Worldco Going Out of Business

spyderman · Oct 15, 2003

A very telling story.....year to year, the listed markets are up 30%, NASDAQ 50% and most prop firms struggling to stay afloat. While not entirely impossible, day trading, in "normal" markets is very very difficult.

axehawk · Oct 15, 2003

What do you think average capital per trader is stuck in the Worldco "Evil Empire"? $3000, $10000, or more?

execute2 · Oct 15, 2003

I have 15G in the firm. Some have much more, some much less. All execution systems have been turned off as of 8am this morning. A "mandatory" meeting is in progress.

mpow · Oct 15, 2003

Quote from spyderman:

A very telling story.....year to year, the listed markets are up 30%, NASDAQ 50% and most prop firms struggling to stay afloat. While not entirely impossible, day trading, in "normal" markets is very very difficult.

Actually, daytrading in very "light" markets is very difficult, although not impossible, for traders. I still know traders pulling in over 6 six figures so far this year from daytrading. Prop firms get hit when traders are doing 30% of their normal volume from same time last year, like what is happening now.

Btw, i hear wldc is done and last payout checks on friday.

Lights · Oct 15, 2003

Quote from I Missed Boat:

Only if they didn't plan properly. Other firms dealt with the same changes and many of them have and will survive and possibly thrive.

all firms are going down i hear...

axehawk · Oct 15, 2003

The question is...

...who will be the next firm to go down?

javs5150 · Oct 15, 2003

Rumor has it that Schonfeld is buying what is left of World co. He wants the clearing.

Bond Trader · Oct 15, 2003

Any fire sales? I could always use trading desks.

Maverick74 · Oct 15, 2003

Quote from javs5150:

Rumor has it that Schonfeld is buying what is left of World co. He wants the clearing.

LOL. Isn't Schonfeld on the verge of going under themselves? What do we have the blind leading the blind here?

I Missed Boat · Oct 15, 2003

Quote from Maverick74:

LOL. Isn't Schonfeld on the verge of going under themselves? What do we have the blind leading the blind here?

Schonefeld is nowhere near going under. And they came to a deal with Worldco and its traders on enticing Worldco traders, but they are not buying any part of Worldco.