Quote from bone:
I will put aside for the moment any possible conflict between the subscription fee and the CME electronic member firm requirement that no employee funds be at risk.
It seems to me that the requirement for traders to be flat before the market close combined with taking a $2.50 per round turn haircut is going to make this a very difficult proposition unless the trader is going to sit with a position for a very long time. It is also going to make the traditional and proven big prop firm earners like spread trading and inter / intra-market arbitrage and automated day trading strategies ineffective.
I think another consideration that must be disclosed are the restrictions and limitations in the employment contract. Are there restrictions specified by Patak on the employee who chooses to seek other employment at a competing firm or within the industry ? In the interest of disclosure, Patak should also post their employment contract on the website. Is the trader considered an employee of Patak and paid on a W-2 ? If the trader is paid on a K-2 or 1099, how does that make Patak compliant with the CME member firm requirments ?
My point is that there are some really important and relevant issues that are not addressed in the website, at least that I am aware of after a brief glance.
