Remote Market Making (RMM) licensed or not

Quote from atticus:

All US domestic opex. I am only quoting a few single-names and ETFs and specific positions. Routed via SMART.
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Sounds more like scalping than market making. How many strikes are you send out orders for? What platform are you using?
 
Quote from atticus:

All US domestic opex. I am only quoting a few single-names and ETFs and specific positions. Routed via SMART.
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Youch! i wouldn't want to see your commission bill :)

At least you save of seat fees.
 
One big difference in running an electronic strategy with either a high touch order an automated system , and being a member of the exchange which requires being a broker dealer, is bulk quoting. If I'm running Actant as a member of an exchange, every time markets move, Actant can send out one message and change around 300 quotes. Also, I can make two sided markets. As a non BD, they have a platform called Actant Extreme which can simulate market making. NO BD, NO bulk transfers. Still works well. Options City also has something similar.
 
Quote from 1245:

One big difference in running an electronic strategy with either a high touch order an automated system , and being a member of the exchange which requires being a broker dealer, is bulk quoting. If I'm running Actant as a member of an exchange, every time markets move, Actant can send out one message and change around 300 quotes. Also, I can make two sided markets. As a non BD, they have a platform called Actant Extreme which can simulate market making. NO BD, NO bulk transfers. Still works well. Options City also has something similar.
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I am not quoting "singles" so I don't have an issue with requotes. I got the idea from looking at Actant's product.
 
Quote from atticus:

I am not quoting "singles" so I don't have an issue with requotes. I got the idea from looking at Actant's product.
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I'm sure what you mean by singles? You mean your only trading on the COB?
 
Quote from quatron:

So you quote the wings on COB for a few minutes? Why do you call it market making?
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Assume that I am NBB in one account and NBO in another. And no, I am not quoting wings.
 
Quote from atticus:

lol no, I m not quoting wings, and wtf would you think that?
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You mentioned very low gamma :)

Ok, this is interesting then. How do you hedge you gamma then?
Are you quoting e.g. butterfies and cross the spread to complete the position immediately once filled on any leg?
 
Quote from atticus:

Assume that I am NBB in one account and NBO in another. And no, I am not quoting wings.
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And of course I am not working two accounts.
 
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