Scorpion, you can go to the CBOE's website and get a list of all the member firms and start calling them. We are members of the CBOE as is Cassandra, very similiar to ours. The information is out there. No one is hiding it. I just don't have it at my fingertips at the moment.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
PDT Rule & Prop Firms
- Thread starter tito
- Start date
Scorpion, you can go to the CBOE's website and get a list of all the member firms and start calling them. We are members of the CBOE as is Cassandra, very similiar to ours. The information is out there. No one is hiding it. I just don't have it at my fingertips at the moment.
Quote from ratboy88:
and fyi ladies... no one needed the 7 to trade pre 99. just a little tidbit that seems to be neglected. 7 has almost zero to do with trading. but it sure is a nice revenue source and way to control people.
Once again you are missing the point. The series 7 has nothing to do with the SEC, it has to do with the exchanges. The exchanges are like a private club. If they want you to dress up like a drag queen and call them daddy to be a member, then that is what you do. It's like joining a private country club. You have to adhere to membership rules. Has nothing to do with the SEC. The anti-SEC rant is growing old.
Quote from Maverick74:
Once again you are missing the point. The series 7 has nothing to do with the SEC, it has to do with the exchanges. The exchanges are like a private club. If they want you to dress up like a drag queen and call them daddy to be a member, then that is what you do. It's like joining a private country club. You have to adhere to membership rules. Has nothing to do with the SEC. The anti-SEC rant is growing old.
Now you are missing the point. It keeps the SEC happy. By having a 7 reduces the liablility of these exchanges and BD's.
Quote from Maverick74:
Once again you are missing the point. The series 7 has nothing to do with the SEC, it has to do with the exchanges. The exchanges are like a private club. If they want you to dress up like a drag queen and call them daddy to be a member, then that is what you do. It's like joining a private country club. You have to adhere to membership rules. Has nothing to do with the SEC. The anti-SEC rant is growing old.
someone has to enforce the illegal rules. joe public should be able to buy and sell through a broker. it is the broker's responsibility to keep things clean... thus the broker can be the member. this is fairly new... didn't need the 7 to trade pre 99. who changed the law?
why are they using sect 15 to enforce this rule.. it doesn't fit.
and stop playing kiss-ass.. we all know you aren't going to speak out against the SEC or exchanges. you have a vested interest.
Quote from Maverick74:
That is not true. Has nothing to do with liability.
Sure it is, call the ANY securities attorney and speak to them. If you are running an LLC without being registered and I have deposit with you. I lose make 1k on one trade and lose 1k with another, by law and per the SEC, the trader is entitled to both the gains and losses. Not having a 7, one can play the dumb card and say I didn't UNDERSTAND the risk involved.
The 7 once again proves you have an idea of risk involved. Call up the NYSE and ask, that is one of the biggest reasons. You need a number? I can have you speak to someone.
i am talking about what is required now at the cboe. right now its registering & u4 basically. everything is subject to change, why worry about what may happen considering we are talking about the cboe exchange. traders are looking for another option then having to get licensed. registering is a simplier process period. everything is status quo with some props, some firms may make some changes to protect themselves just in case to avoid any problems. in being pro-active. its all specualtion of what may happen with rules that have been in place for years. business will continue as usual with minor changes for the most part.. too much money involved.
Quote from ratboy88:
someone has to enforce the illegal rules. joe public should be able to buy and sell through a broker. it is the broker's responsibility to keep things clean... thus the broker can be the member. this is fairly new... didn't need the 7 to trade pre 99. who changed the law?
why are they using sect 15 to enforce this rule.. it doesn't fit.
and stop playing kiss-ass.. we all know you aren't going to speak out against the SEC or exchanges. you have a vested interest.
Exchanges are SRO's......SELF REGULATING ORGANIZATIONS.
Quote from nyxtrader:
Sure it is, call the ANY securities attorney and speak to them. If you are running an LLC without being registered and I have deposit with you. I lose make 1k on one trade and lose 1k with another, by law and per the SEC, the trader is entitled to both the gains and losses. Not having a 7, one can play the dumb card and say I didn't UNDERSTAND the risk involved.
The 7 once again proves you have an idea of risk involved. Call up the NYSE and ask, that is one of the biggest reasons. You need a number? I can have you speak to someone.
Don, will you please talk to this guy. I'm getting tired of being the spokesperson for exchanges.