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US Air, circa 1991-1994

US Futures Exchange I got an email (junk) about this new exchange that trades spot equivalent currency futures. Says it is better than spot because as they put it: USFE Spot Equivalent Futures (SEFs). SEFs replicate spot foreign exchange markets in a U.S. regulated exchange environment...

Dukas, FCStone, FimatFX (>50k), ADM, CapitalFx Pro, MF Global has lowered their costs to 25K1 IB requires 10k to open an account. MBTrading/EFX can get you started with as little as $400.

BTW, most ECN's won't open an account with you for less than 50K, although that number seems to be giving way of late.

Hotspot is, IMO, probably the best ECN out there right now not just for retail but institution as well. Spreads are pretty tight and there is no problem with the depth of liquidity either. It is used by hedgies and banks alike. In my other posts, I have stated how I use them primarily (along...

RCG is a dealing desk currency shop too. When you have fixed spreads, that's a clear sign of it. On the "institutional" platform, they are padding the spread as well. EUR/USD on most ECN's you will find the spread at 0-1.5 at most during trading hours. The only thing is they are not a bucket...

I use the HK servers to trade currencies during the Asian sessions. I have accounts set up on both servers and just move money from one to the other when I trade. It solved my reset issues on the US servers. Ping time is a little slower, but I've seen worse. If you are active enough, you can go...

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90% of NYBOT trades are being done off floor. It would be stupid to keep the floor open just for a few hundred people can keep their jobs. Trading is a business, it's not a charity.

I'd guess that even tho it is no longer used, they'd ask (nay, demand) 6-7 figures for the software if they wanted to unload it, but odds are they won't. They will keep it inhouse and find a way to use it with the current system, esp if it is as good as you all say it was.

Dow has regained some of its losses and dollar has lost more ground to the Aussie and kiwi since Mitchell started reading his report on CNBC. Oh, wait, wtf does the steroid report have to do with the financial markets??

Having the web address in the title probably can be construed as spam if you think about it. You don't need to actually post the link because here we are, after all, "elite" and that has to count for something.

You Said Erection

Don, to answer your question, in a retail account, you can't be long and short the same stock/same quantity. That's a given. But prop software treats the traders trades differently, as if they were both still open. For simplicity purposes, if they both opened their trades for the same...

There is no added liquidity or funds added to the trading account to cover the 16MM you question. It's all about tricky, real time accounting done by the software that the firm uses.* *again, this is retail accounts used by sub-LLC props. Licensed firms get their leverage thru different...

WDC is Windows Desktop Connection. Yes, you can install TWS on your VPS and log into IB from there. I have found that I tend to have a better connection from my desktop to IB servers if I logon from my VPS. I have to assume that the hosting center where it is located has the pipes to deal...

Can you establish a remote logon to another network/server using Windows Desktop Connection from your work computer? If so, you can set up a desktop at home to be accessed from the outside, log on to that computer and run the software from that computer, no proxy issues. If you can't or don't...

there was also a thread here a while ago discussing this firm but I see that has been deleted as well. (And I was going to chide the guy for not using the search feature)

The above (above) scenario was about props setup using retail trading accounts for their activities. FASB150 Financial Accounting Standards don't apply to these types of firms. Nor does the aggregation of individual's trades. Crossing trades is internal and the software monitors that. The...

Say you have 20 traders each put up 50k deposits (for simplicity sake). That gives you 1MM on deposit, 4MM buying power using intraday margin rules. Now, you give each trader 20:1 leverage on their 50k, that"s 1MM buying power (BP) each. Times 20 traders, isn't that 20MM BP? Well, yes and...