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Alex, attached is a snapshot of the ISE options trading summary for 10/16.
Do you have any comments about its usefulness for measuring market sentiment
in terms of a P/C ratio?
thanks,
bobr
----- Original Message -----
From: "Jacobson, Alex" <AJacobson@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 17, 2001 12:19 PM
Subject: RE: [RT] Re: SingleStockFutures further delay
> Yes and no. No market has really established themselves as being a
serious
> contender in this product. My view is the reason the industry isn't
rushing
> is the lack of success -- so far -- in the markets where they trade. The
> other issue is can a market really establish good price discovery when the
> primary market is not available.
>
> The current delay relates to have to bear the cost of the price reporting
> systems. A new system has to be built and funded. The way it works is
that
> if one exchange will trade them .. they pay the whole development cost.
> When exchange two comes in it pays exchange 1 back 50% of the cost and so
> on. No exchange has yet raised their hand as exchange one .. ready to
go..
> and fund the project.
>
> They are a money loser for the exchanges that trade them now.
>
> Candidly I think the exchange decision makers have always had a wait and
see
> attitude about them and any delay is "somewhat" welcome. It has nothing
to
> do with any regulatory roadblocks .. the regulation stuff is pretty
much
> done .... it's just time to pull the trigger and write some big checks
...
> which will eventually get written.
>
> -----Original Message-----
> From: rmac@xxxxxxxx [mailto:rmac@xxxxxxxx]
> Sent: Wednesday, October 17, 2001 3:11 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] Re: SingleStockFutures further delay
>
>
> Doesn't that put us further behind Europe. I would think that we
> would be giving up a considable amount of this business to them
> because of the delay?
>
> Ron
>
>
> --- In realtraders@xxxx, "Jacobson, Alex" <AJacobson@xxxx> wrote:
> > SSF's have been put back until at least the end of March 2002. If a
> > securities exchange doesn't start the tech work ASAP ... and none
> have yet
> > raised their hand to start .... they will be put back till probably
> June at
> > the earliest.
> >
> > Alex Jacobson
> > Vice President Business Development
> > I S E
> > 212 897 8125
> > 212 425 4926 (FAX)
> > 877 7209918 (SKYPAGE)
> > ajacobson@xxxx
>
>
>
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