Here's what I'm looking for:

Q

quannabe

A CBOE firm with a farm team for profit/split or $mgmt hedge side with a strong balance sheet and compliance record. If I'm going to generate 6 figures in 2014, I may need to plunk down up to as much as $50k. I say CBOE firm cuz I'm not taking the 7 again. It doesn't have to be CBOE, any SRO who accepts 56 will work.

The farm team aspect would be good in the event I want to grow to 7 figures quicker than solo. Something like the old Generic model which had both an ARCADE side and Prop side of the business.

Looking for any names I may have overlooked.....Thanks!
 
You gotta find somewhere local with someone willing to take you under their wing. CBOE firms are regulated up the wazoo, so the general rule of thumb is the bigger and longer they've been around, the better. Just remember, any funds you deposit with a CBOE firm is gonna be locked up for 1 year (you'll be able to withdrawal any account balance above your total deposits.
 
Quote from quannabe:

A CBOE firm with a farm team for profit/split or $mgmt hedge side with a strong balance sheet and compliance record. If I'm going to generate 6 figures in 2014, I may need to plunk down up to as much as $50k. I say CBOE firm cuz I'm not taking the 7 again. It doesn't have to be CBOE, any SRO who accepts 56 will work.

The farm team aspect would be good in the event I want to grow to 7 figures quicker than solo. Something like the old Generic model which had both an ARCADE side and Prop side of the business.

Looking for any names I may have overlooked.....Thanks!
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Not that many prop firms around anymore, Bright Trading and Quad Capital looks to be the best of the bunch.
 
Quote from dealmaker:

Not that many prop firms around anymore, Bright Trading and Quad Capital looks to be the best of the bunch.
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Bright could be a good fit if I could sit for the 56. I didn't think that license would work for their SRO. Guess, I'll have to call Don.
 
Quote from EvOTraderV2:

the 56 is only for CBOE firms. I don't think Don can register you for that.
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That's what I thought. Will there ever be a day when the stock and options exchanges simply agree that 1 license applies to all prop trading. Aren't we passed the days of "selling muni's with 6 pts of commission", REALLY; I mean since when have municpal bond sinking funds applied to prop trading, ever? It's b.s. like this which gives the regulators such a bad rap.

God forbid the SEC or FINRA scrap regulation which has been inapplicable for decades.
 
Quote from quannabe:

That's what I thought. Will there ever be a day when the stock and options exchanges simply agree that 1 license applies to all prop trading. Aren't we passed the days of "selling muni's with 6 pts of commission", REALLY; I mean since when have municpal bond sinking funds applied to prop trading, ever? It's b.s. like this which gives the regulators such a bad rap.

God forbid the SEC or FINRA scrap regulation which has been inapplicable for decades.
More...

No. because licensing is a business and the more licenses and more complex it is, the more regulators can earn and the more fines they can hang out. Regulatory corporations like FINRA are for-profit businesses just like you are 8-)
 
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