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Yes, of course. In general, commissions are typically 1/3 of revenues for a clearing broker. But to be fair, they are running a business to make money. When you go to a restaurant if you only order an entree and no drink or dessert, their business will fold. The entree only covers the rent, the...

Yes and no. The ICE has no non-pro market data lower rate. The CME has non-pro and pro but allows for exception to allow more non-pro. As an example, they allow a small business entity to be non-pro. https://www.cmegroup.com/market-data/distributor/files/non-professional-subscribers-faq.pdf...

SLE said it better than I could, as usual. In addition, there is only so much you can learn in books about derivatives. Practical experiance is a better learning tool after you get the basics. 25 years ago, most MM were locals. Around 2003 that started to change with multiple listing and...

If you join the firm, I'd be interested to know what the CTA is, If you do not, I'd like to learn more about you directly. I might be able to find you a backer.

I hate defending IB, so I'll speak in general. All retail and most institutional brokers do not pass through the highest tier of rebates or any PFOF. You can't expect your broker to not mark up anything, offer low rates and still make money.

OI in all the options in a symbol and equity volume are more important. A market maker does not care if he/she is opening or closing. Just value and risk and ability to hedge. They would prefer to hedge with other options so a lot of volume on many strikes is better than one.

In the early days of the internet I used the birthday Feb 29, 1960. That way I only age once every 4 years and no one knew my real one.

I do not use it but I have one of these. https://proton.me

I had to look that one up.

For equity markets, to get the non-pro exemption, you have to be a natural person that is not a registered person with any regulatory agency or managing the funds for others, or using others funds to trade. Every entity or trust is pro-market data. Not my definition. I think the SEC should...

I have not heard of that issue. It is not an issue with us. It might be from an NYSE audit of accounts. I have heard that the NYSE spot checks individual accounts on LinkedIn. If you say you are a professional trader or money manager on LinkedIn, the exchange will charge you higher rates. Has...

If You are getting 10% before their fees with a material amount of AUM vs 10% of their fee?Just read you contract. It does sound fair to me now.

IMO, this is very material because it puts risk in perspective. $500/ES typically targets smaller DT accounts where the owner of the account is less able to handle losses. We offer up to 25% of Span margin for DT and in some cases I think it can be too high when all the leverage is used on one...

IMO, 35% is unreasonable for this set up. If you were the CTA you would likely not get more than 2/20, 1/25 or 0/30. And that would require all the work and expense they incur. I would ask for 15% but not sign any contract that does not allow you to offer the same strategy for outside...

I believe you would take the $134,162.50/$500 or 268X. Keep in mind that the CME requires initial of $6600 which is about 20X or about 5%.

You can try us for brokerage but I can't help with trading advice. To try a demo of Lightspeed Trader- https://www.lightspeed.com/demo-request/

The data is not available from OPRA until the opening.

I would suggest you consider a cash account. A cash account has no PDT rule, you can't short, you get no leverage and you have to wait 2 days for stock trades to settle. Then, if you trade liquid stocks with liquid options, learn to use long options as a stock replacement. Options require less...

For DT, would volatility be a better metric as long as you are only reviewing liquid symbols with a material OI?

Futures are leveraged products and they were short options. The Margin requirement for those positions does not represent the most you can lose, just what the exchange requires. In addition to what the CME requires, INTL FC Stone has additional risk requirements of a shock of +/-10% and a vol...