Discussion in 'Prop Firms' started by HighBid3, Oct 31, 2003.
Word on the street is that Sun Guard wants to drop thenAndover daytrading division.
assent traders make money unlike WORLDCO losers
I don't think that is new. Previous discussions here mentioned that Sungard's primary interest was the platform/technology and not the "personel". They are after all a tech company not in the clearing business.
The news came from Sun Guard. I rememeber when they bought Andover, we were all told to step up our volume. I guess we are not profitable as we looked. If they drop us we are screwed! That means commissions are going up for us. Believe me I can take my 250,000 shares a day and take them to another firm. I am glad worldco is gone but if Sun Guard drops the day trading division we also will be out of a job eventually.
They bought the clearing division for a reason...they are in the clearing business and will probably develop that side along with the technology side
Andover is big on the "recurring revenue model". That is essentially what clearing amounts to, so why would they get rid of that, becuase of shrinking margins? LOL. It was those guys that pressured the margins so much to begin with.
IMO there is little chance Sungard drops Andover/Assent, whatever it is called these days.
Highbid3 is obviously a shill probably with a competing firm.
You won't be out of job, because YOU DON'T HAVE A JOB! You are not their employee. As such, there is no job to lose.
You trade with them, even if Sungard dropped them (or worst case they went belly up) what's the big deal you take your deposit and 250k shares/day somewhere else where they will be kissing your a** to have you.
Believe me the last thing on my mind is losing my job at Andover. There are still a few places left on the street to go. I just wanted to be a nice guy and give a heads up to traders, because the WorldCo news was known in advance.
You would figure for such an high volume trader like HighBid3 is, he would have discovered elitetrader.com much sooner than a few days ago. But he did find the time to sign up and bash Andover. Thanks for the input. Although there is nothing true about your statements. Find a new hobby
What parts of Andover were sold to Sungard and what did they pay. Was the seller Michael Picozzi, or Picozzi and others?
Separate names with a comma.