firms memberships in exchanges

NASD Member firms get a discount from Dell. What large corporate client doesnt? NASD member firms also have to have their traders 55'd and usually 63'd. They are obviously among the strictest of the SRO's. NASD Members traders will also be part of the NASDR Public Disclosure program which allows anyone who wants to, to learn about an NASD members personal information. This is lots of fun and can be found here http://pdpi.nasdr.com/PDPI/ You can find out what clothing store or car dealership or restaurant someone used to work at.

 

If they hold the above two licenses, then they wouldn't have to write the Series 7, right???

 

Sorry, the 7 goes without saying.

 

Really???

The manager at Redwood Trading told me in the spring that the Series 55 and 63 would be sufficient to trade prop (and that they're easier/shorter than the Series 7).

 

so what exactly are the advantages/disadvantages of moving from the NASD membership to the Pacific Exchange membership

 

Less SRO regulation.

 

It doesn't take a rocket scientist to pass the 7 ...