Has anyone heard of Avidus Trading- I am looking at switching to them from another prop shop. They say they can offer me commissions under .002/ share and much cheaper desk fees. They are using the Genesis laser software, which I am unfamiliar with, I trade mostly, NYSE stocks and am wondering if the execution on this software is good. Any information on Avidus and the Genesis software would be appreciated
The LASER platform is great, but designed for trading Nasdaq. It''s apparently awful for trading NYSE. I'm sure others can verify this.
Genesis is very strong in listed as well as NASDAQ. Genesis has 3 DOT (and NX) lines to the NYSE. We currently execute over 12 Million shares a day on listed. I would recommend to look into laser closer for listed trading.
There were a few guys a while back that said they had issues with NY on Laser. I've been with Genesis since January, trading >90% listed (about 1.5M/mo) and I don't have any of the issues they spoke of. Maybe they were a competitor, or just traders with a bad connection. ttbodnar what type of volume are you doing to get sub .002? Is this for remote, or in-office?
How does Genesis get orders to the floor? Are they [you] NYSE members, or do they use a third-party, like Jefferies/Helfant?