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No, the level 2 is the depth of the overall book, so you can see everyones bids and offers. For example, when you are getting market data, the arca book will give you all the arca quotes and nasdaq total view will give you all the INET or NSDQ quotes (depending on the software) but with the...

I do hear that if the clearing firm is a software provider as well and you are trading your own money via a retail account, like Assent for example. But you may have to get your own software deal on top of the clearing deal and that can cost money as well. Win it all....what clearing firm...

Why would you recommend not trading at a firm thats not self clearing? Many firms arent self clearing these days, even Schonfeld isnt self clearing any longer. The other criteria about not trading at a sub llc and cutting out the middle man is good advice, but self clearing shouldnt...

NYSE Open Book is the specialists book on the floor of the NYSE, or the depth of the orders that are being sent to the floor. So you can see the overall price levels in the stock on the floor. It used to be more important before the market became more electronic, when specialists had more...

Well I guess if nothing else, you can write a book on your experiences trying to get other peoples trading experiences.

Look through these threads and you'll find places that are charging less. People talk about their deals all the time, do a little research you'll see others quoting their deals and get an idea. You can do better than .006 per share if you are trading your own capital. If you are fully...

Just curious, who are you talking about at 417 5th? Isnt Trillium on that floor?

Thats a good question, Im not sure if any of them are investment advisor reps or not.

I think that T3 Live is a registered investment advisor with the sec.

I got a buddy who started with them a little bit ago, I think they have Lightspeed and Sterling. He says deal was pretty good and they were good guys, not sure of the specifics though.

fwiw As mentioned before in this thread, a lot of it has to do with taxes. If you trade at a prop firm and become a class b member then you are not really an employee but a limited partner of the firm. In this case you receive a K-1 from the firm and are not subject to self employment...

Just had to mention that.. I don't think that Citadel and Jane Street-T3 are really comparable to one another.

fwiw, You still have to pay income tax, I think what was meant was paying not self employment tax which is somewhere in the neighborhood of 15% or so up to the first 100k and another couple of % afterwards on top of income tax. Though I think that if you get a K-1 you are exempt from...

I don't actually think that they take any risk capital in. I think that traders that trade for T3 are on the firms dime and are hired by the firm. I know some people that work there and while they definitely pay higher and give up a bigger split than other people in the biz, the ones that...

Is that a typo or is the com really .0002 ($20 per 100k shares)?

Assent is an LLC, hence the name Assent, LLC They are also a broker dealer. It seems the non-licensed sub llc's at Assent are slowly being dismantled. If you are interviewing or looking to trade at Assent and they require you to be licensed you are going to be fine. They have multiple branch...

The prop shop model is very difficult to trust when you are a new trader. You need to have a solid place to work, with traders that can trully help you become profitable. As people mentioned in this post, where the firm makes money when you make money. But for a trader that has capital and...

For 0 risk capital deposit and flexibility on drawdowns I think a percentage of profits is only fair, obviously a greater percentage if you arent on the hook for loses. But for relatively unlimited BP and the ability not to stress shitty periods in the market at least 10-15% profit...