Portfolio Margining & Account Minimums

meir13 · Jun 17, 2008

Hallo there,
if you have come up in touch with Portfolio Margining. Please be so kind, to write here the name of firm and minimum account size to get approved for PM plus anything what will be handy for others. PB stands for Prime Brokerage

Newedge USA
PB account 1M

TOS
Regular account 100K

IB
Regular account 100K
PB account 500K

OX
Regular account 100K

Penson Clearing Only
PB account 550K

GSEC Clearing Only
PB account 2-5M

OptionHouse
Regular Account 250-500K

Lek Securities
Regular Account 250K

QHTCapital · Jun 17, 2008

Options House - $250k
TOS - $100k

Euler · Jun 18, 2008

Good idea for a thread -- it's nice to have all this info summarized in one place.

I can also confirm Penson $550k for PB -- they also have a fee minimum of I think $5k/month. But you may be able to get a non-PB, Penson "introducing broker" to do this for as little as $100k; I don't know which ones, if any, actually offer this.

http://www.financialnews-us.com/?page=ushome&contentid=2347465974

meir13 · Jun 18, 2008

Actually I can do PB with Penson, subject to minimum USD 2500 in fees a months. Looks like minimum fees are more up to introducing B/D than Penson itself. TOS is clearing with Penson and has minimum 100K for Portfolio Margining on regular account.

dethkultur · Jun 18, 2008

I've heard from some TOS customers that they are considering lowering the threshold to 50k.

blackjack007 · Jun 18, 2008

Quote from dethkultur:

I've heard from some TOS customers that they are considering lowering the threshold to 50k.

i hope not.

anyway that decision is more controlled by their clearing firm than tos.

makloda · Jun 18, 2008

So whats the minimum account size for an institutional prime brokerage account with

a) GS
b) LEH
c) MS
d) BSC/JPM

meir13 · Jun 18, 2008

For GSEC PB from 1M via third party B/D, GS proper I believe is 10M.

MS PB is 5-10M

LEH PB No idea

JPM/BSCPB I believe used to be 1M via third party B/D, 5-10M directly

Just to add one more, directly Pershing Prime 10M.

MER/Broadcort PB account via third party B/D 1M, may be less.

RBC PB in US 5M. RBC PB London 1M.

meir13 · Jun 18, 2008

One more PB Fidelity Prime 10M

hilojack · Jun 18, 2008

LEH PB- Uh don't worry about it. We'll take any amount!