We've been with SLK since 1978. They are now GS, just the way it goes. The reason for memberships in CHX and PHILLY are to save the TRaders money on annual dues, not us. (A bit slower today than yesterday, eh? - come on market, pick a direction, LOL). Don
Just reviewing all this for fun (a bit boring after yesterday's move)... Our traders receive interest daily on their credit balances, including short stock interest...and, BTW, so many of the comments made here are just plain outdated or simply wrong. Don
How big of you... as any retail broker would. Don, what % of your trader population is profitable, net of comms/desk fees?
Don all prop firms I'm aware pay interest on credit balences. You guys are not the only ones in town doing that. In fact, it would be not only unethical, but bad business if you did not pay traders what they are rightly owed.
Please give me a name of a retail broker who pays interest on short stock, I'll move a couple of accounts over (I know most prop firms do, of course...I wasn't making a distinction between us and Andover or anything).... Our success numbers have been posted several times, do a search...same numbers as reported to the regulators. Since we have newbies and experienced traders both, it was broken down by longevity...mainly "past the learning curve" (which we all go through)I don't have the numbers at my fingertips....how about posting your firms numbers for me, as some sort of reference...a bit unfair to do "battle" against an unknown with people with aliases. As I've said before, many times...I would be more than happy to have a live , hospitable discussion with the owners of any other firm, along with their traders to discuss any and of all this... I think Baron and crew would be glad to host it....let me know, it might be well received by the whole board. (I'm serious, not trying to be "sh#$%Y" about it). (Wow great "FED" move...quick 2 + point profit just by having orders placed ahead of time...that's the kind of trading I like, LOL). All the best, Don
www.interactivebrokers.com pays on shorts. My firm's numbers? Well, considering I work for a fund it's not relevant, eh? Did Bright LV have an Absinthe lunch today?
IB does pay full short stock interest? Wow, I am actually surprised....I'm actually glad since they are the only retail firm I have ever recommended..... (No booze for lunch today, damn)...LOL You made a point for me...I have no idea whether I'm chatting with some kid in junior high school (like in my day causing trouble with random and crank phone calls, ala Bart Simpson)...or Steve Cohen himself (doubtful, LOL)...regulators (probably at times, since they "have" to read everything I post) knowing full well that my I'm probably the only one who has to be concerned about regulators reading what I put up...or you and your fund.... so I try to treat everyone with respect, answer questions, do my best ...offer as much as I can about our business whenever possible... some see "guerilla marketing" - some say "how do you tolerate these people" and those who really know me understand that "what you see is what you get" - we have a great family business, have helped hundreds make a lot of money, and offer an alternative for those coming with "eyes wide open".... This may be longer than I want, but I will post again the whole reason that I joined ET to begin with....in the next post... All the best, trade well... Don