Simple traders just enforce finite bound on their bid/ask, and set aside to tradebook uncertainty.
The automatic trading algorithm has fair round robin access to the bid/ask before matches are set.
The pit boss has to make the market and everyone measures its distribution of gains and losses.
Bots are prequalified by path tracing and mostly bonded by the pros. The stability cops. Pit boss cannot hog the stack, except by contract. Check with the stability cops.
Trading bot model is the best for pre-analysis, working through paths in pairs or triplets and so on, the bound can generally be found, and its risk distributed. You can disqualify some unknown bots, and making the even money price is a farily easy task, to the accuracy of TU.
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