Prop Trading Firms - Note On Threatening Regulatory Developments

"Sub-LLCs of Andover went out of business"

 

Large companies such as RBC Capital that purchased other financial companies that had prop trading didn't want anything to do with prop trading

 

Would a day trader's deposit at a prop firm be subject to SIPC

protection (up to $100,000 Cash)?

 

"If regulator examined company and they had sound books and money in accounts but NASD clamped down on leverage and now required 4:1 Greentrader thinks NASD would oversee shut down"

 

If shaky outfit and already bankrupt or out of money Hedge Fund, or pyrimed scheme, depositors may be out of luck

 

Can do a search on:

Worldco LLC

or Harbor Securities

 

Do due dilligence:
licensed Broker Dealers that are not sub LLCs, that are members of regulatory bodies are good firms

About 6 major firms right now

 

"Proprietary day trading firms can adapt to new regulations (4:1)if enforced like Bright Trading".

They don't necessarily have to go out of business.

There are other options.

 

Ms. Cohen of NASD , downtown NYC office is handling this matter.

Greentrader"
"Haven't heard anything from her in recent few weeks."

 

Thanks for letting me know about Bob's chat...I guess I missed the memo, LOL.

If anyone has questions, feel free to PM me or email to: don@stocktrading.com

Maverick and I may have a Prop trading info chat in the near future as well. Trying to keep all this as "real" as possible.

All the best,

Don