CBOE rules and requirements on joining a prop desk and terms

J

JCastellon

I have been reaching out to a few prop desks that require a deposit. they are both registered broker/dealers but i have been getting two different answers from them about CBOE rules and requirements. One desk told me that by law of CBOE you can only take 90% of your profits with $5,000 deposit yet another desk told me that i can take 97% but by CBOE law I have to deposit $7,500 and nothing less.

Is that true? where can i find information about this and other rules/regs?

Thanks
 
Quote from JCastellon:

I have been reaching out to a few prop desks that require a deposit. they are both registered broker/dealers but i have been getting two different answers from them about CBOE rules and requirements. One desk told me that by law of CBOE you can only take 90% of your profits with $5,000 deposit yet another desk told me that i can take 97% but by CBOE law I have to deposit $7,500 and nothing less.

Is that true? where can i find information about this and other rules/regs?

Thanks
More...

I think they are both bsing you.... I'm with a cbsx firm and get 100%... Also I know they take guys with 5k...
 
No they offer Blackwood... My branch has some deal with hold as well so you can prob get whatever software they use. Not sure what they use though. But In that case, I would just go directly with hold...


nkny
 
Quote from JCastellon:

I have been reaching out to a few prop desks that require a deposit. they are both registered broker/dealers but i have been getting two different answers from them about CBOE rules and requirements. One desk told me that by law of CBOE you can only take 90% of your profits with $5,000 deposit yet another desk told me that i can take 97% but by CBOE law I have to deposit $7,500 and nothing less.

Is that true? where can i find information about this and other rules/regs?

Thanks
More...

Each firm is different, as you've already noticed.

You can read the CBOE information and legal circulars here:

https://www.cboe.org/legal/circulars.aspx

Or you can call the main CBSX office and ask for the Regulations Dept.

1-866-458-CBSX
 
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