Quote-Driven vs Order-Driven Markets
Quote-driven vs order-driven markets, defined plainly, plus the hybrid reality of US equity trading and what depth each structure actually shows you.
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What Is Gamma Exposure (GEX)? Dealer Hedging
Gamma exposure, or GEX, estimates the hedging dealers do as prices move. See the calculation, the assumptions it rests on, and why free GEX numbers differ.