Remote Market Making (RMM) licensed or not

Quote from quatron:

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?
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No, that wouldn't be tenable. I'd have to do SPYs at a penny cross and lock in loss to comms. Honestly, I am not willing to divulge what I'm doing so this thread wasn't the brightest idea.

I'll be back after JunEx or EOM and produce my IB run to report performance.
 
Quote from atticus:

No, that wouldn't be tenable. I'd have to do SPYs at a penny cross and lock in loss to comms. Honestly, I am not willing to divulge what I'm doing so this thread wasn't the brightest idea.

I'll be back after JunEx or EOM and produce my IB run to report performance.
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this is like going to a titty bar and finding out the girls are wearing pasties, such a tease!:p
 
Is this still working?

I notice that the ISE has made some changes to COB quoting in the last few months.

Consolidated COB order book is still pretty thin, especially in less popular names. So there is plenty of room for a boatload of DIY RMM'ers.

I can see why it recalls RAES banditry and requires low, flat gamma -- if you check out the COB fee schedules, you see that if you lose your Priority Customer (i.e. retail) status, you get hit with major surcharges. So you're effectively capped at the non-pro limit of ~8000 orders per month, not much for market making. So the edge might be only available to retail.

BTW, 1245, that is Actant "ExStream" not "Extreme." Your and Bob Morse's (Victor Securities) misspelling threw me into a fruitless Google search when this thread was first active. I just figured it out a few days ago when I saw the correct name in an Actant press release for HitLift.
 
Quote from Emilio_Lizardo:


BTW, 1245, that is Actant "ExStream" not "Extreme." Your and Bob Morse's (Victor Securities) misspelling threw me into a fruitless Google search when this thread was first active. I just figured it out a few days ago when I saw the correct name in an Actant press release for HitLift. [/B]
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You are correct. Sorry about that. You are also correct about the number of orders a customer may enter be before he must claim pro-customer status. It come to 390 orders per day, on average over a quarter. That's about one order per minute.

1245
 
you should check to see how many customers are actually auto quoting with one of the firms you are talking about (oc) there are other systems available that allow you to psuedo market make.
 
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