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Here's a tip : this is not the right place to ask for advice. Why ? I'll let you figure it out :)

I don't know what hits me the hardest, the PNL or the commissions :O

As most of you already know, ECNs will sometimes bonify their rebates and reduce their fees when their client hits a certain volume threshold. Ex: ARCA : Greater than 30 million shares added and greater than 60 million shares total (added, removed, routed) in Tape ABC ... will get you a...

6 years later, and my honest opinion is that OP is still wrong. Every penny counts. Especially at 10M shares a month.

I know exactly what you mean. I got tired of that.

That's a wonderfully elitist statement. No soup for you.

By devastating, I did not mean put me out of business. But 30k less per annum in my pockets isn't going to be unnoticed. No matter what my annual income is.

That is a pretty devastating increase for a small portion of the trading community. Unfortunately, I happen to be in that small portion.

It is taxed exactly the same as a personal business or liberal profession. The revenues are taxed as income, not capital gains. You can deduct expenses from that amount. Getting an INC. is probably a good idea if you don't need all the money that you earn in a given year. That way, you get...

Now are we talking 300k net PNL or 300k payout, which at 40-45% is quite different from 300k PNL.

Exactly. And that makes the structure seem pretty weird to me.

Maybe not anymore.

I trade around 8-10M a month, but I'm wondering about the "gross req" situation, does that mean Net PNL monthly or just "gross profit without ecn's and fees" ?

Is Gross req your minimum monthly profit ? Does that include ECN rebates ?

So GMMI works similarly ?

Here's everything you need to know about Sterling. http://sterlingfinancialsystems.com/support.php The documentation contains just about everything.

Stop limit for sure, trailing not so certain.

No problems and it's been 2 years. Great commish rates. If you want to discuss further or have any questions, you can pm me. Cheers

5$ per 1000 shares ???