Discussion in 'Prop Firms' started by dgmodel, Dec 23, 2002.
anyone here know anything about phlx firms as opposed to nyse? what are the pros and cons???
If at all possible, do no twork for a PHLX firm! I used to, it is not worth it. First, if you are registered through the PHLX, and then you want to trade with a firm that is a memeber of NYSE, you have to go through a waiver process. This is because the NASD does not recognize PHLX as a "real exchange". So in effect, they don't recognize your Series 7 either. Just think, why would all the firms that are members of the NYSE require you to get a 7, 55, & 63, while all the PHLX firms only require you to get a 7? Sure, you can make money working for those firms, and most have the same quality of infrastructure to work with, but it all comes down to: Will they exist tommorrow? MAybe, maybe not, but I would not want to gamble. Hope that helps.
so basically phlx firms are shaky, and stay away huh??? the more and more i go through this business (4years now) the more and more i realise that the entire business is predicated on one simple factor... bullshit... i guess thats why they call it a bull market huh???
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