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???