Schonfeld Securities and commissions

boredtrader · Mar 19, 2003

Is there anyone who works in Schonfeld that pays less than the penny per share commissions ?

To me it seems like waaaaaay too much it really sinks into my net profits. I've been told everyone at Schonfeld gets the same deal. Is there anyone who gets any different ?

hardrock375 · Mar 19, 2003

geez...

okwon · Mar 19, 2003

I heard people at Schonfeld are paid a % of gross??

QuoteBoy · Mar 19, 2003

Yes - there are traders at Shony who trade Gross.
There are different deals.

Look in the Brokers section.

boredtrader · Mar 19, 2003

traders at schonfeld receive somewhere between 55-70% of their net or 20% of their gross. As I understand it they all get charged the same commissions when it comes to their net. Please someone tell me if this isnt true.

bmwstox · Mar 19, 2003

There are sub LLC's of Schonfeld, a group I know of pays around .006 per share. I beleive the current payout at Schonfeld is 20% gross with 8 % deferred.

BMW

okwon · Mar 19, 2003

I also saw on another thread here that only a small, select group of traders get to use bullets at shonys. Sounds kinda strange that they would do this. Is this true?

jay15 · Mar 21, 2003

does anybody else offer gross deals?

TM_Direct · Mar 21, 2003

Quote from boredtrader:

Is there anyone who works in Schonfeld that pays less than the penny per share commissions ?

To me it seems like waaaaaay too much it really sinks into my net profits. I've been told everyone at Schonfeld gets the same deal. Is there anyone who gets any different ?

I know a group that pays less then a penny. way less

limitdown · Mar 21, 2003

Quote from TM_Direct:

I know a group that pays less then a penny. way less

true cost is ZERO.

the clearing firm sets the base commission rate, and the brokerage that one goes through sets the markup from that base.