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I think it also has to do with clearing firms, software being utilized and the types of adjustments Firms want to make to the trading accounts. I think Penson, regardless of how well capitalized you are would require changes in overall risk to go through them as of right now if you are using any...

I hear you, that's for those capable of being able to get in. Otherwise, its the prop trading dream and those names are the low barrier to entry putting up some cash. You know as well as anyone you can't revolutionize that part of the biz here on et.

Maybe just enough bank for a decent capital contribution

I don't believe its a requirement for a clearing firm to receive third party locates, its in their discretion. Many won't accept delivery from outside sources, locatestock or others.

Madscan also has this capability I believe

QUOTE]Quote from flytiger: Net capital hits. That's what the concern is. The principals say no, it doesn't effect it. No one else believes it. Ok, so even if their net cap does get hit then they get fined by Finra or the SEC and possibly have to raise more money. But where is the risk...

Can someone explain to me what the concern is exactly? Is it the stock price or is it the bond that they wrote down. Aside from what's being said about poor mgmt, which is the same mgmt that has been there for quite some time previous to last week,I see a lot of people talking about things...

How did you know something was fishy? and you think that moving your funds out of a SIPC insured retail account and moving it into a prop account through another firm at Wedbush offers you more protection? Additonally, Wedbush and Penson have pretty much have an equal capital base for the...

I hear from a few prop firms that they raised them very slightly. Not sure of the specifics though. Supposedly Lightspeed was trying to get all prop firms in line regarding pricing.

This is a link to the proposal from the CBOE to the SEC. http://www.sec.gov/rules/sro/cboe/2010/34-62977.pdf

The S7 doesn't seem like the right test for prop traders, its geared towards retail customer related business. That's why the CBOE is coming out with their own test sometime over the next year. The bigger requirement especially if you are contributing any capital should be whether the firm is...

There arent any ecn fees associated with options. There is a maker taker model for some options depending on the underlying and the exchange they are traded on. There is also a pro fee for routing to some of the exchanges regardless of make or take if you are considered a professional trader.

Thanks, do you know if that's for customers or if that's for prop broker dealers as well?

How are CFD's not allowed to be traded in the US?

Is that .0005 or .005?

I'm not sure how Bright does it, but in general the way most firms do it is off of a high watermark so that there is no over charging. If for example you made 10k the first month and 2k was taken out and then lost 10k and the following month made the 10k back, you are still in the same capital...

Just out of curiousity what clearing firms are you referring to that have less capital then you guys, are you saying that you have more capital than Penson?

I dont think that Trillium and Opus take contributions from any of their traders. Chimera isnt really in the same category as the other two but does back some newer traders from what I hear and does take in capital contributions from many of their traders or the groups that run their business...

Madscan has a level 2 scanner that may work for you.

Whatever you want to call these firms, if they give you good service, connectivity to different products and platforms in addition to leverage then its generally better than you would get on your own. If anyone doesnt think thats fair they should open a retail account. Firms do need to make...