Former CBOE heavyweight Lee Tenzer has passed.

A number of his former clerks have become huge success stories. Great guy!

 

Sorry to hear that. He achieved great success and obviously passed on his knowledge. How old was he?

 

"[...] His trading style was to be neutral and take the other side of the customer orders, which he did profitably. He exited the trading business in 2002 as electronic trading negatively impacted the trading floor. [...]"



Hmm... did he really take the other side of the customer trades, or did he maybe just frontrun and sold it to his customer with a little profit share?

S.a. https://www.marketswiki.com/wiki/Lee_Tenzer

 

79

 

LETCO built a lot of fortunes. Fascist Trumper, however.

 

Retail orders is what all pros are aiming at.
And that's why PFOF is so valuable.

 

was letco that good? I know they were big at a time with large spreads

 

Outstanding - made because they were the DPM in TMX. Sold to TD at the end.