CTA Startup Costs

Quote from MYDemaray:

I'm going to run equities through my fund too, so I'm going to need layered accounting.
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MYDemaray(or anyone),

What is the advantage of using the CTA as opposed to a HF structure if you plan on trading both instruments?

Regards,
TR
 
Quote from TrueRange:

MYDemaray(or anyone),

What is the advantage of using the CTA as opposed to a HF structure if you plan on trading both instruments?

Regards,
TR
More...

Your structure is effectively dictated to you by the products you trade. If you are trading securities, you will come under state/federal securities regs and need to register accordingly. A HF structure is geared more toward securities while CTA/CPO is more for commodities.
 

Also, for accounting software, TradeDepot is one of the less expensive ways to go, but if you're just doing futures, you can also do it in excel or access....


or access??? Can you explain in details? Thanks.
 

Currently I don't use anything for accounting. I only have one fund at this point and it takes very few positions so it's not too much of a headache.

Once I get my other fund going I am thinking about getting DMAXX for back office and accounting. At least I think it can be used for accounting. I'm not sure, though. I have to explore more options.

If anybody here really loves their back office and accounting software I'd like to hear about it as I am going to need it soon.


What are your reasons to use DMAXX (instead of some other accounting softwares fro CTA/CPO)?

Do you use DMAXX mainly for managed account? Or for CPO?

Thanks.
 
[b[

As far as I know DMAXX is the only application out there specificaly designed for CTAs and CPO.

[/b]

Does any one know that beside DMAXX, what other software packages or web-based service providers support CTA which manages only the managed future accounts?

Thanks for advise.
 
i was a cta and part owner in several cta's

not worth it - imo cause the feds are all up yer arse all the time.

i kid you not they wanted receipts for who purchased the toilet paper in the office cause they were afraid we were doing business with a non member some how. piss on them all i am headed to another country some day where i can at least drive my car without a camera starring at me. mb
 
Quote from spike500:

Tell an existing CTA that you might be interested in investing in their fund. They will give you a disclosure document. Use that one as basis for your own disclosure document. This eliminates a big chunk of the lawyer fees.
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dude this is so not true - you can give the feds the exact same document and they will find something that they dont like. it's always a crap shoot with those people. they will always reject a dd one or two times with a list of several things wrong each time its friggin crazy. why dont they just tell you what they want and be done with it. if i sound like i hate them i do - its the only thing larry williams and i will ever in this life time agree on. mb
 
Quote from MarkBrown:

dude this is so not true - you can give the feds the exact same document and they will find something that they dont like. it's always a crap shoot with those people. they will always reject a dd one or two times with a list of several things wrong each time its friggin crazy. why dont they just tell you what they want and be done with it. if i sound like i hate them i do - its the only thing larry williams and i will ever in this life time agree on. mb
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I never said they would accept the disclosure document, but at least you would have a basis to start with. A lawyer cannot do it better, and perhaps he does the same thing that i did: copying.

I've been a CTA too. I copied the disclosure document from Colorado Commodities and replaced the names and the figures by my personal information.
I got it back with a number of remarks. All the remarks were made on sentences that i copied exactly with ... and ,,,, from Colorado Commodities.
I asked them why they accepted the same text from Colorado Commodities but had remarks on mine.
To make a long story short: as i don't live in the US i gave up my CTA-ship and told them where to stick their questions.

I think they are difficult because they have to organize enough paperwork to keep their job.
 
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