You trade away when you trade with a broker that is not your clearing broker eg you clear with Goldman but you have a mate/like service at say Leh so you give the order to Leh they execute the trade but give up the trade to Goldman for clearing as thats where your funds are. Hope it helps
It turns out the brokers I wanted to deal with were much more open to having me write them a check for their research than I expected, so I kept my account at IB, and at least this year, am not "trading away" I investigated several firms and I thought RBC Carlin would have been the best for me if I had made a switch.
Sorry to hear. I was thinking of Grace Financial or Alaris. Carlin I have on the list as well. Thanks for you comment.
It's a good thing. I got the research and coverage I wanted and I didn't have to switch. IB has lower commissions and I don't have to deal with the headaches of learning a new platform and accounting of "away trades". Another company, Merlin, you may want to check out as well.
Yep I know Merlin. Actually, I have on my list about 20 companies, which do offer some kind of mini prime brokerage.
Very interesting. How does it actually work in pratctice ? Do you have access to a broker's research website and then pay-per-view for each downloaded research note ? Or are you using a research portal and receive entitlements for the broker that you have a relatiojnship with ? Regards, Oliver
Anybody use Saratoga Prime Brokerage? They have 3 clearing firms to choose from for Stocks and as well as for futures