
Nitin Saksena, Head of US Equity Derivative Research, BofA Securities
Alpha Exchange
The Importance of Electronic Trading
In terms of the notional if you look at SPX it's going to be around 475 billion per day where a spy will be about a third as large, 150 billion. With these trades being so near expiration I can imagine that there is a very significant electronic component to this where it may never involve anyone with a voice as part of the processIs that correct? Absolutely one of the many peculiar things about this space one is certainly the fact that it's a very very heavily electronic market which is also according to the trade level data that you can purchase from the exchange which we have done.
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