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I think the main BATS ecn (BATS X, BATX) currently offers the best rebate for adding liquidity... 0.0025 vs. 0.0023 for EDGX or FLOW.

Yeah, you should really get in the habit of constantly checking your open orders and open position windows to double check that everything is going according to plan.

Here are some other possibilities: Interactive Brokers Fidelity Schwab

I think StockVision will work fine with OS X Lion. Great scanner made by a longtime mac user.

I'm pretty sure they decided not to have any market maker exemption.

For those curious, here was the press release last year: http://www.sec.gov/news/press/2010/2010-26.htm

There is an individual stock circuit breaker where if a stock is down 10% since the previous day's close then you can only get short at the ask price or higher for the rest of the day and all of the next day too.

Most experienced traders should be able to pass the exam if they take some time to really focus on studying for it. If anything, they should already know a lot more of the material than the fresh college grads. Keep in mind the test is all multiple choice and lasts just a couple of hours (and...

I think also Fidelity, Schwab, and TradeStation are basically all self-clearing. Hedge funds have additional options for clearing as well: http://www.investmentseek.com/Brokerage/ccf.htm [list is slightly outdated but helpful]

Good idea... Federal Securities Laws & SEC Regulations: http://taft.law.uc.edu/CCL/xyz/sldtoc.html CBOE Rules: http://cchwallstreet.com/CBOEtools/PlatformViewer.asp?SelectedNode=chp_1_1&manual=/CBOE/rules/cboe-rules/ CBSX Rules...

For what it's worth, studying for this test in just 5 weeks with no study materials is still a lot easier and cheaper than studying for a bar exam. I would expect there to be study materials coming out pretty soon assuming someone started working full time on that around June 20th. Until then I...

The challenging thing is mostly just the time it takes to prepare the study materials. There are about 700-800 pages of relevant laws and regulations to outline and study in addition to the trading concepts so it can take a lot of time. It can help if you take a couple of weeks off and do...

Congrats! I'm surprised that Section 3 was so heavily tested when the outline said that 50% of the test would be from Section 4 and just 20% from Section 3. They might have been testing several experimental Section 3 questions though. Also it's probably difficult to place the questions in a...

Options only traders at the relevant prop firms will definitely need to comply. There are actually many options-specific topics that will be tested. Broker-dealer firms are subject to tons of laws and regulations; retail traders are not representatives/associates of broker-dealers (just customers).

Does anyone have anything in writing confirming this? Thanks.

A little bit excessive, but not too uncommon of a move if you look back since 2009.

Volume can sometimes help, but the best way to differentiate in my opinion is if there was a large extremely aggressive seller you observed on the tape.

My guess from the SEC's language back in the fall is that those with the Series 7 would have a decent chance of getting a waiver (probably a good idea to emphasize the aspects of the Series 7 that would appropriately qualify you to do business on the CBOE).

It seems that the CBOE filed the proposed rule change with the SEC on 6/16. Interestingly, the SEC referred to the 6/20 date also as the date when the Series 56 exam "will be available." One test center I called this afternoon though still hadn't even heard of the Series 56 exam. The SEC...

I think so far there is only a basic outline so putting together your own study materials will take some time. If all current traders must pass the Series 56 by August 12th then maybe they won't make it too difficult if everyone has just 6 weeks to study.