Search results

I know that probably none of you are attorneys, however, I thought that perhaps someone may know of the answer. If you are a class B member of a firm (LLC), are you accepting any liability? Let's say, one of the firm's investors decides to sue the firm, can that investor or the firm...

Thanks 2rosy. Although they certainly move at a brisk pace. They are not maintaining a consistent tight spread. I go back to CL as an example. Even when it moves fast, the spread doesn't widen very much.

If one were to measure the Bid/Ask changes (not quote updates, but an actual shift in price of the Bid/Ask to the next level (either up or down)) per minute on stocks/futures/whatever. What would have the highest number? I would like to exclude anything that doesn't consistently maintain a...

Hi Robert. Well, I am getting more than the other Member. Our Membership Interests are weighted 80% for me, 20% for him. However, I am not getting an extra allocation beyond that - like a performance or management fee.

Okay. So, I just checked with California's website. Since we (1) the place of business is not in California and (2) during the preceding 12-month period has had fewer than six clients who are residents of this state. We do not have to be registered in California as a RIA. However, now...

This is where I'm confused. If we are trading futures only (which we are), we may not fall under the federal SEC (and therefore require an investment adv license), can we fall under the state's Securities act? Although it sounds like anything that has to do with Futures does not fall under a...

Dave, You are right. Unfortunately. I have talked with an attorney about this and he told me that I do need to be registered as an IA in my State. This did not seem correct given what I've read about both the federal and state rules, so it prompted me to come here. Maybe this guy is right...

Myself and a colleague have formed an LLC. We both have put in money to trade futures. I will be doing the trading and he will be running the business (accounting, book keeping, taxes, etc). We are not taking money from anyone else. Do I or does the LLC need to be registered as an...

I will. Thanks for all your help.

I guess my concern in all of this is was... If you place the initial bracket. A long @ $4 and the sell @ $6. That $6 sell may be marked as a short sell since you don't have a position. However, if it hits $4 first, and then hits $6, you are selling your position not going short. I...

Thanks you two for chiming in. One last question. Is this the same case in futures trading? Obviously the software could make it or break it. However, I just want to make sure I'm not breaking any sort of exchange rules. Rosy2. I do not use IB. But thank you for the offer...

I was wondering if this is possible or if it was against exchange rules. Or possibly it depends on who you trade through. Let's assume the current stock price is $5. You want to place a Buy-Limit at $4 and a Sell Short-Limit at $6. Are the following scenarios possible? A) If the...

if you haven't read the book Dark Pools. You should. Quite a significant part of the book is about the building of Island. The story is simply amazing.

That is a good question. If a trader is not licensed, would only the firm get hammered? Or would the trader get punished as well?

I plan on getting the 56 or 7 eventually. Although I have no idea which one at this point. Naturally I want to get the one that would work in more firms. You are right, this firm may be bending things a bit. However, I really think it is because they want me in there without causing me...

EvOTrader, Thank you for the response. Do you know what would happen in this scenario? There is a broker/dealer that would like me to trade their money (I am not putting up a risk deposit). Initially, they asked me whether I had any licensing (i.e. a series 7). I do not. So, they...

I have a few questions if anyone has the time to help me out. 1) If I understand things correctly, if I trade with a US based prop firm that is a broker/dealer, I am required to get a Series 56. Is this correct? 2) If I trade with a US firm that is NOT a broker/dealer, what sort of...