Prop Trading Firms - Note On Threatening Regulatory Developments

Discussion in 'Prop Firms' started by traderob, Oct 4, 2006.

  1. Maverick74

    Maverick74

    You are out of your mind. You don't think IB has a minimum for a portfolio margin account? Why don't you just PM Def and he will tell you.
     
    #201     Jan 3, 2007
  2. You've been sniffing glue. Read the other post. There is brokerage discretion. There is NO SEC or OCC minimum req.
     
    #202     Jan 3, 2007
  3. def

    def Sponsor

    No need to PM me. We've got a state of the art real time margining system. My understanding is that we'll offer portfolio margining to the extent the rules allow.
     
    #203     Jan 3, 2007
  4. Maverick74

    Maverick74

    I didn't say there was an SEC requirement Becket. When Fimat was beta testing the portfolio margin requirement, their 5 mil requirement was on their end, not the SEC's. Do you think any broker in the world is going to offer portfolio margin for under 500k. I'm sure in the next 5 years it will come down to 100k. But it's a moot point for 99% of ET now isn't it.
     
    #204     Jan 3, 2007
  5. Well, thay Jonathon... why did you thtate it was from $5mm to $500k? That sounds like IB will require $500k, which I know to be false.
     
    #205     Jan 3, 2007
  6. Maverick74

    Maverick74

    Like you said, it's broker discretion. I talked to IB last month and they said 500k. I asked Merril and they said 500k. I asked Fimat and they said 500k. Why don't you start a thread for Def to respond to and he can tell all of ET where they stand on this. I was told 500k for the first 12 months at least. Then they might drop it it to 100k.
     
    #206     Jan 3, 2007
  7. I hear you... feel free, buddy. It's no skin off my nose, $5k or $500k. I have no reason to manufacture anything. The guy I talked to is a pretty well connected at Timber and talks to Peterffy often.
     
    #207     Jan 3, 2007
  8. Maverick74

    Maverick74

    I posted a thread for Def to respond to under brokers. You can read his response there. I personally don't care either way. The more money the better. I'm not sure why you are so excited.
     
    #208     Jan 3, 2007
  9. def

    def Sponsor

    The info I have is that we have not fully decided if there will be a threshold or not. However, if there is one, it looks like it will be significantly lower than the 500K Maverick suggests.
     
    #209     Jan 7, 2007