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MS wrote:
> Brent,
>
> You happen to be right ! I clerked for a market maker in the OEX pit,
> and I was privy to the conversations he would have with the traders for
> the brokerages around him. He was given info as to orders that were in
> their decks. Most of the trades the market maker did was with the
> brokerage traders near him. There was one time when a trade occurred
> after the close, inwhich a trade was made between my local and this one
> brokerage trader. My guy benefited by $9K.
>
> mark,
I am a former CBOE market maker. The behavior you described is unethical
and I a faiirly sure it is also against exchange rules. Perhaps we could get a
ruling from the good Dr. OEX on this point? I am sure that trading after the
close, i.e. private trading outside normal exchange hours is against exchange
rules. I am sorry that your employer proved to be such a poor example of how
business should be conducted on the CBOE floor.
Ethically,
Norman
>
>
> BrentinUtahsDixie wrote:
> >
> > Not having any actual experience in the pits; I think that there is some
> > evidence that the traders there DO have access to information on where stops
> > are. Here is some reasons why.
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