friend said assent now requiring llc consent form

Quote from 5Pillars:


Desk fees, training fees, and or profit splits seem to be the only way for a Sub-llc to make ANY money off the traders in their office now to cover the costs of that office (and make a profit if any for that location).
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That's what I was thinking. Maybe an excessive bandwidth usage fee for the active traders.

Take the time to figure it out and there are ways for the sub-llc owner to recoup these lost wages w/o the use of a commission override.
 
Quote from cstfx:

That's what I was thinking. Maybe an excessive bandwidth usage fee for the active traders.

Take the time to figure it out and there are ways for the sub-llc owner to recoup these lost wages w/o the use of a commission override.
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I agree - the person or group running a sub-llc SHOULD be able to charge some type of fee for the service/location they provide, without hassles from regulators that miss all the big stuff in the markets and focus on the stupid stuff.
 
Quote from cstfx:

That's what I was thinking. Maybe an excessive bandwidth usage fee for the active traders.

Take the time to figure it out and there are ways for the sub-llc owner to recoup these lost wages w/o the use of a commission override.
More...

Do you guys have any idea how much money a guy makes on over-rides? I'll open the curtain for you, a good manager can pull in 50k to 100k a month in over-rides. You think he can make that much on a bandwith fee? LOL.
 
Quote from Maverick74:

Do you guys have any idea how much money a guy makes on over-rides? I'll open the curtain for you, a good manager can pull in 50k to 100k a month in over-rides. You think he can make that much on a bandwith fee? LOL.
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That seems right - 100k is the area I was thinking for a good office (like a few I have seen).
 
Quote from Maverick74:

Do you guys have any idea how much money a guy makes on over-rides? I'll open the curtain for you, a good manager can pull in 50k to 100k a month in over-rides. You think he can make that much on a bandwith fee? LOL.
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Wow, if you're making that much, you're buying dinner next time ....

Don :p
 
Quote from Maverick74:

Do you guys have any idea how much money a guy makes on over-rides? I'll open the curtain for you, a good manager can pull in 50k to 100k a month in over-rides. You think he can make that much on a bandwith fee? LOL.
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Go ahead, laugh (as opposed to the ubiquitous teenage texting slang - LOL) but watch - you'll start to see these sub-llc owners coming up with creative ways to recoup the overrides.

But that's not the real problem they face - like you said earlier, who's going to put their own money up now to fund this type of operation. I think one of the key things to come out of Tuco was the acceptance of deposits. Look at Tuco's now well-known figures: they had 10MM on deposit to support some 300 traders. Who is going to do that? Other than Don, who here has that?
 
Quote from cstfx:

Take the time to figure it out and there are ways for the sub-llc owner to recoup these lost wages w/o the use of a commission override.
More...

It might just be easier to get everyone regis. and do it legit???Then trying to play all of these games.
 
Quote from vjr:

It might just be easier to get everyone regis. and do it legit???Then trying to play all of these games.
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Yes, for most traders, but not every one CAN get registered.
 
a question for maverick-under this new scenario,if a trader takes all the exams he needs ,how is leverage treated going forward at an Assent for example -will it be 2-1 and 4-1 pattern day trade OR will the 20 and 30:1 be allowed

thanks
 
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