What does 'locals' mean? Thx
janez 发表于 2010-7-6 09:54
per LZ, (3) Who is a local?
A local is a market maker in the S&P pit who provides liquidity and market making services. They either take the other side of institutional positions or flip the positions by on-selling the positions via E-mini contracts. Locals trade on their own accounts and typically goes home flat for the day (as in they only day trade and usually do not take overnight positions). The locals are very experienced and are very resilient. They can sniff out blood (both bull and bears) better than most traders and makes a living being the counter-party to institutions.