Just curious, is Bright still anti-nasdaq? I think their deposit requirements for nyse is $25k and for nasdaq is $40k to $50k. From what i heard, the brights hate nasdaq and tell potential traders that they can't make money trading this market. sounds a little closed minded IMHO, but i could be wrong, so if any of you Bright "nasdaq" traders have some useful info concerning this area please enlighten us.
Yes, Bright is still anti-NASDAQ and requires higher capital requirements (unless you can convince them to let you trade smaller shares with less capital) At least they now offer you L2 (for an additional fee) but I think they only give you access to REDI and ISLD routes. REDI will technically route your order the best way but sometimes you just want to pref a MM or hit an ECN. In Bright's defense, I believe Echo has higher capital requirements for NASDAQ, too. Fletch
Just a note . The Bright brothers have a successful trading organization that is built on mainly NYSE trading. As a trader and firm owner , I can see benefits of trading NYSE. You get price improvement many times when trading NYSE. If you trade JNJ,GM ,IBM and other S&P 500 stocks , over 80% of the volume is done on the NYSE floor. NASDAQ market is "fragmented" and more volatile. I could trade 3000 shares of GM(on most days) with less risk than 1000 shares of CIEN. I know we are not comparing apples & oranges , but the point is I can trade at a centralized market place with potential price improvement and a "real" order book(the specialist keeps). The NYSE & NASDAQ are really two different markets. Over 60% of our traders volume is NYSE. Our top traders in our firm (P&L) only trade NYSE stocks. Is NYSE better for traders than the NASDAQ? That is a matter of opinion I leave up to you. Gene Weissman Managing Member Stocktrade Network Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
I try not to be biased in my replies or tout our firm , but for any interested traders , we offer REDI+ for NASDAQ with links to REDI,ISLD,INCA,SuperSOES & ARCA and soon BTRD. I would reccomend a $25,000 minimum capital contribution for NASDAQ. Any professional trader will tell you, this is minimal capital. We will sponsor experienced traders for the Series 7 test. Gene Weissman Managing Member Stocktrade Network Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
Gene- Does your company have ticket charges? Have you considered a price structure like Bright or Echo? Fletch
We offer professional rates based on volume. We start at .03 cents a share and go down to .0125 cents a share-no ticket , no ECN , No MM fees or minimum charge. I don't like to tout our firm on boards. We have been around 5 years with a very good reputation. If you are interested in trading with us , send us an e-mail at info@stocktrade.net . Gene Weissman Managing Member Stocktrade Network Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
gene, is that 3 cents or .03 cents a share, if it's the latter then sign me up. i'm guessing it is 3 cents.....let us know.
Our rates are .03 down to .0125 cents per share. 500 shares would be $15 at our highest rate and $6.25 at our lowest rate. There is no ECN,MM or hidden charges and no minimums. In terms of rates, we are not the lowest or most expensive. All I can say is you get what you pay for. You can trade NASDAQ/AMEX/NYSE with us. Matchpairs,Synthetic Puts, Calls & "Bullets". Series 7 license is required. I really think too many traders are concerned about just rates. How long is a firm in business? Does the firm hold back any funds? How long? What are the hidden fees? Are there any minimum charges? Can you trade remotely? Is the trading desk manned by professionals? Who is the firms clearing Broker? Sure rates are important, but if a trader can't make money at .02 per share, he probably can't make money at .01 per share. The .01 rate usually quoted by firms is NYSE non-billable, so NASDAQ and billable NYSE is usually more. If you are a real "trader", our firm and most others will give you competitive rates. ECHOTRADE, Bright, ETG , Lieber & Weissman & On-Site,L.L.C. are well known trading L.L.C.'s. On-Site was recently acquired by A.B. Wately (pending due diligence). Call each one ask some of the questions I mentioned. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
>Our rates are .03 down to .0125 >cents per share. I think after your clarification, it's clear that your rates are .03 to .0125 *dollars* per share, not "cents". In terms of "cents", your rates are from 3.0 to 1.25 cents. I think we probably all knew this and the clarification was ask for half in jest. JB