Competitive Deal ?

Quote from bruford90125:

Don,

I am not the originator of this post, but I am looking to clear some things up. As for my desire to make money, I have over 6 years of profitable NASDAQ trading experience -- that's not to say that I mind you discouraging others from stealing my edge. I have private messaged you recently about Bright, my point here was to see if there is a general difference between Naz and listed pricing for props.

So my direct question for any prop firm members who may read this would then be:

Does per share pricing (after all ecn fees and SEC fees are added in )differ between Naz and listed trading at prop shops?
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Yes...we prefer the "all inclusive" method, but will do the "liquidity thing" if the trader so desires. We really try to offer the best plan for the trader, based on their trading style.

Please don't get me wrong about the naz trading...as I've said many times before "if you're making good money...I have no problem with what or how you trade"...but if and when you want to expand or modify trading styles, we like to offer help.


All the best, keep on making money....your "naz trading secrets are safe with me"...LOL good luck and stay in touch!!

Don:p
 
Don,

So what then are you rates for Naz traders who do, for example, 1 million shares per month?

Are you implying that my needs might be better served somewhere else if I am planning on trading 95% Nasdaq stocks?
 
Quote from bruford90125:

Don,

So what then are you rates for Naz traders who do, for example, 1 million shares per month?

Are you implying that my needs might be better served somewhere else if I am planning on trading 95% Nasdaq stocks?
More...

Not at all....60 plus ecn's is not that great...75 inclusive is probably better for most traders...

Don
 
This is what I meant by a flat rate for a nasdaq guy:

http://www.rmltrading.com/proprietary/index.html

Not endorsing RML, but it's a good model for someone who does naz and usually adds liquidity. You end up trading for very little in commish. Just depends on your style.

Member firms pay next to nothing for listed trades. It's the ECN's that add up, so if you get that working for you instead of against you and get a good ticket deal and don't scale out or in with small size........lot's of ifs.
 
You will probably see a little better base rate (.001-.002) for NYSE as opposed to Nas. I suspect since props do mostly NYSE they are getting better volume deals for the clearing.

Any generalizations like "NYSE trading is more profitable than NAS" or "all inclusive ECN rates are better then taking the ECN charges" should be dismissed and I'd be suspicious of people saying it for hyping their firms. As anyone worth their salt knows that such statements are absurd and success totally depends on the trader.

Take your current style, figure out how much liq you take vs give and on what ECNs, do the math and compare rates based on that. I don't think I would change a winning style to accomodate a firm's commission structure, however..
 
I see it this way.
-if you are trading Nas and do over 100,000 shares a day u should be paying a per ticket/fee charge, NO MATTER what the size is.
-If your doing less then 100,000 Nas u should be paying a slightly higher ticket/fill price ,NO matter what the size is
-NYSE Non -Billable u should be paying any where from 2.50-3.00 per thousand.
Lastly price means NOTHING if the systen is NOT 99% reliable. It takes years to get a good software execution system able to handle remote users.
If you need more info u can always PM me.
G
 
Quote from trader12345:

I see it this way.
--NYSE Non -Billable u should be paying any where from 2.50-3.00 per thousand.
Lastly price means NOTHING if the systen is NOT 99% reliable. It takes years to get a good software execution system able to handle remote users.
If you need more info u can always PM me.
G
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thats about what it costs the firm, or actually a little less, to clear trades- the reason that they have to pad it and offer traders rates like $5-$6 per 1000 shares is simply for profit motives. its not a bad deal, take very low risk and rake in the money off volume traded through your firm. oh yeah- open orders, trading 100k shares in the first 15 min is where its at, lol.
. but hey, thats business and they put themselves in a position to take advantage and make money and thats the american way.........
 
Quote from bro59:

He said .6 cents/share nitro. Competitive enough but it depends on your style.

I'm really amazed that they offered you 18:1 overnight. Anyone else care to comment on that kind of overnight leverage as it relates to other prop deals out there?
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Ah! I see that, but I must be missing something. Is this .006 cents on _all_shares?

If so, then this is a great deal!!!

nitro
 
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