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The most important item to remember is where profits come from. You are correct, the only real difference between a hedge fund and a true prop firm is that prop firms are not set up to raise AUM and Hedge funds are. They both generate profits for the owners from profits. A JBO Prop firm...

I expect you would benefit from our platforms, rates and customer service. Up to you if you email or call.

The prop firms referred to most on ET, in the US, are based on a joint back office (“JBO”) arrangement with a clearing broker. https://www.finra.org/sites/default/files/NoticeDocument/p004001.pdf Basically, an SEC registered broker dealer with $1mm in net capital, can solicit a type of partner...

This depends on the symbol. I have clients that trade larger lots that that without a problem. SPY, QQQ, AAPL..no problem. When I was a market maker, just our crowd on the AMEX in AAPL was 2000 to 5000 up with 30 traders. Now add 14 other exchanges. When I left in 2010, the QQQ crowd was 20,000...

BTW, our rate for 10,000 option per month or more is $0.35/option and includes the OCC fee of $0.05/option. We can also offer both SMART and DMA for the same cost on most software, not Lightspeed Trader. We can on Sterling, Silexx and Real Tick.

If you have not spoken to another sales person at Lightspeed yet, e-mail me directly. I’ll see what i can do.

We offer a number of platforms. Lightspeed Trader is a minimum of $100 in commissions per month. If you do that, we eat the cost. Other software costs more.

Or, why are some so low? Take a look at the this list of FCMs. You will find that the FCMs with the least net capital offer day traders the lowest margin. They do that to focus on day traders as those that take overnight positions require the FCM to put up 8% of your margin with their own...

Lightspeed Trader does not offer futures. Email me and we can go over what we offer to meet your needs.

Since T-bills trade at a discount to par, the $75,000 in face value T-bills would have less value than $75K, but to keep the math simple, let's say the current value is $75K. (Wedbush keeps T-bills at cost) Then yes, your buying power would be $96,250 in your example. Any margin requirement...

I'm not sure how to answer that. You can't borrow money for futures-in most cases. You can borrow money for equites. I expect this will not be your only criteria. At Wedbush Futures, we offer access to most US listed Futures using SPAN margin in most cases. We can do the same for a IRA if you...

SPAN margin is not margin like equites. You are required to have the entire "good faith deposit" to cover risk on the trade. That value is based on Exchange SPAN margin requirements. Your broker can always require more for risk. Hereis a simple example. Equity account: You buy $100,000 in...

I think I have told this story before, but I was an AMEX wire clerk and then floor broker from 1982 to 1984. We had a wire that said, "Stevie Grunthal". I did not realize that was "THE' Steve Cohen until around 5 years ago. He legged into option reverse/conversions. It was the easy money back...

I find most family offices are risk adverse and avoid certain types of leverage and risky investments. Steve Cohen is not typical of anyone in his risk allocations. He is not looking for 5% to 6% above t-bills after fees. That would not cover his overhead.

I see nothing wrong with this mindset as long as you still make good decisions for the right reasons. When I was a market maker, I had a daily goal. Every morning, I was willing to take a little extra risk to meet that goal before 11am. If I did, I would then take lower risk the rest of the day...

The OCC charges your clearing broker $1.00/per line. https://www.theocc.com/membership/schedule-of-fees/

The industry norm is per strike. At my last firm, we charged what we charge for a stock trade, because we had no process to charge per strike. Your broker can charge what they want as long as they disclose it. https://www.lightspeed.com/pricing/other-fees/ Options Exercise/Assignment Fee...

1 equity option controls 100 shares 1 option on a future controls 1 future. (Each future has a different sizes e,g. ES future is 50/point, CL is 1000/point, GC is $100/point etc.) http://www.cmegroup.com/education.html Bob

https://www.lightspeed.com/trading-education-center/