Something I just thought of. There may be a reason why they are choosing Singapore and Hong Kong. The regulatory environment is much friendlier and you can probably get a lot more creative over there with these types of trading schemes. Certainly you get away from all this series 56 BS.
Reason: securities laws risk in the US + easy capital gain laws in Sing and HK. Sing and HK are similar (ruled by Chinese who were educated in western capitalism by the Britiish under the British rule of both).
Something I just thought of. There may be a reason why they are choosing Singapore and Hong Kong. The regulatory environment is much friendlier and you can probably get a lot more creative over there with these types of trading schemes. Certainly you get away from all this series 56 BS.
to the best of my knowledge, no 56 is required if the firm you're trading at isn't a CBOE broker-dealer. Hedge-Fund traders and traders with firms registered with other SROs have different requirements. Hedge-funds and private equity firms only have to work within the rules of retail brokerage accounts. But again, there is no hint that anyone will ever get access to a trading account. They are offering internships with their company, which likely will revolve around their social-media stuff and have no trading involved.
Someone can just as easily trade a demo account at home while downloading free classes or better yet, just save some money and get into a training program that can provide access to capital.
Mav: I did not visit their site, but I think what the idea might be. It is to get a crowd/traffic for free, and monetize it (The wheat with money management, the rest of with ads). FaceBook: photos then monetize. Linked: CVs/links and then monetize, etc. Same game played with different ponies.
Any idea what type of opportunities in trading could this lead to? These type of programs strike me as odd. Is the fact that a JPM principal was the founder lead you guys to believe the opportunity lies with the connections the people behind the site have?
