Assent

does anyone know if lightspeed offers lower rates than the listed $.395 to retail?

does anyone know if assent is going to get a deal with lightspeed or genesis for its customers?

 

As a former Anvil trader LS is the closet system, the down side, LS doesn't have the full book for quotes and their ecn depth only goes 8 deep. The pro's, it is quick, the trade desk and help desk have been one of the best since i have been in this business. It is an adjustment to change but LS will be the closet for the current traders.



I have had no problems scalping stocks like BIDU FSLR ISRG CME, sometimes i have had lags on fed or high volume days but anvil traders have had issues also(along with every other firm).


Good luck to the traders finding a new home

 

Bullshit. Not true. They have their own new software, PicozziTrader Version 1, operating out of a large converted storage shed somewhere in NJ, maybe Redbank but I am not sure.

 

If you're speaking of Avatar, it has been a BD for at least two years now, fully SEC & FINRA compliant. It is a CBSX BD so no 7 required

 

Are there other CBSX B/D who do not require a Series 7?

thanks,

Walt

 

Coastal

 

i don't care were traders go but i hate it when guys like trader 1515 use huckster moves to recruit people. you're obviously with lightspeed now and making some type of overide. my friend is a branch office with assent and says they're moving to a broker/dealer that offers anvil software. so before the many assent traders jump ship check with your office and see we're they're going.

 

does Assent move imply prop business is not profitable?

 

lightspeed is great for scalping, sterling isnt but has many routing options, lspeed doesnt have a ton of routing options for off exchange. basically no dark pool access at all. lspeed is similar to anvil and closely resembles sonics old platform which was very quick. also lspeeds time and sales are retarded they only activate when you tab into a level two box and see the current prints. sux if your trading illiquid stoccks.

 

Probably not enough for Sungard, they probably just dont want to deal with any of the headaches that the prop business brings and with volume down and some losses in the internal backed prop business Assent got into I guess Sungard just wanted out.

Not sure why they didnt sell the whole thing, maybe the clearing business is profitable but they didnt want to deal with the trader support side of the business anymore.