"Box has argued that open outcry trading is better for large transactions and that its new trading floor would encourage better participation in large trades."
Wow, the Toronto Stock Exchange knows better than CBOE.
You know nothing, Jon Snow.
I mean, the CBOE electronically facilitates block trades all the time - their pits, which were functional for decades, became irrelevant to institutional investors and big traders.
You're not going to get the appropriate block trade market makers to sit in a sanitary white room with glass doors and no decent windows staring at each other in a very old building at the end of LaSalle Street in Chicago when they can make exchange markets and dark pool markets to their heart's content sitting in the comfort of their home office.
From my experience, dark pools and discrete OTC/institutional brokers and the RFQ electronic system for block trades will always be superior to "a pit". Pit market makers just look for ways to front run orders unless he has floor broker paper to lean on - which defeats the purpose. Technology has truly made the trading pit irrelevant, and very large block trades absolutely require discretion - hence the popularity among institutions with dark pools.
Wow, the Toronto Stock Exchange knows better than CBOE.
You know nothing, Jon Snow.
I mean, the CBOE electronically facilitates block trades all the time - their pits, which were functional for decades, became irrelevant to institutional investors and big traders.
You're not going to get the appropriate block trade market makers to sit in a sanitary white room with glass doors and no decent windows staring at each other in a very old building at the end of LaSalle Street in Chicago when they can make exchange markets and dark pool markets to their heart's content sitting in the comfort of their home office.
From my experience, dark pools and discrete OTC/institutional brokers and the RFQ electronic system for block trades will always be superior to "a pit". Pit market makers just look for ways to front run orders unless he has floor broker paper to lean on - which defeats the purpose. Technology has truly made the trading pit irrelevant, and very large block trades absolutely require discretion - hence the popularity among institutions with dark pools.
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Poor you. He prob. did that on purpose so other traders won't crowd around him and he can get all the juicy bid/asks all to himself, you never know LOL