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To clarify -- I regard everything aside from ARCA Options and Nasdaq Options as legacy. In my opinion, the others' policies (BOX's somewhat excepted) structure execution and pricing to grossly favor MM's over customers and I think are on their way out, long-term, one way or the other...

To the best of my understanding, Nasdaq Options and ARCA Options don't charge any cancel fees AT ALL. So consider routing to them instead. It seems obvious to me that cancel fees are designed to protect the profits of entrenched market makers and/or to make up for antiquated technology at...

I've never heard of a 100-stock limit to an account before -- must be specific to IB (?). I think any of Genesis, Assent, Lime, or Lightspeed probably would satisfy your criteria, provided they give you the type of FIX connection that you need (not all FIX connections are created equal --...

I think you're right -- short ban day was the day that things got really weird. I wonder how long it will be before things will hit "normal" again -- or maybe a "new normal", which I can only guess at. One worst case, in my opinion, would be a severe political backlash against all of "Wall...

Seems likely he (or she?) is trolling. At least I hope so, for his/her's sanity's sake :D

With options, you need to have a very precise boundary by which point you expect your stock to have gone up by a particular price. This seems to be a very difficult trick for most people to pull off with any sort of consistency. I won't say "don't do it" -- in fact, there are some such...

I agree. Although I agree that central clearing of CDS's is a big step in the right direction, why should CME firms (and by extension, the traders who use them) suddenly be on the hook for the toxic garbage of CDS's? Separating the clearing of CDS's is a much better way to go, in my opinion.

I agree with eagle -- there is some truth to the original post, but there are many who are legitimately successful on ET; say, those consistently earning >$100k/yr solely from trading for their efforts (on a post-weighted basis, probably quite a bit higher than 1%). But it's almost certainly...

Thanks, kjsnow25, that is indeed very helpful. I am glad to hear that Lime has gone "pure agency" as this would seem to clear the way for a lot of quant hedge funds/traders to use them without fear of conflict of interest.

But Lime also runs one or more hedge funds for its own benefit through the system, correct? http://dealbook.blogs.nytimes.com/2007/07/18/hedge-fund-leaves-bigger-rivals-in-its-wake/ It seems to me that by kjsnow25's criteria, IB would be "pure agency" as well, PROVIDED one used their DMA...

speculatus, Based on your experience, what vendors would you recommend? FYI, here is an older thread that lists a lot of vendors (but they may not fit all of the OP's criteria): http://www.elitetrader.com/vb/showthread.php?threadid=137396

Is Lime really "pure agency"? I thought they operated one or more high-frequency hedge funds, which to me would disqualify them as such. The only ones I regard as truly agency are Genesis, Newedge, ITG/RedSky, and Neonet (ordered roughly by minimum client AUM). (Maybe Assent, too?)...

It seems that Sterling prevents you from entering entry odd-lot orders for all trading venues, even those that seemingly have no such restrictions whatsoever. I wonder whether they'd be interested in fixing this. Having to trade a minimum of 100 shares of BRK.A could be a headache for some day...

You can trade most stocks/futures with any Penson "introducing broker", I think, although some of their platforms are a little shaky. To the best of my understanding, ITG (especially the former "RedSky"), Newedge (formerly known to many as "Fimat"), Lime Brokerage, and Goldman Sachs let you...

efficientexecutions.com was on these forums advertising rates as low as .001 a couple of weeks ago, although such threads were mysteriously deleted. But the threads are still cached in Google if you're intersted :D I can't vouch for it either way -- in fact, that was the first time I'd ever...

I think that there are two uses to distinguish here: 1. FIX for your own execution management. This is widely offered, although a lot of brokers won't give it to you without paying extra and/or doing a lot of volume. 2. The FAST protocol, "FIX Adapted for Streaming", a standard which...

I agree with most of your proposals -- it would be great if many of these things made it in, notably a BTU-based tax and a consumption tax scheme that's fair to the entire population (I'm sure it's possible). An import credit system (5) would be great, too, although politicians would hate it...

OP only has one post and it's an Excel file? Beware trojans -- maybe scan it first...

Based on the variables you list above, you seem to be calculating the Black-Scholes pricing for an option based on historical volatility. Implied volatility isn't a price (at least in any conventional sense). In case you're interested, the following pages clarify the difference between...

A few days ago, CNN or something other online publication, apparently having gotten there too late for a picture of an actual trader, used a picture of a tired-looking security guard post-close, seeming to imply that the market's decline had somehow exhausted him (yea, right)!