulfill those obligations through TWS?
 
Quote from Traveler:

How do you get around the fees for cancels at iB? Or are you getting enough fills that it doesn't matter?
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Very high ratio of fills/xcels.
 
Quote from RPEX:

What exchanges are you covering? Surely they must have strict specifications on mass quoting requirements - how do you fulfill those obligations through TWS?
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All US domestic opex. I am only quoting a few single-names and ETFs and specific positions. Routed via SMART.
 
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