Eddie Franco (COO) of Bright will be meeting with a firm in Red Bank, N.J. on Saturday 3/9 regarding establishing a Bright office there. Spoke to Eddie last night and he said that if the deal is closed, the office can open in approx 6-8 weeks. He is also looking at opening an office in Morristown, N.J. (or that area) also, but it sounds like the Red Bank location is more certain.
6 to 8 weeks....I've heard that before!!!!! Try 54 weeks...cost me about 15 grand in traveling cost and missed trading opportunities.....I heard a lot of excuses but no offers to help out. I was very disappointed in these guys, I thought they(bright trading) had more integrity than that. Oh well, live and learn i guess.
I thought I would dive in here to respond to your concerns. I agree that there has been a couple of times when obstacles out of our control hampered our office expansions (registration, leasing concerns, etc.), but we have also opened 40 locations in just a few years, so I think our record is pretty good. We have always offered alternative trading possibitlies to those who are already members of the firm. I am sorry that you missed opportunities, but we are doing our best to make more opportunities available to everyone who wants to trade. If Eddie Franco puts something on the "fast track" ....it will happen.
I was in Philadelphia this weekend, apartment/ brownstone/ house shopping. I will visit offices when possible, perhaps as early as the beginning of April. I am/was close to the top of a large firm. While not a decision maker, I did watch much of the development close up. Opening Branch offices can be a b_tch, especially during late 2000 and 2001. I was to open an international branch- but conditions were brutal, and months of work was left in the dumpster. While I welcome the opening of branches in the vacinity, I wouldn't hold my breath. Morristown would also be iffy. Lots of wealth around there, but small to mid size 'shady' customers can be a drain. Not sure how the talent pool for proprietary guys would be there. The defining criteria is seeming more 'who can support my options business'. I average 1000 to 1500 contracts per month. It has become a valuable part of my trading. Any thoughts on this? A good execution system where I can see all the exchanges and float limit orders with reliable/fast execution is very valuable to me. -Kestrel-
A. I was a member and the only alternative i was offered was travelling.....when i traded remote i still had to pay the full $600 desk fee, but all i received was rediplus. B. So i guess if Eddie had put my office "on the fast track" it wouldn't have taken over a year when all along he kept telling me another 6 weeks. Bottom line, i don't want to start nitpicking about the details. Just admit you guys dropped the ball on this one and i'll let it go.
that we had some problems with a couple of offices (Toronto is still a concern), due to outside circumstances. And I am really sorry that you were not able to participate fully with us. We took longer than we wished in Reno and Atlanta as well, and it was very upsetting. I do wish you the best of luck in the future. The remote fees are only $200 /month now, and we are doing our best to accomodate everyone.