Depending on the group you go into you might not have to sign a contract. The contract is negotiable. I run a group there, and we do not make any of the traders sign commitment contracts. The only thing the trader has to sign is a non-compete, which allows them to leave to go to another firm, but not recruit any of the traders from within the company. Things have really changed there, and they continue to work to improve the communications between upper management and the traders.
My understanding is that a self clearing NYSE member pays ZERO commis up to 1099 using nx to send. nitro
Actually you're wrong, Bankerbluechip is not Steve Hold. I know who he is, and the man makes some really good money. He's one of the most consistently profitable traders I have met.
Both terms are used interchangeably. If you decided to leave and start your own firm, you couldn't compete with us by recruiting our traders.
Greybox is awesome. For NYSE traders it has probably the quickest executions I have ever experienced, and I've worked for two other firms. The software itself is extremely stable. The only problems we have is when one of the DOT providers goes down, and there's nothing anyone can do. It's like when Island goes down, no one can use Island, and no one in the firm can fix it until Island fixes it.. But even that isn't really a problem because we just re-route to one of the other two DOT providers. Since I've been there, I haven't had any trading downtime due to software issues.
Out of curiosity, would that cost be strictly the cost of running a T1/T3 into the exchange? Or are there additional costs? It seems to me to be a no brainer either way for a firm to run that line. A [fractional] T3 PTP connection is about 7-10K a month. I would imagine that would be made by a firm in a day or two max. nitro