anyone here work for Schonfeld

brokerboy · May 28, 2004

i am curious about the deal they offer. 20% gross or 50% net which ever is greater. is that the true deal all schonfeld guys have and does everybody pay same commission there?

TraderRuss · May 28, 2004

I have heard of them, but it is unlikely that everyone has the same deal. All prop firms have varying deals, especially for good traders because they don't want to lose the good ones. If you are successful, you can demand a better deal and the firm will give it to you.

brokerboy · May 28, 2004

i would think that too but i am hearing everybody pays the same. i am not saying its true or not. any schonfeld guys here please feel free to speak. also anything about the firm would be great to know.

javs5150 · May 28, 2004

Schonfeld prop is now called Opus trading. 95% of all the traders have the same deal.

vox_lucidus · May 30, 2004

anyone have anycontact info on opus?
where are they, alli could find was a page on the shonfeld site that said that the page was 'coming soon' and we all know how that works.........

Restricted · May 31, 2004

Everybody has the same deal at Opus/Schonfeld. 20% of gross monthly, 50+% of net at year end (sliding scale based on actual numbers).

Mecro · May 31, 2004

Quote from Restricted:

Everybody has the same deal at Opus/Schonfeld. 20% of gross monthly, 50+% of net at year end (sliding scale based on actual numbers).

Anyone else think that this deal SUCKS?

Someone explain to me why a proftable trader would want to trade for 20% of monthly and 50+% of net at year end when you can get 90%+ of net paid out every 2 weeks at other firms.

brokerboy · May 31, 2004

Quote from Mecro:

Anyone else think that this deal SUCKS?

Someone explain to me why a proftable trader would want to trade for 20% of monthly and 50+% of net at year end when you can get 90%+ of net paid out every 2 weeks at other firms.

i get 100% and was curious still. to trade overnight and position trade you split 50/50 i am hearing.

I Missed Boat · May 31, 2004

Quote from Mecro:

Anyone else think that this deal SUCKS?

Someone explain to me why a proftable trader would want to trade for 20% of monthly and 50+% of net at year end when you can get 90%+ of net paid out every 2 weeks at other firms.

Because Schonfeld deals primarily in position trading. They often give more trading power and allow more in overnights!

Restricted · Jun 1, 2004

Quote from Mecro:

Anyone else think that this deal SUCKS?

Someone explain to me why a proftable trader would want to trade for 20% of monthly and 50+% of net at year end when you can get 90%+ of net paid out every 2 weeks at other firms.

I agree, it's not a good deal if you're profitable. A lot of traders have left there recently for greener pastures.