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Also this is just a personal opinion but if I was starting out right now I would probably be looking at zero money prop futures trading firms. That seems to be where a lot of the big money is right now. The firms are on the rise while stock trading firms are on the decline. On an interesting...

Well now that I understand that you would have to put up risk money at either place you go then why limit yourself to the firms you look at. I am sure there are a lot of firms out in NY that would let you put up 5-10K and train you. The two that come to mind that have been talked about on this...

You should post the name of the firm who told you this so that everyone here could learn who has this "smoking fast" execution platform. Obviously if they are telling you about it they are using it as a form of advertising for new traders so they should not be embarrassed by you helping them...

On worldco I don't know if they would hire at this point. I had friend who were hired there and were there maybe 3 weeks or so and then the axe starting swinging over there. So they have already been canned. As far as Hold Brothers I would not really look outside their main offices such as NJ...

This sounds insane and made up. How do you burn a bridge with a specialist? I have heard the same scenario of having a harder time getting good fills and price improvements from many other traders from many different firms.

I actually saw that in WMT yesterday too. It is good to hear you got the price improvement because that was what was scary. That was a huge move in WMT, but was weird because you got all the prints with the bid/offer not changing then the gap, so it was harder to anticpate that move instead...

What is disappointing about this thread is that it looks like a rule change is coming from the SEC since they are already testing it out, yet no one knows how the hell it will effect traders. The SEC filing did not go into enough detail and explain how orders will be handled. It seems that it...

Did Sungard mention anything about adding access to trading futures, bonds, currency, ect and if so a timeline? There are several traders interested in this that would love to have a truely universal trading office. I also heard that they were going to change the way they did bullets that...

I talk to someone whose dad helps run a specialist firm and they have not made money in 4 months as a firm and the rumor is that several specialist firms will be handing out pink slips in the next few weeks to traders. Kind of scary if they are not making any money.

What have you noticed about the fills? Price improvement or no price improvement? I have seen some wacky gap fills where it is not reflected in the current quote and there is a print of size way outside, then the inside quote is moved and sometimes not moved. However I did not have orders in...

They have been testing it out on some stocks already, but I don't think the actual liquidity quote has been provided, however they seem to be trading as if they are posting one. I think someone else mentioned stocks like MWD, CCU, and MRK, but I am not entirely sure about that.

For those following the subject this was posted by Don Bright from a different thread.

That is what I too was wondering about in regards to the ECNs in the more active stocks. If more volume went to the ECNs right now it would make sense to use them over putting limit orders on the book assuming I am correct about the impact of the new rule changes.

Actually I am kind of confused with how it works right now because I have not seen it in action. From what I get from reading the SEC notes is that what the liquidity quote posts on the bid is the aggregation of all the bids from the highest inside bid down to the liquidity quote. So if 36 500...

Isn't this the topic that someone else started on another thread where they will also be changing how they handle price improvement because of this liquidity quote. I think that was thrown in with this new rule change by the SEC. The thread was something about the death of listed trading. You...

Have all the issues with PD been resolved. I know awhile back several people on here were complaining that they could not log on to their accts, or get ahold of anyone at the firm to find out what was going on. If I remember right it went on for 3 or 4 days that these people were in the dark...

It sounds like the definition of "self-clearing" has taken on a new meaning. With the new definition it could be used in a sentence such as "Worldco is now self-clearing out all their existing traders". PS - don't take the post too seriously I am just having fun.

Are they axing people or are traders deciding to leave because they do now want to put up risk money (which is kind of a bait and switch deal they seem to be pulling on traders there). Probably why most people went there is to trade trade true prop in the first place. The reason why I asked...

What does MAE and MFE mean?

It also looks like they will be using autoquoting which will change the inside quote with new limit orders coming in or being cancelled. I wonder if the NYSE stocks will start to look like the Nasdaq quotes with people flashing and canceling fake size. I guess there will just be more noise to...