IBKR green today
- Thread starter stock777
- Start date
Did they happen to mention what the size of the 2 Hedge Funds that signed up for IB prime?
From what I could gather on their site IB prime is actually offered by every other broker out there and if the "approval" process is anything like their process of setting up an execution only account then nobody is going to waste their time with it.
I worked for a hedge fund and we tried to get an execution agreement in place with our prime broker a little over a year ago and IB made all these absurd demands and we just walked away.
Maybe it's changed, who knows but I still would be interested in hearing what the size of assets are for the new accounts.
It could be 5 million and in that case who cares. It's a retail account.
From what I could gather on their site IB prime is actually offered by every other broker out there and if the "approval" process is anything like their process of setting up an execution only account then nobody is going to waste their time with it.
I worked for a hedge fund and we tried to get an execution agreement in place with our prime broker a little over a year ago and IB made all these absurd demands and we just walked away.
Maybe it's changed, who knows but I still would be interested in hearing what the size of assets are for the new accounts.
It could be 5 million and in that case who cares. It's a retail account.
Quote from rayl:
My favorite stat (though depressing as I clearly drag down the average):
~1000 accounts signed up for portfolio margining, and I think I heard approx 150MM from the CFO but TP backed off and said over 100MM under PM.
THe one bit of Q3 data leaked.... 2 hedge funds signed up for Prime, with a pipeline of 10 so conversions expected. (Well, the 2 signed up may have been Q2 but the pipeline sounded like a leak as TP stopped himself.)
And of course, my favorite comment from TP: he's never been to Vegas... he's a programmer and not a gambler.
No, as that discussion was a slip so he stopped himself. I'd assume that with 8+B in customer equity and a targetted team going after 10 accounts, they'd have to be sizeable. (Well, I'd hope!)
TP also explained why he bought the Altana claim. Not sure I completely buy the explanation but am glad that word got back that he should provide some insight to the street!
As far as taking the loss, there is definately something in it for him, it's certainly wasn't out of kindness.
Their focus needs to be on the institutional business if they want to grow.
Their focus needs to be on the institutional business if they want to grow.
Owning 75% of the company he has a substantial interest in keeping the peace with shareholders. The loss sounds like a well calculated plan by a very intelligent trader that identified the opportunity. Now that he owns the claim (IBKR owner here) I hope the people on the other side get to keep the gains. There is no better lesson than taking a loss. You always remember the losses.
Strong insider-ownership is definitely a plus ( on average) when investing in a company.
Strong insider-ownership is definitely a plus ( on average) when investing in a company.
No, it wasn't directed at you.Quote from Enfinity:
If that was directed towards me, neither my firm nor myself have any affiliation with IB other than owning stock in it as of the close of business today.
I've seen people here praising IB and can't understand why, even if they're "happy with IB."