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Genesis Q&A
- Thread starter Serge Pustelnik
- Start date
Quote from Serge Pustelnik:
Our software supports both Direct+ and SuperDot and there is no extra fees for that.
Our retail clients call call our trading desk to place an order: broker assisted orders are $20.00 .
Confirmations & statements: Electronic daily + monthly statements are free of charge
Mailing: $2.00 per mailing
Thanks
I assume this is only for OPENING positions. If I need to close a position and for some reason (technical) I have no access to your software, I should be able to close a position without extra charges.
I have some other Q as well, I will contact you in the near future to see if we can work things out.
Quote from Serge Pustelnik:
If you execute your orders with it (not just for data) it is free.
Just to clarify :
from your website : Platinum Software Fee $ 250.00 per month (Waived, when opening an account with Genesis.)
datafees also apply. ($42,- for all exchanges/ futs)
Can you please explain ?
Is the prop arm of your business also registered with NASD?
If so do your traders need the Series 7 and 55 to trade.
Thank you.
If so do your traders need the Series 7 and 55 to trade.
Thank you.
Serge Pustelnik
Genesis Securities
To answer the questions:
The software is free when an account is opened with Genesis. The $250.00 is only applied to:
1) Traders who use the software for analysis and not executing any orders through Genesis
2) Retail customers who have a very small monthly trading volume.
Data fees:
The exchanges, such as NYSE, AMEX, NASDAQ, etc. charge for each user to get their quotes. Those charges are separate from the software. You can subscribe to as many or as little as you choose. If you only trade the Qs, for example, you will need not subscribe to NYSE or NASDAQ.
We are registered with the NASD, pcx and SIPC.
Our prop traders need s7 and s55 to trade the prop account. Traders may also opt to trade through a retail LLC as well.
The software is free when an account is opened with Genesis. The $250.00 is only applied to:
1) Traders who use the software for analysis and not executing any orders through Genesis
2) Retail customers who have a very small monthly trading volume.
Data fees:
The exchanges, such as NYSE, AMEX, NASDAQ, etc. charge for each user to get their quotes. Those charges are separate from the software. You can subscribe to as many or as little as you choose. If you only trade the Qs, for example, you will need not subscribe to NYSE or NASDAQ.
We are registered with the NASD, pcx and SIPC.
Our prop traders need s7 and s55 to trade the prop account. Traders may also opt to trade through a retail LLC as well.
Quote from Serge Pustelnik:
The software is free when an account is opened with Genesis. The $250.00 is only applied to:
2) Retail customers who have a very small monthly trading volume.
Hello,
Can you be more specific? What is the minimum monthly volume required to get the software free? 10 000,..., 50 000 shares per month?
Regards,
Olivier
Serge,Quote from Serge Pustelnik:
The software is free when an account is opened with Genesis. The $250.00 is only applied to:
2) Retail customers who have a very small monthly trading volume.
You should change the wording on your website that says the $250/month Software Fee would be waived when opening an account with Genesis ( http://www.gndt.com/comm_fees.aspx ) to including that there is also a minimum trading volume requirement in order to qualify for free software.
Otherwise it is misleading to the public consumers. Your website leads them to think the software is free just for opening a retail account.