Problems at Genesis?

Discussion in 'Prop Firms' started by protrader914, Jan 10, 2011.

  1. Has anyone heard anything about Genesis Securities closing or at least eliminating their self-clearing operation?
  2. cstfx


  3. gaj


    yes, they're clearing through penson now (ugh).
  4. cstfx


    They've always had a clearing relationship with Penson in addition to their own services
  5. My question actually concerned them remaining open. I've heard (but can't verify) that they were shutting down the BD.
  6. gaj


    ok, to clarify; they previously had a short list of about 7000+ stocks. after the change happened, they had the identical short list which penson provides on their other sites.

    i'm not sure of the exact wording involved, but their short list used to have many more stocks which the penson-exclusive other sites did not have. now they're identical.

    (and i'm looking to open another account at another brokerage which has a more robust short list; i have IB already).
  7. NKNY


    Hi Gaj, how is Ib's short list compared to penson ? what other brokers have a good short list. i assume you dont like