CBOE rules and requirements on joining a prop desk and terms

Discussion in 'Prop Firms' started by JCastellon, Mar 9, 2011.

  1. JCastellon

    JCastellon

    I have been reaching out to a few prop desks that require a deposit. they are both registered broker/dealers but i have been getting two different answers from them about CBOE rules and requirements. One desk told me that by law of CBOE you can only take 90% of your profits with $5,000 deposit yet another desk told me that i can take 97% but by CBOE law I have to deposit $7,500 and nothing less.

    Is that true? where can i find information about this and other rules/regs?

    Thanks
     
    #1     Mar 9, 2011
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  2. NKNY

    NKNY

    I think they are both bsing you.... I'm with a cbsx firm and get 100%... Also I know they take guys with 5k...
     
    #2     Mar 10, 2011
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  3. JCastellon

    JCastellon

    Thanks, does your desk offer lightspeed? if so may you refer them to me?
     
    #3     Mar 10, 2011
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  4. NKNY

    NKNY

    No they offer Blackwood... My branch has some deal with hold as well so you can prob get whatever software they use. Not sure what they use though. But In that case, I would just go directly with hold...


    nkny
     
    #4     Mar 10, 2011
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  5. ScalperJoe

    ScalperJoe

    Each firm is different, as you've already noticed.

    You can read the CBOE information and legal circulars here:

    https://www.cboe.org/legal/circulars.aspx

    Or you can call the main CBSX office and ask for the Regulations Dept.

    1-866-458-CBSX
     
    #5     Mar 10, 2011
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