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مهني

1 Markets I: The Ecosystem and Exchange-Traded Marketsالأسواق عبر الإنترنت 2 Markets II: Rates, FX and Creditالأسواق عبر الإنترنت 3 Markets III: Commodities, Energy and Cryptoالأسواق عبر الإنترنت 4 Quantitative Methodsالأساليب عبر الإنترنت 5 Derivatives and Volatilityالمشتقات عبر الإنترنت 6 Rates, Credit, XVA and Riskالفائدة والائتمان والمخاطر عبر الإنترنت 7 Research Craft: Predictors, Backtests, Measurement, Portfoliosالبحث عبر الإنترنت 8 Strategies I: Equities and Futuresالاستراتيجيات عبر الإنترنت 9 Strategies II: Volatility, Relative Value, Macro and the Bank Desksالاستراتيجيات عبر الإنترنت 10 Microstructure and Executionالتنفيذ عبر الإنترنت 11 Market Making and High-Frequency Tradingصناعة السوق عبر الإنترنت 12 Machine Learning for Marketsتعلم الآلة عبر الإنترنت 13 Low-Latency Softwareالتكنولوجيا عبر الإنترنت 14 Networks, Hardware and Trading Infrastructureالتكنولوجيا عبر الإنترنت 15 Research, Data and Risk Platformsالتكنولوجيا عبر الإنترنت 16 The Desk and the Firmالشركة عبر الإنترنت 17 The Industry: Firms, Roles and Careersالمسارات المهنية عبر الإنترنت 18 The Interview Bookالمسارات المهنية عبر الإنترنت
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Quantitative Finance · المسرد

ما معنى Customer priority؟

Definition 24.3 Markets I: The Ecosystem and Exchange-Traded Markets · الفصل 24 — Options Market Structure

Under customer priority resting orders of priority customers (broadly, the public, as opposed to broker-dealers and professional traders) at the best price are filled before any professional interest at that price, whatever their time of arrival. The remainder is allocated among professionals, usually pro rata on size, often after an entitlement for a designated market maker.

An order for 115 lots meets a level of six resting orders, listed in time priority with their sizes: two customers (C), three market makers, one of them designated (DMM), and a firm (F). Customers are filled in full under priority; the entitlement doubles the designated maker’s share at the expense of the other professionals. Data: the chapter’s build.
Figure 24.1. An order for 115 lots meets a level of six resting orders, listed in time priority with their sizes: two customers (C), three market makers, one of them designated (DMM), and a firm (F). Customers are filled in full under priority; the entitlement doubles the designated maker’s share at the expense of the other professionals. Data: the chapter’s build.
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