Hey Serge! The biggest or disastrous thing that will happen when Genesis do self-clearing is that traders with your company will gonna have dramatically reduced number of shortable stocks. Why do I think this way? Because if your company does self-clearing, it will be for your customers and prop traders therefore your company will not have much capability to provide shortable stocks. Do you know how disastous it would be for day traders? With limited number of shortables stock list, day traders have to just watch stocks going down but can't short.. Mmm bad... That is why I don't like companies with limited number of shortable stock list(InteractiveBroker is one of them) and most of them do self-clearing... I may be wrong... If I am, correct me, Serge!!! Your comment would be appreciated!!!
Newton, You are absolutely correct in your logic. However, we have anticipated this even, and built relationships with large firms to use their borrowed list. I thank you for your concern, but fortunately we saw this one coming Also, if for day-trading - it is fairly easy to get the stocks, all one needs to do is "locate them." If a stock is not on our short list, let us know which ones you need and we will locate them for you. I hope I answered this adequately.
Hi Sergi, Since you did not answer this question asked by different people I'll repeat it "What is the minimum monthly volume required to get the software free?" Thanks
Dear Serge. I got your point that Genesis will have a backup-system for providing shortable stocks. HOWEVER, that thing you just explained isn't good enough to persuade active traders who does shorting. Here is an example. -------------------------------- 1. Let's assume that I am an active trader with your company and I work at home and now I spot out an opportunity that I can make big money by shorting. But the stock I wanna short is not shortable. 2. I know that I can get it shortable by asking you to make it shortable for me. 3. So the next step is that I call or email you. 4. But Genesis is not available to receive my call or no body looks at my email. 5. I keep calling or emailing until someone at your company respond my call or read my email. 6. But it's too late since the best timing for shorting a specific stock is gone! even though now I have that stock shortable. 7. IT'S JUST TOO LATE!!! ---------------------------------------- The reason why I try to show the above example is that many small securities companies don't have enough staffs to deal with their traders' or retail custommers' requests. Simply they don't have the system that works fast!!! And I also personally foresee this with your company since I tried to call your company and sometimes there was no one to serve me except a female secratary !!! If your company wanna become real competitive, it has to have the system that CYBER TRADER has. With them, if I wanna ask some stocks shortable, I just use communication window which is just a part of their trading platform(CyberX2) and type what I want, and staffs always respond whithin 10 seconds and give me what I want. It seems that there are always someone who check communication panel for their customers. So with Cyber trader I don't have to call nor email them to ask them to make some stocks shortable to me!!! To sum up my point, it's the real system that works not the nominal promises which will be useless in terms of response time. Serge I wanna ask you something. Does or Will Genesis provide equivalent system that Cyber Trader has to provide more shortable stocks to its customers in terms of fast response time? If Genesis does, I will consider to have an account with it. Please let me know.. Shorting is very important especially in the bearish market like Today.
I see your concern. One thing out platform does have, is the chat function. During intra-trading we respond extremely quickly to your concerns (you do not need to call or email). We are mostly a professional direct-access service and we do our best to cater to the traders' needs. We are currently working on expanding our short-list, by using large firms' lists. Therefore, in terms of communication while trading - the best solution is using our built-in chat system - that gives responses very quickly! Let me know if you have questions about this. You raise a good concern.
1) How long have you been in the securities industry? 2) What are the names of the owners and principals at your company? Have you or the principals ever had any problems? 3) How old is Genesis' existing business? I'm not interested in when they were founded. 4) Who does Genesis clear their trades through? 5) Who developed and who owns the trading platform? Thanks
These are good questions. But especially, I wanna know who developed and who owns the trading platform. Would you let me know who developed and who owns the trading platform? And who else use Laser except your company? ======================= One more question It is nice to know Laser has built-in chat system. It makes me curious about other thing. Is there anyone in your company who is dedicated to monitoring that chat system so that he or she or they can give me new shortable stocks? My point is that there is a big difference between having a online chat system with no staffs monitoring it and having a online chat system with some dedicated staffs monitoring it every minutes. Serge I know I am picky! But I have been bullshited by many brokerage companies that promised me amazing services but those were nominal so I had to find another one over and over again. So before I choose your company as my new brokerage firm, I need to know every detail about the quality of your services. So Please answer my questions ASAP. Thanks.