Interesting - I just assumed because they were SIPC, that "all" these issues would be in automatic compliance... Well, I will ask these questions of them... nitro
Cybertrader now offers bullets with their newly released software build 3.5. They also have $10 trades up to 5k shares. Cyber's commentary... Bullets/ Mary Puts (via Transcend) â With the inception of Bullets, clients will now be able to establish positions (Conversions) that enable them to short stocks without being subject to the downtick rule. This form of Conversion can be established anytime during market hours and has a limited lifespan of one trading day. Please note, Bullets are better utilized for NYSE listed securities based on the NYSE up tick/ downtick calculation. In the event of a massive sell off, clients who have established Bullets will have a much greater opportunity of establishing a short position because they are just selling instead of having to short. They can hit off the bid if they want. To established bullets at Transcend clients must be approved. It is important to note that clients have to cover the sell on a Transcend position by market close or CyberTrader will cover the position for the client. -- Z
If Schwab is doing it, then the odds of us being able to do it are much higher. I'll pass the info along.
Z!! Good to hear from you! Where have you been? How are the Samsungs? I thought you were gonna post your setup? BTW, thanks for the info above - the plot thickens... nitro
The introduction of SSF does not solve some of the problems that bullets do. For example, SSFs will not be available on all stocks.
Def, Any update on whether or not IB plans to offer bullets in the near future (within 2 months) ? Gambler
How do firms offering bullets offset the risk of the synthetic long position they are holding (the firm, not the trader) for the duration of the bullet? O.
Def, SSF commission is 1.00 per contract. Up to five contracts same as stocks. Then over five contracts commission is more expensive than to do stocks. Any idea if .50 per contract over 5 to make it equal to stocks? Bert
Tell the exchanges to lower the fees and I guess it will happen Outside of that, let's see how it goes. Our chairman has been agressive in the past when setting rates so I wouldn't rule anything out.