Opus pays low 20% of gross monthly, 50% of net every six months and there is scale to approx 60% of net (based on total net $$, these targets require pretty high net #'s unless they have changed it). They also hold back 5-6% of gross for 2 years and pay it out as a revenue "kicker" when that milestone is reached.
Those numbers are off, they have changed the percentages around and are higher now. But keep in mind, those are ONLY if you do not contribute any capital, if you put up money you get a much better deal.
It doesn't look to be active from the Schonfeld website, just brings you to a dead link last time I checked.
Nope, no joke. I don't think thats a bad deal at all if you dont want to put any money up. They may have adjusted it slightly in the last 2 years but that should be pretty much on. Remember, If you are successful it's likely you could have anywhere from 5-15 mill in bp intraday and HALF that in one direction o/n. Senior guys can use as much as 90% of their total bp in one direction.
(According to a couple of recent transferee's) My understanding is that Schonfeld absorbed ETG a while back. Then Penson took over the Schonfeld clearing business. Schonfeld shipped retail traders to LightSpeed, and Schonfeld is primarily Institutional going forward. (hard to know for sure on any of this, but FWIW). Don