ETG or Schonfield offers

Originally posted by KRUSTYBUCKS
you said 1.5 or .75 if over 500k sh/mo do you guys have access to bullets - and curious just what kind of buying power does a 1000sh trader , 5000sh trader and a 10,000sh trader have - if you know - thanks - krusty
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there is access to bullets - through susquehanna (sp?). they're pricey (5 cents/share), but go down from there. if you really want the schedule, PM me and i'll get it from somebody.

buying power? honestly, i've never heard of a limit on buying power. it's like credit...build confidence, show you are capable, and there are no problems. but, you said, '10,000ish," i would say it's safe to assume you would need to demonstrate your skills and/or share in the risk to be on that level, and rightfully so. there are plenty of people trading the multi-single-digit-thousand share positions. i will add that buying power is the biggest advantage of a prop firm and i plan on taking full advantage. there is a risk management team, thankfully. if there wasn't, they would've gone bust.
 
I'm interviewing at ETG in the near future, can you tell me a little about the interview process? I read on an earlier thread that there are multiple interviews, is that still the case? Also, is it very difficult to get hired there?
 
i would definitely have a lawyer familiar with the securities indusrty look over the contract..... regardless of which companies you are considering.
 
i mispoke. it's not 1.5, .75 after, it's 1.425 after 500k. that's horrible. i've been asking about this lately since it will now impact me, and this was the answer i got today.
 
Those guys were posting over 4 years ago. Things were different back then.


Quote from niceneasy:

1.5 cents? might as well us td webbroker lol

who would pay this?? plus a 20% split??? wtf?? you guys must be kidding
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Penson Worldwide, Inc. Announces Acquisition of Clearing Business of Schonfeld Securities

Transaction expected to be accretive in 2007

DALLAS--(BUSINESS WIRE)--Nov. 21, 2006--Penson Worldwide, Inc. (NASDAQ: PNSN), a leading provider of execution, clearing, settlement and custody and technology products and services to the securities industry, announced today that it has signed an agreement to acquire the clearing business of privately-held Schonfeld Securities, LLC, a New York-based securities firm, primarily on an earn-out basis. Penson anticipates that the acquired Schonfeld business should be accretive to earnings at approximately fourteen cents per share in 2007 for the nine month period following March 31, 2007, when conversions of Schonfeld accounts are currently anticipated to be complete.
 
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