I agree that Assent management never gave a crap about the traders, but the Anvil platform was rock solid. It is/was by far the best on the street.
for months now a few firms have been positioning themselves to absorb. lol, its crazy i thought they just had some pie in the sky idea of this actually going through but looks like they knew something ahead of time. will be interesting to see which of these firms ends up taking the bulk. my guess is going to be the firm that offers the most free stuff/pure gimmickery all things being equal in terms of deals.
Madison won't get any of Assent's decent traders. Most of Assent's traders are there because of the top notch software, which Madison doesn't have (Redi will NOT work for Anvil guys). Also, Assent's pricing is much cheaper, so Madison's significantly higher rates will attract very few. Most of Assent's current decent traders will remain trading on Anvil long after Assent's prop desk is gone (end of June). Assent clears other broker dealers and institutions, who will remain on Anvil. If you want Anvil, you'll have to find one of those.
lol madison doesn't even have a working web site. most of assent traders are series 7 and use leverage so a lightspeed wouldn't work for most as they don't offer that so that leaves bright or echo really and a few others.
There is no scare here. Assent the company is not closing. No one will lose money. (The only scare was a bit of a 2 day rumor frenzy when not 1 person I know who trades at Assent requested capital out of the firm.) There is no rush - they are, in an organized manner - winding down the prop and retail (over 2.5 months I believe). Saying your money is safe at Goldman as part of a sales pitch with deposits from 5000 to 25000 are laughed at. All registered BDs are audited daily by their FINOPS and watched closely by their exchanges (healthy balance sheets help of course). Anyone who is real trader knows that money in Assent was much safer in GS when it mattered in the fall of 2008. And if Madison keeps flopping around (like Assent) it is going to be the next firm to need to reorganize its business lines.
Guys, whenever these types of rumors or actual changes are taking place the vultures quickly come out and start circling for fresh bodies. Beware of 1st time posters like the deleted hhhippo28/nutraderxxx/boldtrader18 who were having a conversation about another firm (that was conveniently looking for traders) and all three shared the same I.P. address. Anyway, Caveat Emptor or for those a little rusty in their Latin "let the buyer beware"...
I'm seriously considering and planning to start my own B/D. I have been talking extensively to a couple of ECNs to strike a deal before the Assent blow up. I do have a server in my basement and am planning to build another one next week. The only problem is I have to remove all the porn (5 years worth) out from about 5 Hard drives (2 TBs each drive). I'll most likely get a lot more HDs though. A B/D must be efficient. As for my Assent account. I will miss Anvil a lot. It's a crossbreed between the colorful Barney's Play Along computer games + Etrade Level II software. It's quite entertaining. But there are other great softwares out there. So you guys shouldn't be scared. You might just want to take a dip into the Dark Side of the universe and build your own black box. As you all well know. The game is unwinnable due to black boxes these days. (and we all know who and what group builds them) My group leader says these rumors might be true. He hasn't shown up this morning yet. I don't really blame him. Once my B/D is up and running, it'll be a safe haven for you guys. THE SHIP IS SINKING!!!!! JUMP OUT WHILE YOU CAN!!!!!