E Trade Pro

Quote from ratboy88:

a little different: pax bought echo....merrill bought pax...merrill owns echo.. GS owns SLK but Bright only clears thru SLK....therefore Bright is still very independent.
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ok, you are right.
but, is Merrill Pro an official name that the firm is called by? Signs in offices, webpage, etc? I have a hard time believing that Merrill would allow it..
 
no i don't believe mer is in the business. i think its echo who was owned by pax who mer bought right. as for etrade having a strong retail i don't know about that. out of the 45 or so guys affilated with the etrade office i was out of he told me last week iw as the only retail guy. truth is after bring int hs game along time and reading these boards for a year or so i think 90% or more traders are funded or trade prop
 
A regular trader can not get on to the ML prop desk- that is a job with a salary and million dollar bonuses. Echo is not owned by ML, the PAX-ML deal has not been consummated yet, and PAX does not guarantee Echo. There are firms that clear ML, use ML systems, space and resources.
 
Quote from Cre8UrF8:

Maybe E*Trade Financial Corp. wants that large amount of money in that account that prop traders trade from to use towards aquiring another firm ie. Schwab or Ameritrade?
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One thing about ET is that intermingled with the pikers, posers and frauds are a few for-real guys making prophetic calls here and there. Its just a matter of figuring out who. :D

Nice one.

Scott
 
It was a great envirnment to trade in while it lasted. I will miss it Almost everyone has cleared out today.
 
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