Bright Trading

Originally posted by andrasnm
"which makes it the prime candidate when orders start getting internalized (sooner than you may think). "

What do you mean by "internalized"?
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The move is underway for a lot of internalizing (ala Schwab, Super Montage, etc. in the news lately). Firms like GS, and other trading frms will likely follow suit......like Isld now, not able to disseminate quotes on SPYs and QQQs due to ITS rules, etc. A lot going on, some good, some not so good....I'm trying to stay up on it all, but it's pretty tough when dealing with disparate factions like the NASD, AMEX, NYSE, and the ECN's.....

By "internalizing" I mean routing orders within one entity prior to broadcast, which happens now, but to a lesser extent than in the future (IMO).

Don
 
I do not understand why any active trader would want to trade at Bright. And by active, I mean at least 1 million shares per month. I trade about 1.5 million shares per month and with Bright, I would be paying about $4,500 a month more in commissions than I currently am. That's $54,000 a year!!! Not only would I be throwing money down the drain, but I would have to share computer screens (at least the last time I visited a Bright office it was set up that way), and have worse technology and tech support.
 
I guess you didn't look into Bright enough. At that level of volume you'd have your commissions and desk fees rebated. Everyone has it in for Bright. Why?
 
Originally posted by Weasel
I guess you didn't look into Bright enough. At that level of volume you'd have your commissions and desk fees rebated. Everyone has it in for Bright. Why?
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You're wrong, I did look into Bright. I pay half a cent per share. They simple could not compete with that. If you trade decent size and do your homework, there are much better deals out there then Bright Trading.

Please don't ask me where I work because my intent is not to advertise.
 
Originally posted by Weasel
I guess you didn't look into Bright enough. At that level of volume you'd have your commissions and desk fees rebated. Everyone has it in for Bright. Why?
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Not "everybody" just a "vocal minority" here on the board....and I have yet to see any firm come up to the plate with any real numbers, it's usually just "sub-LLC" types trying to lure away traders. We're not the cheapest, and we may not have every tool desired, but we are one of the strongest and most successful, and that may explain part of it.

What's really funny, is that with the "consolidation" going on, some of these same people may end up here by default.

Our top traders may pay only .5 or so, with no tickets and ECN's (with cap rebate maybe less), so I don't think that there are many solid firms that can beat us. Many who try "price wars" end up in financial trouble, and then what good does that do the industry or the traders.

Solid research, open minds, that's all we ever ask.

Don
 
Originally posted by daniel_m


just think of it as two trading firm, A and B. 50% of A's traders survive first year, 40% of B's.
Firm A has a survival rate 10% higher than firm B, yes or no?
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Daniel,

I think that if each of the two firms, A & B, started the year with, say, 100 traders and at the end of the year firm A has 50 left while firm B has 40 left, then firm A is doing 25% better than firm A.

In other words, imo, the 10 percentage points that firm A is ahead, represent 25% of the final count of firm B.

But, aren't we getting a bit off track here? Perhaps we should not belabor this detail too much longer :)
 
as long as these firms are taking in random people off the street, all of them are going to have roughly a 50% failure rate in the first year on average over time. What would be interesting to me is does the survival rate improve or not. If you start with 100, then 50, then 25, that is just random chance, there is no advantage being offered by the firm.

Personally I don't think the firm matters nearly as much as trading style, personality, and capitalization.
 
Please don't ask me where I work because my intent is not to advertise.

If you are happy with your rate what is the point of attacking other companies ? If you want to prove that your firm is better why not to tell what is it ? If you pay 0.5 per share what else can you wish for ? Not to pay commissions at all. I am for it too.
Good luck.
 
I am very happy with my company. I hope Bright comes down with their commission rates... maybe my company will undercut them even further.

I'm not bashing on Bright. If people prefer Bright to other places, I could care less. All I'm saying is that they definitely do not offer the best rates out there.
 
If you have this rate and a good trading and quote systems you are right. I would like to know about this place.
I am happy with my firm but do not mind to get a better deal. Strictly business.
About low rates, just 1 month before Broadway Trading closed I got a very good deal from them but something I did not like and rightly so.
 
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