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At 09:18 PM 5/7/98 -0500, THE DOCTOR wrote:
>Cancel and replace in the OEX can now be done electronically via the e book
>assuming your brokerage house used the e book in the first place. C/R
orders are
>not a big deal with an electronic book......with a physical book the are
absolutely
>a challenge.
>
>I have one additional question. I understand how a broker could miss a
fill in the
>OEX, but a broker could never miss a scalp. Brokers can't scalp on the CBOE.
>Agency trades only.
>
>A.J. Carisse wrote:
>
>> Mark&TC wrote:
>>
>> > Peter,
>> >
>> > I clerked for a market maker in the OEX pit. I watched the floor brokers,
>> > and the fact is that every time they get a new order they have to rifle
>> > through their deck which takes time and their attention, and maybe a
>> > possible missed execution of a order...or a missed scalp on a
>> > trade...that's the real issue...so my rebuttal stands.
>>
>> This is scary stuff - even the NYSE has SuperDOT - goes to show you how bad
>> this 19th century process can get. Shuffling through papars - good
Lord! I'll
>> never complain again about the few seconds it takes me to replace orders.
>>
>> A.J.
>
>
>
>
Anyone who whines about the "manula" work of handling a c/r is worth dropping.
petena9090@xxxxxxxxxxxxxx
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