They started out two years ago, first as a branch of Generic based in 39 Broadway. With around 30 traders - all hard core worldco guys. Their leader/head trader was a guy named Dave Perault, a size trader by anyone's standards. He was with Walter since the begining and tough a lot of the guys at worldco how to trade. He is a very good person and a superb trader. Figthing over a disagreement with Walter, and tired of his constant lies, he colluded with other traders and left worldco to form his own company. That company today is the Lions Group with two offices in New York and one in Miami, large office with only few traders, the manager in Miami is a guy by the name of Keith Hernendez, huge MOC trader. All the heavy traders in the company are owners. This company is full of the best talent that Worldco ever produced and walter is still suing dave for 250Million
Don, Are you happy with the new management at SLK? What does Bob Kantor say about leaving SLK after 30 some years? What did you think about ICS clearing when you spoke to them?
Yup...Dave left Worldco with a boat load of the best traders at Worldco. I heard that he was pissed at Walter. Dave trained a lot of traders... which made Worldco A LOT of moola....but Dave got nada. So what happens when you nickel and dime someone who has done a lot of for the firm and has an IQ over 20? He leaves and takes his crew with him. Worldco is mostly newbies now... with only a handful of "size" traders. In the last two years Worldco has probably brought in around 1000 traders. Now what do you think Worldco is interested in..Quality or Quantity?
GS/SLK could care less about Bright, Lions, or... These firms generate a very small % of their profits now. FACTS are: REDI can't be used for NASDAQ stocks because of delay in data delivery. REDI's day trading clients are on the back burner when it comes to support. And they definitely get the worst servers at SLK. REDI is old code written years ago and can no longer handle todays trading data. It simply is held together by band aids. Let's be real GS/SLK knows who butters their bread.