I'm currently a prop trader with S7/63/55 and plan on leaving my firm in the next few months. My question is that if I leave and trade on my own, am I still considered a professional and subject to the outrageous additional fees from the NYSE, etc for quotes? I know my license is good for 2 years from the date of my U5 but I will not be associated with a firm nor will I be giving out any quotes.
Also, if I decide to chose non-professional and somehow the NASD finds out, what are the consequences?
I've spoken to a couple of quote providers and they said that this is definitely a "gray area."
Thanks for any help.
Also, if I decide to chose non-professional and somehow the NASD finds out, what are the consequences?
I've spoken to a couple of quote providers and they said that this is definitely a "gray area."
Thanks for any help.