Best options-centric prime broker

Discussion in 'Options' started by bl82, Apr 22, 2013.

  1. bl82

    bl82

    Anyone care to share their thoughts on which of the prime brokers are the best matches for an options-centric smallish ($10-20 mil) hedge fund or investment management firm?

    Thanks in advance.
     
  2. well obviously there is IB which should def be on any list for individuals/small institutions.

    another one that is more options focused like you said is cuttone and co.

    http://www.cuttone.com/prime-brokerage-services

    another one is convergexprime that has great clearing/custody options (pun intended) like JPM, GSEC. also being part of the converge group which specializes in options is another selling point.

    http://www.convergexprime.com/prime_services.aspx
     
  3. bl82

    bl82

    I appreciate the replies and have put all of these firms on my short(ish) list.
     
  4. What about TOS?

    With volume, their fees are negotiable, and their platform has a lot of features.
     
  5. TOS (now TDA) is IMHO the best options platform however even after negotiating fees you're still paying more than IB or other brokers (lightspeed, OH eoption although i'm def not rec the latter). i've never heard of anyone getting TOS to go below $1 per car w/ no trade ticket fee.

    another problem is the freezing of the platform during high vol events (like the twitter incident last week). although IB is criticized a lot for their "snapshot" feed at least it doesn't freeze up like TOS'. besides if you need a true feed for scalping just pay the extra money and get IQ feed/kinetick esp w/ the exchange rebate programs that waive cme fees it's not too expensive esp considering you could make/loss 100x the fee in the high vol event.
     
  6. I've heard deutsche bank is good, but 10-20mm might be too small.

    They gave very favorable correlation treatment.