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BTw, I don't think the spec will send it to another venue, more like the sumitting broker would cancel the NY order and send it themselves.

Nobody really knows what the role specialists would have under Reg NMS. Even the OMS vendors like REDI and LAVA say that NMS is a moving target as of this time. But basically the days when a spec can lock up a big order and paint the tape like 50b /52a 10 x 500 ......... with 35 being the...

I would probably get flamed big time for this but efforts would probably be better channeled towards other skills besides reading the specialist for when Reg NMS comes into effect in about 4-8 months, the spec "power" to lock a stock and walk it down or up for 1 min for that final cleanup print...

Thanks Heavy, I just got the word from my manager that only NY Dot gets pulled. I wish GB lets you choose whether to pull ny orders. Sometimes, I don't mind getting billed as long as I don't get the "stock ahead"

I know that Graybox pulls NY DOT orders after almost 5 minutes to avoid the specialist charge and resubmits it again. Would anyone here know if Graybox pulls non DOT orders? In other words if I want to be able to add liquidity (and get paid as well) I would have orders out there maybe on...

Hold or even any prop firm for that matter they are there merely to provide the infastructure with which you can make or lose $. Calling them sleaze is probably unfair. Unless of course they hold back your cap, charge you more than you agreed to,etc. I just joined their office in NJ and am...

Am I the only one that can't program without seeing an API sample put out by the broker? IOW, is is a reasonable expectation to start programming an API using the API's object browser alone (f2 help in VB) without the benefit of sample code snippets? Aghhh..so frustrating esp if the support...

Does anyone here know how to get level 1 quotes from Graybox onto Excel? Thanks

I surmise the NY stocks would behave a lot more like Naz stocks since the essence of Reg NMS is that there would be less specialist intervention and more computer driven algorithms which means much less price improvements on "clean up" prints wherein the spec walks a big order down. He can't...

If u are long term bullish, why dont you sell puts serially? THe skew is higher in the puts by at leat 1-3 ticks aver ATM. Kinda like Ansbacher. might get good returns

For what it is worth , unless u are a hedge fund with big $ no one in the tech help will give u support u want. I've used Hold, IB, Assent, SLK API and they ALL leaves a lot to be desired.Just the nature of the beast. Get over it. I know I did. Just keep plugging away and use those error codes.

Out of the 10000 stocks I have yet to witness a stock that went to infinity. Naked calls might be easier to manage than naked puts. There is always better liquidity from the buy writes as the stock is ripping up. Then of course there are the gaps...

I don't know much about liffe but sugar 14 is local sugar which is set in a trading band due to laws. Sugar 11 is World sugar freely traded.

Before analyzing domestic sugar plays, bear in mind that the sugar market in the US is distorted since we can't fully and transparently participate in trading in world sugar (sugar11) due to local sugar lobby. I am not sure of the specifics but back when sugar was at 5 cents, Coke and Hersheys...

Myabe too late for the intemediate trend since sugar went parabolic from 10 to 18 recently. But I agree wth you on long term prospects. However, there are a lot of alternative fuels sources like corn sawgrass,etc .

Most brokers agreements are 1 sided in their favor. If you object to those kind of "Cover our asses" contracts, you probably will never sign on to anything. Credit cards, mortgages, rental agreements, etc.

We are all assuming that this is a typical prop firm i.e. Traders gets Series 7,signs on as a class B with XYZ trading firm who is a member of PCoast or Chicago,NASD who has a clearing relationship with SLK,Pax,etc. What if it is a retail llc with a REG T account in their name and just has the...

I am suprised you still have not received your cash. More suprised that you have not informed the clearing firms mgt. about the difficulty you are experiencing. Tell the guy who is holdiing your money that in this internet age, bad reputation travels fast...really fast. Maybe he will then weigh...

I agree with you wholeheartedly alanm about why anyone might want to trade under those circumstances. Even if there was an edge and "sure" money. It is illegal and regardless who would be at fault years down the line, the money you might make will pale to the money you'd probably shell out in...

Surdo interesting post. I agree partly with what you said about having inventory "somewhre in the firm" but I think it would be at the firm level not the clearing firm level. By this I mean, prop firms might actually hold long stock and permit traders in that firm to use it to short and hit...