Is there anyone who works in Schonfeld that pays less than the penny per share commissions ? To me it seems like waaaaaay too much it really sinks into my net profits. I've been told everyone at Schonfeld gets the same deal. Is there anyone who gets any different ?
Yes - there are traders at Shony who trade Gross. There are different deals. Look in the Brokers section.
traders at schonfeld receive somewhere between 55-70% of their net or 20% of their gross. As I understand it they all get charged the same commissions when it comes to their net. Please someone tell me if this isnt true.
There are sub LLC's of Schonfeld, a group I know of pays around .006 per share. I beleive the current payout at Schonfeld is 20% gross with 8 % deferred. BMW
I also saw on another thread here that only a small, select group of traders get to use bullets at shonys. Sounds kinda strange that they would do this. Is this true?
true cost is ZERO. the clearing firm sets the base commission rate, and the brokerage that one goes through sets the markup from that base.