What do you have to bet? Bankrupt and a 450 FICO isn't super hard-on inducing on my end. So you're not trading a neutral book of $100MM... your flow is $100MM and you're FOK on <$1MM. It's meaningless. On the buy-side you've got risk-limits, which in my line are gamma(or theta) per underlying and global. At Millennium my global limit on theta (easier to asplain) was $350K. Yuri was the risk-manager on the equity vol. He preferred using a dollar-figure/gamma due to GBM. Millennium is a pretty big outfit. I hear they're over $30B now.
I get it; I do. I don't see the logic of you babysitting some order $0.30 below the market and calling that a book when in reality you're sitting on a few hundred grand in book-risk. It's laughable. Pics or it didn't happen. I have my doubts that you have ever traded a day in your life.
I never said im trading a book of 100 million i said i was FLOATING ORDERS WORTH 100 MILLION AND ONLY GOT FILLIED ON 1% read the fucking book dude. Read the headline, dont make an ass of yourself, cause thats what your doing.
So the floating orders are lighter? Less filling? Are they tethered, like with a string so they don't float away? The filled orders sound heavy. I bet you BSDs had a lot of Maalox around!!1
You don't realize it... *I stated* that *I* put two OTC dealers out of biz. Shhh it's a secret that I will only tell everyone who will listen!