Recent content by traderCND

And how is that different from all these HFT traders that quote a stock 10,000 times in 1 second without ever making a print?

When Chinese kids do it is called layering and spoofing and is illegal. When Goldman Sachs does it with their super computers it is called HFT and perfectly legal. That is the only difference.

I will definitely call on Monday when I am back in town. You failed to attempt to explain this: "Since we are a member firm of the CME Group, our traders benefit from direct clearing relationships, a cutting edge trading platform, and the capital required to manage a trading account."...

Clearly they are trying to mislead people by claiming they are CME Members. The type of member they are requires nothing more than signing your name and you get a discount on trades. There is no financial reporting or requirements involved. However, on their website they claim: "Since we...

Ummm....I know this thread is 56 pages but I asked at least 3 times for an explanation so I think they had numerous chances to respond. I'll take my chances of looking silly.

I have sent the following email to MarketRegOutreach@cmegroup.com: I would like to make a complaint against Patak Trading Partners. According to CME Rule 106.H. Corporate Membership January 2010, a CME Rule 106.H. Trading Member "May not hold themselves out as members of the Exchange."...

Wrong.... As I posted before, Patak is a CME Rule 106.H. Trading Member. If you don't know what that is it is basically just for better rates. One of the stipulations is: "The firm may not allocate expenses to trades or traders in excess of actual direct and indirect expenses of the...

Just to be clear, do you have "an interest" in both firms or do you have ownership in both firms? Also: 1. Why do you hold yourself out as a CME Member Firm when the rules say you are not allowed to? 2. I assumed that you marked up trades because many people have stated that they can...

You don't know if he is the owner or not. He has specifically said that they are refusing to disclose who the owners of Patak or TopStep are. I assume this is so if you have an issue that might involve any legal action you will not know who to sue. Very clever. Michael, you seem to be...

Why answer the same question over and over again by phone when you can just answer once here: 1. Who owns TopStepTrader? If you will not disclose their names please state why there is such secrecy. 2. Why do you hold yourself out as a CME Member Firm when the rules say you are not...

Also, here is a link to the application to become a CME Rule 106.H. Trading Member Firm: http://www.cmegroup.com/company/membership/files/Rule106HCorporateMembershipApp.pdf Basically you write your name down and agree to certain criteria about how you treat your traders. One of the...

Michael, According to the link you supplied you are a "CME Rule 106.H. Trading Member Firm". According to this link: http://www.cmegroup.com/company/membership/files/Corporate_Membership_benefits_and_requirements.pdf : 1. The sole purpose of this membership is to "allows firms to obtain...

Are you serious?? You ask potential traders to send you money but you won't even say who owns the firm we would be sending it to? There is an element of trust involved in that if we pass the combine we will be given a backed account...but you refuse to say who we should trust. I think...

Michael, 1. Is TopStepTrader a regulated entity? And if so, by whom? 2. Who owns TopStep? 3. Is Patak Trading Partners a regulated entity? And if so by whom? 4. I see on the NFA website that you are "FLOOR BROKER REGISTERED". Do you hold any licenses or passed on proficiency exams...

They make a point to tell you they have "recruits" from the following colleges and are sure to have UofChicago, Harvard, and Wharton as the top 3. I'm sure Harvard grads are pounding the door down to get in. Whatever.... http://www.topsteptrader.com/TsTCampus