I trade around 8-10M a month, but I'm wondering about the "gross req" situation, does that mean Net PNL monthly or just "gross profit without ecn's and fees" ?
Gross amount before any costs. I personally average about 3-6 million shares per month, with a gross of 8 - 15k. I would obviously fall into the 90/10 deal. That being said I would be saving myself about $10,000 - $15,000 a month just in commission costs. This seems like a great deal am i wrong? Payout: 50/50 Rate: .20 cents per 1000 shares Minimum volume req: 500,000 Minimum gross req: $2,600 (min vol and gross combined) Payout: 75/25 .20 cents per 1000 shares Minimum volume req: 2 million Minimum gross req: $5,200 (min vol and gross combined) Payout: 90/10 Rate .20 cents per 1000 shares Minimum volume req: 3 million Minimum gross req: $11,000 (min vol and gross combined) Payout: 99/1 Rate: 1.00 per 1000 shares Minimum volume req: 5 million Minimum gross req: $26,000 (min vol and gross combined)
But wait if you do 5 million shares but only make $8k then you didn't meet the $11k minimum so you would only get the 75% payout not the 90%? Payout: 50/50 Rate: .20 cents per 1000 shares Minimum volume req: 500,000 Minimum gross req: $2,600 (min vol and gross combined) Does this mean if you only do 400k shares but make $100k you only get a 50% payout?
If that was the case, on the last day of the month you flip 4.6 million shares of SIRI or CHTR. You would lose a few thousand in slippage and commissions, but you would make 49% more on your $100k P&L.
I believe this is what Keystone was offering to traders or groups. I went to their seminar seemed like the same exact structure, just wasn't impressed with their high cost training fees.
I does not make much sense to me. You might as well get a good ticket deal or a .003 100 % po no platform deal.