Bright trading new commission model

[C Robinson]

Quote from rtharp:




..............The volume of the San Diego Assent office is now larger than the entire volume of a few of the prop firms that advertise on this message board..............

i'm sorry but my curiousity has gotten the best of me...i'll bite. what type of monthly volume are we talking about??? that is a very bold statement....are we talking a few hundred million share's a month? fwiw, i am not trying to be antagonistic, just very curious.


Don,

i apologize for taking this thread off topic but i am guessing you would be curious about the answer to my question also.

 

[Hitnruntrader]

Its awesome to see some of your traders getting the .0025 Don. Even if everyone cannot get them its better than none. I will call you within the next few weeks and hopefully we can talk about that rate and maybe i will leave the firm i am with and climb aboard.

 

[rttrader]

RE> As for posting on this board. I've been on this board for awhile. I remember when there were 50 or so regulars who would share ideas and help others. All I see now is bashing and complaining. It's a much different board than when I had originally joined it. I don't see lots of value coming from this message board lately so I do not see lots of reasons to hang around much.


RTharpe,

inandlong and I were <just> on the phone last week talking about where you went. I remember when I first found ET and your right it "was" a much different board. I'm just glad I had some time to glean some great information from gentlemen like you and P2 and a few others....good to see you posting again...and "whatever' you decide to do...I hope you'll be successful...it has been a rough last year but is getting better every day.

rttrader -

 

[GHansen]

Quote from marc lehman:

I got a call from a guy at Bright Miami Bch that said that they were charging .0025(2 1/2 tenths) for NYSE stocks. Let the competiton begin fellas. I can't wait to see all the other firms jumping into the mix . Looks like Fanco and the Bright boys are going to just try to capitalize on volume to make up for the margins. If Mr. snake oil himself would have focused on retail business he would have never had this problem. But instead he will ruin the prop business model!!!

Rumor has it that they lost 4 guys from Miami Bch and have closed down Boca.

Can you elaborate Donny B.(when your sober enough)?
Can you also talk about why people lose their series 7 affiliation because you don't register them with the NASD?

Oh yeah , free drinks with the .0025 rate.

Marc Lehman


.

Miami is at 1/2 cent according to a person I know that trades from that office.

In response to competition, Bright has been closing offices (or considering closing offices) and cutting their rates quite a bit. Their main problem though, like 9 out of 10 firms in the industry, is antiquaited technology and minimal strategy support. (sorry, opening only orders and pairs trading have been played out Don)

There are very few shops that add value anymore beyond low rates. The best (by far) for technology and support are Assent, Emperian Global Markets, and Schonfeld.

 

[marc lehman]

Don,

I hearby shut my mouth. I think you're trying to come clean but your answer's are sub par.

I still think your answer re: Series 7 license is a bad one. Why would any trader want to come trade for BT and risk having their license expire when they leave you? That means that they have to retake the Series 7 when they leave you!

I don't know Generic's model but I do know that Assent and a couple others give a .0035 and .004 deal to NYSE trader's. Your trader's nationwide at Bt should be treated fairly with the same kind of deal you offered the Miami guys.

So glad your trying to come clean living in the city of evil. Now you know I don't smoke crack!!

Have a great day! Glad I was able to help my fellow trader's.

Marc Lehman

 

[Pumpanddump]

These threads are becoming worthless, all we are ending up with is a bunch of sour traders who are not making money in this market.

It's so funny to see how people react when the market is bad.

When the market is good, you never see stuff like this.

You people should be ahamed of yourself for bashing Don Bright, he is a decent guy.

 

[YYNOTT]

Marc, I have met the Brights and they are very nice people. They run a good show. You seem to have anxiety over Don being sober or something.

I have watched Bob Bright trade in front of me and he kicks ass. 10000 lots for fun....Nice Scalping.

I dont know who you are or what your beef is with the Brights but they are good people and good traders. They have a business and make a lot of money. So they appear to be doing something right?

Trading isnt for everyone. It's starting to sound like I am in highschool in here.

Let's practice some professionalism in this forum.

You know Marc everyone hates whiners.

Anthony[CHICAGO]. 312.371.2902

 

[tdoc]

Quote from rtharp:



just for clarification for others.

on the Series 7 license. If it is not kept active with the NASD it expires.

But with a lot of prop firms the exchange the prop firm belongs to holds it.

If somebody wanted to join a NASD firm later on. They will have to deal with the NASD. It can be a pain but it depends on the situation. Usually just a letter from the exchange saying they were holding the license will suffice to having it reactivated.



For me personally having my license held at the Pacific Stock Exchange when I was at another firm. The NASD required that I pass the Series 55 (which is required anyhow for NASD prop firms) before they would reactive my 7. It changes though case by case on what they would require you to do.

On commissions I don't know what is going on with Bright, but would imagine Don would be aware of their commission structure.

Boca may have closed who knows but it is still listed on the website.

On guys leaving, well that happens all the time in the industry.

Robert

Robert,

Good to see you posting again! OVERtheLINE was a bit premature on your demise from the trading biz. I appreciate your unbiased comments and look forward to numerous posts from you again in the future. Glad to see Don B. posting on this thread as well. Both of you do a great job of helping other traders and ignoring a lot of the bashing. Keep it up!


tdoc

 

[box]

Robert
Wish you the best of luck.
alan
EchoTrade

 

[Nordic]

Quote from rtharp:









I'm not about to start trading actively in the summer months. I'd also like to see how the office performs if we hit a new low. For now I'm just having fun enjoying life, and swing trading.

Come back dude!

It's not like last July, ( that was heaven) but profits can be made. Miss your posts too.