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  1. Robert Morse

    Brokers with Direct Market Access?

    BTW, Some transparency is provided with a brokers 606 report. From Generative AI, " The U.S. Securities and Exchange Commission (SEC) Rule 606 requires broker-dealers to make quarterly reports publicly available. These reports include information about how they route customer orders in equity...
  2. Robert Morse

    Brokers with Direct Market Access?

    Yasurfer- Wow, there is a lot here. Since you are not "in the business'", there is no reason why you need to know these details in advance, but there are a number of misunderstandings here. You are mixing up Clearing and Custody with Execution choices. Your Clearing Broker, often the same as...
  3. Robert Morse

    Two Questions

    #1. You would be long stock. #2. In your example, both options are ITM and both would be exercised into offsetting stock positions. If your short were ITM but the Long were OTM, and you did not have enough cash for the stock, your broker would likely not allow you to exercise those calls and you...
  4. Robert Morse

    Freedom from platform fees- Summer Promotion

    We always have promotions, but this one is very popular. You need to apply before July 4th. We will not be offering this one after unless management extends it.
  5. Robert Morse

    Prop firms obligated to join FINRA

    All Broker Dealers are required to register with the SEC and then a self-regulatory organization (SRO). I was an AMEX member that did their own regulation until the contracted with FINRA to do it. I think they might have reverted back to their own regulation a few years ago, because they were...
  6. Robert Morse

    Prop firms obligated to join FINRA

    (If I read this right) This post only relates to SEC broker Dealers that were member exchanges but regulated by exchanges not FINRA. This does not refer to Prop firms that are not Broker Dealers.
  7. Robert Morse

    Is anyone using Lightspeed?

    It is a legacy relationship only for accents that want to use Livevol X. By some time next year were we hope to upgrade Livevol X, it is an older software, and move customer to Wedbush Securities where we have more control over risk, service and pricing.
  8. Robert Morse

    Backtesting Option Strategies on Futures

    CQG Integrated Client has back testing. https://www.cqg.com/products/cqg-integrated-client
  9. Robert Morse

    closing order imbalances

    We provide the data, profiting from any data is your job.
  10. Robert Morse

    closing order imbalances

    Here is an example after hours of what I see now. You can see TPH MM window with the imbalance of 627 to buy and the same information on the top line.
  11. Robert Morse

    closing order imbalances

    No it is not. We have a window with all the imbalances and it can be displayed by symbol in the top part of the Level 2 window.
  12. Robert Morse

    closing order imbalances

    We show them on Lightspeed Trader.
  13. Robert Morse

    Is anyone using Lightspeed?

    Ask me any questions I can publicly answer here or email/call me directly for any detailed questions not for public display.
  14. Robert Morse

    Is anyone using Lightspeed?

    Hi Jamalx. As far as I know Ninja is a future platform and Futures broker. We are Introducing Brokers to Wedbush Securities and provide a variety of solutions for small and medium-sized Hedge Funds, Trading Groups and Active Traders. Our main focus are securities accounts, but we also offer...
  15. Robert Morse

    Make sense of this market?

    Except I'm not a typical broker's rep as I was an independent Option MM first for 25 years so I have the perspective from both sides and I never make comments I do not feel strongly about to just promote business at Lightspeed. I'm also here to help and educate where I can.
  16. Robert Morse

    Make sense of this market?

    I put a 92% chance your 92% statistic is made up.
  17. Robert Morse

    Make sense of this market?

    This is not new. I have been in this industry since 1981 and it has always been "erratic and random and unpredictable". It is easy to blame Algos, but all Algos do is execute orders over a short period of time that took a little more time before. You need to adapt and find your edge and not look...
  18. Robert Morse

    portfolio margin for day traders

    Our concentration risk limits apply the same for any margin account. But with us, that is risk not margin. Our risk team would ask you to reduce or add funds. There are situations where with PM overnight position have a higher requirement than Reg-T as we add 20% to the OCC for accounts under...
  19. Robert Morse

    portfolio margin for day traders

    This is going to differ from broker to broker, as no one uses straight OCC TIMS margin for naked options for their house requirement. And, options do not provide leverage per se. The OCC requirement for a naked SPX options is the loss down from a 8% move or the loss up from a 6% move when you...
  20. Robert Morse

    trade station shares locate?

    Try a demo of Lightspeed Trader- For stocks that require a locate, we get inventory from our Clearing Broker plus 2 premium locate sources on the locate tool on Lightspeed Trader. https://lightspeed.com/demo-request/lightspeed-trader
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