firms memberships in exchanges

(and they lost 500 traders from us alone that year).


spring 2000 don...just keeping you honest. calm down. :eek:

i think i see where others get frustrated with you. you were talking about 2 1/2 yrs ago then you fast forward to the present and talk about your "current" traders. very simple...no biggie.

 

BTW,

A very helpful office manager from Echo informed me that the yearly fees for the PHLX are $250 for the year, not $500 as previously stated.

I checked the site and this is correct.

http://www.phlx.com/exchange/feeshapp.html

 

Why did echo move to the philly? Because the merger? I have not seen any of the tools they said they would offer because of the merger. But it seems I have had to fill out a bunch more paperwork.

 

Sadly, if these boards are any indication, these "tools" don't seem to be worth the wait...

 

yes, because of the merger.

 

When does ECHO charge its members for the philly exchange fees? I know when it was part of the Pacific Exchange, you had to pay a few months after joining. Is it going to be the same or do you have to pay immediately after joining?

 

Was looking though some older threads and ran upon this one.

There is another option for some of the firms. Which is registering with the NASD instead of an exchange. WorldCO and Andover are this way. Not sure who else.

Yearly fee for NASD is just a measly $85 a year.

Robert Tharp

 

its seems mostly everyone is replying in terms of price, but I was wondering if there are any other advantages/disadvantages in changing membership. For example, a prop firm that I am looking into was registered with the NASD, but they are in the process of changing to the Pacfic. What could possibly be the benefits other than price.

 

one advantage of the philly is that they grandfather the series 7. i think the pac does this also.

 

I always thought the main reason some firms didn't do the NASD thing was that if they did that all the traders would have to take the series 55 exam.

True or False.

Also I had heard that if the firm was an NASD firm they could sometimes get extra benefits like for instance if the firm bought a bunch of Dell workstations for their traders, the NASD had negotiated with Dell to knock 5% or so off the price tag for their memembers. That would add up to 1000's for some some firms.

Gotta be some perks somewhere. Isn't that what AMEX says, membership has its privlages or something like that.