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Brokers get told how many assignments they need to make and then they hand them out randomly to their customers. My impression was that the number of exercises
by SamReidHughes 3y ago
Brokers get told how many assignments they need to make and then they hand them out randomly to their customers. My impression was that the number of exercises gets added up by the OCC and there is no chain of permutations recorded tying an individual exercise to an assignment from one broker's customers to another.
My belief here is based solely on having read some documents about the assignment process and having seen no reference to such record-keeping.
- HWR_14 3y agoAh, I didn't realize the OCC commingled everyone's orders like that. Somehow I thought they were acting as an insurer on a bunch of 1 on 1 transactions. But I'll admit my understanding is probably incorrect in light of your specific knowledge.
- SamReidHughes 3y agoI want to reiterate, I don't have specific knowledge, I am a retail end-user drawing conclusions from reading things like these assignment process documents: https://www.theocc.com/getmedia/0cdda3c2-ab81-450f-b8b8-7ce84d88fce7/standard-assignment-procedures.pdf https://www.theocc.com/getmedia/0cdda3c2-ab81-450f-b8b8-7ce8... https://gdcdyn.interactivebrokers.com/Universal/servlet/Registration_v2.formSampleView?formdb=3354 https://gdcdyn.interactivebrokers.com/Universal/servlet/Regi...