Discussion in 'Prop Firms' started by Dobbes, May 22, 2013.
What happened to them? Their website seems to no longer exist.
New firm now, new owners. Offshore.
Well damn... I know Vtrader used to have an office an Philly and I'll be moving there in another year. Seems like SIG are the only guys trading an account on PHLX. All the other members seem to be brokers.
Been trading long/short gamma positions for a while and I'd like to find a place with access to enough capital to actually do this full-time. when I move.
Addendum: White Bay still has an PHLX membership and a Philladelphia address. They have an office address on Market Street, do you know if anything is actually there?
Looks like there are a couple of other really small shops who don't have websites.
Everybody is moving offshore. in late 2011 / early 2012 I posted that this would happen as a result of the regulatory environment. Those who don't believe that's the case will still turn a blind eye. Ultimately, traders get the shit end of the stick because soon well have no choice but to go offshore for leverage where our money isn't even held in a US bank account.
Where do you guys come up with this 'move overseas' stuff?
For starters, they got fined $700,000 for breaking every rule in the bd rule book.
https://www.cboe.org/publish/disdecision/10-0032 and 11-0004.pdf
Then, they probably had no decent traders left, and maybe the new owner went to the BVI. But they had nothing left at that point. But to blame this on a regulatory environment and say that 'everybody is moving offshore' is totally ridiculous. This basically disintegrated is what it comes down to.
Mav, that website is built on a free web page maker--- not exactly confidence enhancing. Are you still with the firm?
Left the firm years ago. The backer is a billionaire located offshore. They are legit. They've allocated close to 500 million in capital. Completely different owners now.
The backer is Korean. I think he has ties to some big casinos in Macau. Don't quote me on that.
Separate names with a comma.