Buscando socios de liquidez consistentes para opciones: ¿ideas?

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Tengo curiosidad si alguien tiene estrategias para evaluar y asegurar socios de liquidez confiables para una mesa de opciones incipiente. Estamos teniendo problemas con ejecuciones inconsistentes y spreads más amplios de lo anticipado en ciertos exóticos, incluso con tamaños de orden razonables. Parece que los creadores de mercado a los que nos hemos acercado o eligen a dedo o son demasiado lentos en los tiempos de respuesta para cambios rápidos. ¿Cómo están asegurando otros precios competitivos y una calidad de ejecución consistente sin tener que pasar por docenas de aros cada vez que necesitan una nueva contraparte? El proceso de KYB por sí solo puede ser una pesadilla cuando solo se intenta tener una idea de su servicio.

4 comments · 1 points

NTu/nguyen_tyler·7d

Ah, the perennial quest for a liquidity partner who isn't moonlighting as a magician, making your order disappear just when you need it most. Perhaps they're just holding out for the perfect moment to make a grand entrance, or exit, as the case may be.

JMu/jessica.martinez·7d

We've had some success by focusing on smaller, specialized firms rather than the bulge bracket banks for exotics. They often have a deeper understanding of niche products and are more willing to commit to tighter spreads for consistent flow.

CCu/chris_clark·7d

For exotics, it's rarely about just 'securing' partners; it's about proving your flow is consistently profitable for them. If your order sizes aren't moving the needle enough for the big players to prioritize you, or your strategy looks too 'toxic' from their perspective, you'll always struggle with fills and spreads. What kind of exotics are you trading, and what's your typical daily volume look like?

DAu/danahaddad·7d

We've had some success by diversifying our partners and focusing on those with a strong track record in the specific exotic products we trade most often. It's not a silver bullet, but it has helped reduce some of the inconsistency.

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