CBOE/CBSX prop firms?

Discussion in 'Prop Firms' started by nytrader888, Sep 10, 2009.

  1. I am looking to make a switch to a CBOE/CBSX Prop firm being you don't have to have your securities licenses. Does anyone know where I can find a list of CBOE Prop firms? The only ones I know of are listed below. Can anyone add to the list as I would like to check out the deals with all of them. Thanks

  2. Are you looking for a deposit firm or all CBSX registered prop firms? Because my understanding is that WTS does not take deposits.
  3. ( I realize that I've said this before, but apparently there is a directive from the SEC and a discussion during a CBOE Membership meeting.... so it may be getting closer to reality)..

    And, yes I may have a pony in this race too.... but, I hear from 2 completely different sources that the SEC has told the CBOE that they must register their trader firms and traders by year end.

    It may or may not be true...I do suggest that you ask the Firm you're planning on joining to share any info in this regard.

  4. Don this is very interesting information can you provide me with a link to the conversation had regarding CBSX traders having to be licensed by years end?

    What would of been the point to start all these CBOE/CBSX models then? they were built to take traders without securities licenses. Any insight would be appreciated as this would be a big decision maker for me.

  5. WTS does take deposits
  6. gtgtgt3



    Please provide a source for this information please. I find it VERY hard to believe. Wouldn't that mean that all the option traders, who offset their trades on the CBSX, would also need to pass the Series 7? That will never happen!


  7. My "source" is a long standing multiple seat holder on the CBOE and friend. The history is that the CBOE had never anticipated having "upstairs equities trading firms" in the first place... only options trading firms who might, once in a while, offset with some equities...not full blown trading firms. A few of these firms used this "angle" to go ahead and start brining on traders who were not affiliated with options floor trading.... not many, but a few.

    As I find out more, I'll post simple notes... and then take it to PM.

    The term "level playing field" has been bantered about as well. With all the "stuff" going on with the various regulatory agencies... who the heck knows.

    All the best,

  8. mews


    If they plan on doing that by years end, thats a lot of work. From my understanding, CBSX firms currently arent set up to house licenses even if they wanted to. Maybe that will be the end result, that they will all need to be licensed, but by years end doesnt seem at all realistic, even as a rumor.
  9. any more info on any of this?

    #10     Sep 27, 2009