Quote from luckyd1976:
Try posting this or PMing this to Don Bright. It would be interesting to hear from him...
In our case, we engage in what is commonly known as the "stock exchange, floor trader" business model. My brother and I enjoyed this for years. We had to buy Exchange memberships, but after doing so, we thought it was pretty cool that we could put up $25K or so and then use a $million or so of, what is now Goldman Sachs money (Spear, Leads, and Kellogg back then)..... to trade with. And...keep all of our profits. All the clearing firm asked is that we run our trades through them...they gave us fair pricing and provided all the services we needed..a "win-win" (hate that term, ut it applies, LOL).
This allowed us to engage in strategies and tactics we could never have done without proper use of capital.
This arrangement fit our entrepreneurial spirit and needs... and worked so well, that in 1992 we started Bright Trading with the same model. Our traders don't need stock exchange seats, of course, and simply get a license and become a member of the family so to speak.
We trade billions of shares each year and get a rebate back from Goldman on the commissions paid. We have around 500 traders, and we provide all the services our traders really need... (at least "most" of the services, LOL).
17 years later, still enjoying it...as are the traders it seems...
PM with any specific questions you may have....
Phoenix guys....Thursday night dinner:
www.stocktrading.com/events2009.html celebrating our new affiliate location...our "Boston guys" opened up in Scottsdale!
All the best,
Don
