User:Egg Centric/Local

a local is a trader who trades their own account, either entirely of their own money or on a split with a firm

started out on floor

even during floor there was apt (automated pit trader)

as liffe floor closed a few members went off to found arcades and a few sprang up (e.g. sussex)

strategies

majority, but by no means all, locals are trying to earn the bid-offer spread in some fashion

futures V options

(not generally anything more exotic)

calendars (including flies, boxes, etc)

options locals more likely to be taking a punt on one of the greeks and the mannor in which balance book

trend towards automation

can be done from almost anywhere with internet connection