Capital Available for Traders

mickson · Nov 15, 2012

Quote from Chuck Krug:

Sorry. File is uploaded.
What happens now?

You have a rank and position on the leaderboard.

mickson · Nov 15, 2012

Quote from CT10Gov:

Fair enough... so what do you believe to be your fiduciary duties to traders who give you access to their accounts?

Let's be clear that we are given admin rights not trading rights.

We are governed by the fiduciary duties imposed on a licensed financial services company by the regulator in Australia.

Stok · Nov 15, 2012

So, when I try to look at the performance of some of the guys, it says not authorized.

mickson · Nov 15, 2012

Quote from Stok:

So, when I try to look at the performance of some of the guys, it says not authorized.

In this case the trader in his privacy settings has only allowed certain groups of people to view their account or not allowed anyone to view details.

If you think there is a specific error, please just contact us via info@rapacapintro.com or support@rapacapintro.com

CT10Gov · Nov 15, 2012

Okay.... so two questions come to mind,

(1) what is your relationship with the trader? (for example is a trader your 'customer')? Because fiduciary duty is very much dependent on the type of relationship.

(2) I'm not familiar with the sec reg in Australia - so please excuse if this is a silly question - but what are the licenses you posses in order to operate in Australia?

Quote from mickson:

Let's be clear that we are given admin rights not trading rights.

We are governed by the fiduciary duties imposed on a licensed financial services company by the regulator in Australia.

mickson · Nov 15, 2012

Quote from CT10Gov:

Okay.... so two questions come to mind,

(1) what is your relationship with the trader? (for example is a trader your 'customer')? Because fiduciary duty is very much dependent on the type of relationship.

(2) I'm not familiar with the sec reg in Australia - so please excuse if this is a silly question - but what are the licenses you posses in order to operate in Australia?

I will answer your second question, I will need to research the first one and respond accordingly.

Gleneagle Securities (Aust) Pty Ltd - ABN 58 136 930 526 AFSL 337985 has a full broking, custodian, etc license with ASIC. The regulator in Australia ASIC, is the SEC on steroids. RAPA is currently awaiting its corporate authorised rep no from ASIC as an authorised representative of its responsible entity license.

The trader will enter into a trading agreement with Gleneagle.

CT10Gov · Nov 15, 2012

Really appreciate your response. As I was writing my post to you, I realized that I'm at a complete loss to come up with a word to characterize the relationship between you and the trader. I think it's important for everyone to know what this relationship is.

And a follow up - what's the relationship between RAPA and Gleneagle Securities?

Quote from mickson:

I will answer your second question, I will need to research the first one and respond accordingly.

Gleneagle Securities (Aust) Pty Ltd - ABN 58 136 930 526 AFSL 337985 has a full broking, custodian, etc license with ASIC. The regulator in Australia ASIC, is the SEC on steroids. RAPA is currently awaiting its corporate authorised rep no from ASIC as an authorised representative of its responsible entity license.

The trader will enter into a trading agreement with Gleneagle.

mickson · Nov 15, 2012

Quote from CT10Gov:

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And a follow up - what's the relationship between RAPA and Gleneagle Securities? [/B]

Gleneagle is a large shareholder in RAPA (PTY) LTD ACN 156 366 013

CT10Gov · Nov 15, 2012

Got it - still trying to understand how this all works though - so a trader signs an agreement with one of RAPA's owners.... (1) does the trader have a relationship with RAPA? (2) And what is the nature of the trader's relationship with Gleneagle? A brokerage customer, or something else completely?

Thanks for the quick replies.

Quote from mickson:

Gleneagle is a large shareholder in RAPA (PTY) LTD ACN 156 366 013

mickson · Nov 15, 2012

Quote from CT10Gov:

Got it - still trying to understand how this all works though - so a trader signs an agreement with one of RAPA's owners.... (1) does the trader have a relationship with RAPA? (2) And what is the nature of the trader's relationship with Gleneagle? A brokerage customer, or something else completely?

Thanks for the quick replies.

The trader when entering the mandate to manage funds on behalf of Gleneagle will simulatenously agree to share half their fees earned with RAPA, the trader simply has a mandate to trade a particular managed account.