Calling all Echo and Bright traders

Don Bright · Apr 16, 2009

Quote from NYC212:

hey don, do you have an office in NYC?

this may be asking to much but it would be nice to see a list of cities that have Bright offices and a list of cities that have Echo offices?

I know some offices are invite only etc but curious what cities have offices.

no trading tomorrow though.

Not really in NYC, we were on 120 Broadway for 10 years, but when GS left the building...so did we. Most of our growth the last few years has been with remote trading...and, since everyone is connected to the "Mother ship" . mentor, manager, team, me, etc. every second of every day...the cyber office situation has made the best of both worlds.

All traders are welcome to start an affiliate location...sort of a "free franchise"....which has really been taken advantage of by some top traders.

That being said.... Boston, Miami, Detroit, Chicago, Austin, Irvine, Arcadia, Las Vegas of course, Langley and Vancouver BC. Phoenix.. and probably a couple I can't think of right now since I'm sitting in a hotel room in Tempe AZ getting ready for a get together, LOL. Most are affiliates, not corporate offices.

All the best,

Don

spreadem · Jul 6, 2009

Don,

Is the pair trading automated at Bright?

Don Bright · Jul 6, 2009

Quote from spreadem:

Don,

Is the pair trading automated at Bright?

We have several "flavors" of pairs trading at work.... from pure manual, gray box to black box. I prefer to see a well designed and monitored "dark gray) box, LOL.

Don

ButterMilk · Jul 6, 2009

Quote from Don Bright:

All traders are welcome to start an affiliate location...sort of a "free franchise"....which has really been taken advantage of by some top traders.

What are the advantages (and responibilities) of being an affilate?

spreadem · Jul 7, 2009

Quote from Don Bright:

All traders are welcome to start an affiliate location...sort of a "free franchise"....which has really been taken advantage of by some top traders.

That being said.... Boston, Miami, Detroit, Chicago, Austin, Irvine, Arcadia, Las Vegas of course, Langley and Vancouver BC. Phoenix.. and probably a couple I can't think of right now since I'm sitting in a hotel room in Tempe AZ getting ready for a get together, LOL. Most are affiliates, not corporate offices.

All the best,

Don

Does Bright Trading advertise, refer clients to, or financially support any of these affiliates?

qwiktrade · Jul 7, 2009

Don,

Is that Langley Virginia?

ButterMilk · Jul 7, 2009

Quote from spreadem:

Does Bright Trading advertise, refer clients to, or financially support any of these affiliates?

I've ask about affiliates and don't seem to be able to get and answer from Bright

Don Bright · Jul 7, 2009

Quote from ButterMilk:

Quote from Don Bright:

All traders are welcome to start an affiliate location...sort of a "free franchise"....which has really been taken advantage of by some top traders.

What are the advantages (and responibilities) of being an affilate?

More...

Very simple, traders can choose to open up a location of their own, bring on traders, mentor them, train them, back if they like.

A way for the more "entrepreneurial" traders to add to their bottom line, help traders, and have a place to congregate and share ideas etc.

Most notable is Vancouver, 2 guys in a garage to one group (CFG) with about 25 traders, and another group of around 90 or so under their wing.

All this only works if it's "win win" for traders and affilateates.

I do my best to support all my affiliates, do workshops etc.

Feel free to PM with any specific questions.

Don

shortie · Apr 16, 2010

Quote from Don Bright:

....

edit: We have the Illegal Short Sale Preventer that can be turned on to prevent all this...but, since we have so many traders who like to trade the opens, they might need to have it shut off. For example...you're long 1000 GE pre market, you want to sell it Long Opening ONly, but you also want to send in 2000 Short Opening Only...the preventers would not allow it....some re-wrote software, some are just really careful with how they place orders.

edit #2, LOL: (I keep reading the above posts, LOL). What tends to happen is that traders will be long, send in an order to sell long, up 20 cents of something, then decide to hit a bid, and not cancel the other order... everyone is a lot more careful these days.

All the best,

Don

i am surprised that both Echo and Bright are more backwards than IB. I don't believe IB charges for "illegal shorts" (somebody plz correct me on that). I assume IB has an algorithm to mark the orders properly automatically.

ScalperJoe · Apr 17, 2010

CBSX vs. FINRA:

Don, perhaps you can clarify some of the inconsistencies I've been reading/hearing regarding CBSX firms vs. FINRA, thanks.

Inconsistency 1: Capital contributions are SIPC insured? Some CBSX firms say "no." FINRA firms such as Bright use SIPC?

Inconsistency 2: CBSX firms require 1-year lock-up on funds, true for FINRA such as Bright? Some say yes, some say no.

Inconsistency 3: LLC's sending K-1's to their traders can only payout 99% max, Bright pays out 100%, yet others say "100% payout is a myth", which is correct?

Inconsistency 4: Even if you're U-4 cleared, and trade with a CBSX, you still need series 7 if you go and trade for Bright (and Echo), yes or no?

These are the current debates among the various posts I've been through, hope you can answer, thanks again...