Pattern Day Trade Rules

[def]

Originally posted by nusrat

MikeB,
Another interpretation of IB-Def's post just occurred to me -- namely that, first thing Monday, IB is going to jump right on pressuring regulators to force O-X to apply PDT rules to options.

Well, if it happens, we'll know the source -- another example of "IB's leadership in promoting competitiveness and the best interests of traders".

1. Nusrat, assuming the rules have changed, your constant blabbering and probable e-mails to the regulators would alert the NASD. Just to make things clear. For me, first thing Monday, I'll be busy making markets and trading the Australian, Japanese and HK markets. (Of which we (timber hill) are by far the number 1 market maker in terms of volume and number of trades - see more on leadership and best interest of traders below.) I've been around elite trader for over 3 years. I believe I've earned a reputation of being fair. Nice try at questioning my integrity.

2. Leadership: Which firm leads the way in offering professional commissions to retail traders - regardless of account size? Which firm has written comment letters to the regulators against PDT rules, against prohibitive rules set by the option exchanges in favor of market makers. Which firm is one of the founders of BOX? The list goes on. If you took the amount of time to read the comment letters on IB's web site and the rest of the site that you've put into writing repetitive posts, you may learn a thing or two about a broker that has made a difference, and does it by leading the market.

3. IB is for active and knowledgeable traders, broker dealers and institutions. If you need hand holding we are very up front saying we are not the broker for you. Thus if you're not happy, please close your account and go elsewhere.

 

[mdmbud]

the nice thing about SSF is the Gov. has yet to place many of these regulations on them, so they are going to be a short-term fix to a lot of this!

 

[JohnH]

The NASD really don't have any authority over options and even if they claim they do they didn't get SEC approval for this rule change. Nothing about options was in the PDT rules for stocks that went into effect last year. If they want this new rule if would have to go through a comment period, etc. which it obviously didn't. My suggestion is to write to the NASD at pubcom@nasd.com and tell them what you think!