Competition ahead - Often used in risk arbitrage. Situation whereby another O.T.C. market-maker has transacted with Investment bank at the stated market level (without being faded) before the present bid/offer has been made. For example, if bear steams hits a Investment bank bid and we subsequently go down an eighth, followed by an offering being received by Investment bank at this previously transacted price, Competition was aheadof Investment banks.
Competition ahead : often used in risk arbitrage. situation whereby another o.t.c. market-maker has transacted with investment bank at the stated market level (without being faded) before the present bid/offer has been made. for example, if bear steams hits a investment bank bid and we subsequently go down an eighth, followed by an offering being received by investment bank at this previously transacted price, competition was aheadof investment banks.
Competition ahead