Misc. Fees at Prop firms?

Originally posted by Avalanche


No kidding. What could possibly be more important than having the best equipment.
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a strategy that works, the risk controls for when it doesn't, and the emotional discipline to hold it all together...
 
This really sounds like a great business. Start a brokerage firm. Then charge your customers $400/month plus commissions! Incredible. When will one of these companies go public ?
 
1) Redi + is garbage.
2) satellite feeds are disgustingly slow (slow is bad).
3) Seat and desk fees are extinct at almost all firms.
4) Getting rebates for adding liquidity is GOOD not bad.(duh)
 
Originally posted by VOLUME
1) Redi + is garbage.
2) satellite feeds are disgustingly slow (slow is bad).
3) Seat and desk fees are extinct at almost all firms.
4) Getting rebates for adding liquidity is GOOD not bad.(duh)
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1. According to who? A very few, with some sort of agenda (my Ford is better than your Chevy, I mean, really, come on.). Kind of a silly statement don't you think? I've challenged before, anyone who thinks they can outrade our guys on any machine, bring it on!
2. We have T-1 and T-3 in most offices....so what is your point...??
3. Most firms are extinct, we are still growing...and those that are "penny wise" and "pound foolish" don't make very good traders anyway.
4. I agree with number 4. And when it makes sense to burden our traders with ECN fees, to receive the rebates we probably will. We are always looking for ways for our traders to make more money.

You can argue the Redi thing to death, but come on, get over it...all the systems work fine.

I know it's slow today, but do we really need to bicker? It's a nice Summer day, and the market's moving enough to make some good money...

:-)

Don
 
I'm not "bickering", I was just stating my opinion on some previous remarks by you and some other members.

My real reason for posting was to discuss this remark you made....
"Don't be swayed by "bells and whistles" some "brand new" firms may have expensive new equipment (paid for by other peoples money), whereas the firms who have been in business a long time, have stable, quality equipment that is being updated when necessary."-DB
Expensive new equipment is good for the traders. Upgrading to newer, faster, better equipment is the reason why half the companies we trade have "Research and Development divisions." It's just a fact that in the technology world newer usually is better.
Don't take every opinion that differs from yours as a personal attack.
 
Originally posted by VOLUME
I'm not "bickering", I was just stating my opinion on some previous remarks by you and some other members.

My real reason for posting was to discuss this remark you made....
"Don't be swayed by "bells and whistles" some "brand new" firms may have expensive new equipment (paid for by other peoples money), whereas the firms who have been in business a long time, have stable, quality equipment that is being updated when necessary."-DB
Expensive new equipment is good for the traders. Upgrading to newer, faster, better equipment is the reason why half the companies we trade have "Research and Development divisions." It's just a fact that in the technology world newer usually is better.
Don't take every opinion that differs from yours as a personal attack.
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Hey, you can't blame me for getting a bit paranoid around here...:-)

Speed is important...to a point. Most people don't realize that all orders are "funneled down" to about 1200-2400 baud on the NYSE anyway. We upgrade computers quite often, and we have SLK and GS to support the infrastructure, and to act as "research and development" for us. We suggest things, they develop them....it really works quite well. We have a number of "goodies" that others don't have...

anyway, sorry if I seemed to over-react (slow day here as well)...

Don
 
Originally posted by m22au
Do traders at pro firms pay "professional" exchange fees?

If so, is this in addition to the stated desk charge?
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No, all fees are included in fee schedule..

Don
 
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