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Yes, it can change at any time, but our clients at Penson receive the TIMS calculation for the haircut calculations. For SPX, the portfolio is "shocked" down 8% and up 6%.

Sorry Mav, you can't trade futures in a customer portfolio margin account. Futures have to be traded in a segregated futures account. It's a requirement by the CFTC and the futures exchanges. If you trade both, and your prime broker give you correct document to sign, they can seamlessly move...

All securities accounts (Equity/Option etc.) have SIPC. All futures accounts or any accounts that are not "securities" accounts are not covered. So, if you keep cash in your IB futures account, without knowing it, that cash is NOT covered by SIPC. Even though many IB customers don't know they...

http://www.finra.org/Industry/Regulation/Guidance/p038849 Middle of the page under "Eligible / Non-Eligible Products"

I could be wrong, but I believe the Series 63 Exam, like all the others requires a sponsor. I think the firm you work for has to create your U4, then check the box for your exam, then your in the system. Even if you could study and take it early, these exams are not hard for students that are...

As a New Yorker I say, Ouch! Bob

I'm a very conservative person. I believe before anyone invests in the stock market outside their IRA/401K, they should have 6 months to 1 year of what I call F**K you money. If your job makes you unhappy or you get cut, you need cash available to get you over the hump. After that, you're...

Again, I don't like the JBO model either. No one is made to join. I've asked this question before on ET threads. colin76, let's say the JBO was your firm. Your friends and family money, let's call it $5MM (Yes I know most have less, many have more.) Your overhead, your compliance, your risk. You...

A prop firm is an entity that trades it's own money. If the traders are employees or limited or general partners is not important to the term prop firm. Most prop firms are broker dealers. A retail account is any account in an individual's name, not an entity.

Nice, sounds illegal. Must be hard to roll. Sounds like a college movie.

But how do I make the the perfect brisket? Happy Holidays. Bob

Do you have any idea on how to solve this catch? ---- Not really. Your trading options with wide spreads and no market maker will narrow the spread unless he has to. Again, the mid point means nothing to a market maker that has his own values...

In the case you described, most likely the mid point was way below the market makers values. MM run scripts to stay competitive in the market, but not show their best bid/offer. Because you as customer, goes in front of them, if they see value, they will go ahead of you. Yes, MM prefer spreads...

You have a better chance of executing an order at the mid point with a single order. With a single order, everyone can see it. Your order is protected by best execution rules, so no trade throughs. In the COB, very few firms and traders can see the order, few platforms display it. The individual...

I don't understand what you mean by single order. The choice is complex order or enter two single orders to leg a spread. What are you asking?

That sounds like what I recommended. Never do a trade to open past what your will to trade at, but start a one price then slowly move to you limit.

If you use single orders, you can get legged on one side. Stick with spread orders unless your comfortable legging into spreads. You'll never know where the other side is willing to play unless you enter an order out there. You have to decide what your price is and wait for it.

Orders entered into the Complex Order Book (COB), are sent to one exchange and keep there for execution. They are NOT sent to the individual legs for execution. You need a customer or market maker to execute the other side of the spread, to get an execution, in the COB. Many of the big...

-------------- Interesting that Non Broker Dealer accounts are called Retail here. So a $200MM hedge fund would be called "Retail" because their not a BD. Customer accounts have some advantages. They are segregated customer accounts protected by SIPC, no lock up period, 100% your account. So...