Before revision:  We show in the second part that the signal that the market makers use in the general case is a time-changed version of the one that they would use if the final pay-off had a Bernoulli distribution.
After revision:  We show in the second part that the signal of the market makers use in the general case is a time-changed version of the one that they would use if the final pay-off had a Bernoulli distribution.