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  1. Robert Morse

    How to Reach $10MM - $100MM Hedge Funds

    They can't be reached through forums and message boards. You will have to contact them directly with a presentation with a bio to try and get an interview. The best way to get that interview is to network with other traders and managers of those funds by attending the events they go to. sle...
  2. Robert Morse

    Has anyone gotten a better Interactive Brokers margin for shorting?

    They can't offer more leverage than allowed by FINRA, only less. To do better you need to qualify for a Portfolio Margin account. That maxes out for equities at 15%.
  3. Robert Morse

    Should I join this prop firm or keep trading for myself?

    My only other advice is to look past the "deal." Are these really people you want to do business with?
  4. Robert Morse

    What works for you?

    I had to look that one up.
  5. Robert Morse

    Should I join this prop firm or keep trading for myself?

    I would not join the prop firm, but we do not know which prop firm you are talking about, the size of the allocation you will get, and where that can lead.
  6. Robert Morse

    Has anyone managed to negotiate lower fees with IB?

    I have no idea, but co-location is not a strategy, it is necessity for low latency. Low latency is very expensive from hosting fees to non-display fees. The AUM has to be material and the edge has to require this, It is not uncommon for this to get >$15K to $20K/month if you need NYSE Data all in.
  7. Robert Morse

    Has anyone managed to negotiate lower fees with IB?

    Yes. 25 years. I was willing to pay for services that made me money.
  8. Robert Morse

    Has anyone managed to negotiate lower fees with IB?

    Prime brokerage is based on "need", not cost. You need a service your Prime does not offer.
  9. Robert Morse

    Has anyone managed to negotiate lower fees with IB?

    Depends on the Broker. I believe the regulatory requirement is $500,000 but we require $1mm+. We also treat Prime accounts as only Reg-T as we can't track trading in realtime. No PM on DVP and CMTA trading. When we execute and don't Prime, that requirement would be based on the clearing firm...
  10. Robert Morse

    Has anyone managed to negotiate lower fees with IB?

    The "Prime" business exists from the institutional demand for services from other broker, but the desire to keep your assets in one place. Lightspeed and Lime have a number of customers that prefer us for execution but need to custody at another broker. They might have $500mm at ABN AMRO and...
  11. Robert Morse

    Commission for split order

    Sorry, I got two responses so I confirmed with the developer. Any change to the order would create a new ticket and a second charge.
  12. Robert Morse

    Commission for split order

    Yes, just the limit-not other paratermeters. Amended below.
  13. Robert Morse

    Banking - looking for help - much appreciated

    We can't do foreign master/subs so I can't help.
  14. Robert Morse

    Advice on creating simultaneous gain and loss

    Cash settled indexes only. e.g. SPX yes, SPY no.
  15. Robert Morse

    Banking - looking for help - much appreciated

    Where are you located?
  16. Robert Morse

    Advice on creating simultaneous gain and loss

    What would you do a Jan 2020 box spread in? It can't be a 1256 contract as they are MTM. I did tax roll all the time in my earlier days for clients when I was on the AMEX.
  17. Robert Morse

    Advice on creating simultaneous gain and loss

    I can't give trading advice, but I can speak in general terms. You can look for an index to short to "reduce" individual stock risk, but over the next year, the cost of that hedge might exceed the difference in tax rates or might not offset individual stock risk. If you short a cash settled...
  18. Robert Morse

    Pairs Trading in Practice

    The reason why I ask relates to non-display fees. We offer APIs on Lightspeed Trader, Sterling Trader Pro, Realtick and CBOE Silexx. Lightspeed Trader and Sterling Trader Pro are owned by Sterling Trader Tech (STT) and have been audited by the NYSE and SIP feeds and are required to report all...
  19. Robert Morse

    Pairs Trading in Practice

    Does your system require market data from the API or can you consume it from another source?
  20. Robert Morse

    Pairs Trading in Practice

    What software or API do you use to enter/exit your pairs? It is done as a pair or 2 orders manually?
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