Mac/refco Trading Services

They want to register as a not for profit charitable firm???? Good luck with that...............................

 

I believe the idea is to charge traders cost pricing, although obviously the clearing business will still make a decent margin. I understand that everybody involved i.e. the traders, will know exactly what they are paying to whom and as volume increases so costs will come down.
I think this is a strategy by the clearing firm involved to take volume from the other clearers but also to take all the profit currently earned by owners of non-clearing prop firms. I am not sure what their current client businesses will think of it.

 

twalker,

nice to read your posts on this forum now...

 

To use a Britishism: B*ll*cks.

If these guys were serious about reducing costs for everyone then they wouldn't sit down in Bishopsgate, the most expensive area for office space in the entire country. Somewhere like Peterborough would be more like it.

Ergo it ain't about reducing costs but something else. Comments?

 

I think the reason they are in Bishopsgate is twofold. They already have a deal on office space which is under lease and vacant so losing them opportunity and also they know they have a ready pool of locals that already work in the area and live all over London who will be looking to move across for the cost saving this will provide. Why wouldn't you open it there?

 

twalker it is obvious you are trying to sell this, how much are you getting for it?

 

i dont think he is.

lets put this in us terms: if you were setting up a similar us operation and you wanted to guarantee success, where would you open an office? detroit/alabama or chicago/new york?

doh!

 

I have no financial interest in this business whatsoever. I have been a self funded trader for years and this looked interesting so I decided to look into it and when I saw somebody started a discussion about costs I posted the link, so don't flame me you cynical b*stard.

 

calm down twalker, i think it sounds like a good idea as well but you get so many guys on ET trying to plug their companies I thought you were doing the same

Are you going there?

 

the "more-the-better" model - if it works, that's an awfully big pie to cut up. Wonder who is negotiating this deal...?

interesting concept...