If a person is managing opm in the form of a hedge fund or managed accounts (esp a hedge fund) are they required to have a series 7 license even if they are trading using an automated trading system? Having read many of the posts on this forum...allow me to anticipate some of the responses and get them out of the way right off the bat: - you're an idiot - if you are asking a question like that...you are nowhere near ready to manage a hedge fund/ opm - Get back in the kitchen Fantastic...now that we've got that out of the way...I hope that your responses will be enlightened and helpful.