interested in trading from office

[spin2win]

hi
is anyone interested in potentially trading fromthere own backed funds from an office in london?
im in the process i renting 1800sqft of floor space for traders who back themselves.
you can therefore trade any product you like, any times you like and will only be charged a fee to cover office space and electric etc
anyone interested???????

 

[tomorton]

Oh alright, I'll be the one to ask.

Apart from floor space, what are you offering the trader?

 

[gooseman]

what about exchange access, IT, clearing, support? have you actually thought about any of these things?

 

[spin2win]

hi
you would get:-
office space
desk
pc
connections etc
deep discounted bro due to volume we would put through
telephone
sky
email internet etc
you would beable to choose youreself all the trading infrastructure you need such as tt, easyscreen cqg bloomberg etc etc
i will be creating an environment

 

[gooseman]

and what about clearing and IT?

what amount of vol? you have how many people so far?

exchange connections and fees?

 

[rathcoole_exile]

gooseman, i think Spin's made it clear that people who pay for desk space will be trading their own money, so why should he get involved in clearing issues ?

I agree with the IT bit though Spin - if you're going to set up a plug'n'play environment for traders, you'll need to have 24 IT support on hand, not on call.
That's going to eat into your bottom line .......

 

[gooseman]

who's going to clear the trades then?

 

[rathcoole_exile]

who's going to clear the trades then?

my understanding was that people will have their own accounts with whomever.

All they are paying for is a desk within a community of like-minded individuals, with fast internet access, bloomberg piped in, IT support, secretarial services if required, business address etc.
Just an alternative to trading from home.

at least, that's the way I've set things up in bangkok, maybe Spin is doing something other than that, but I don't get that sense from his post.
so where does the Clearing come into it? although perhaps you're right 'cos he does mention volume discount, so maybe he's channelling everyone through a particular DMA, broker, whatever .....

 

[gooseman]

it depends if he is opening it up to guys with DMA accounts or provide an umbrella clearer for everyone. I have worked in one of these before and that was how we did it.

if you trade on an exchange you need a clearer to basically back your trades and manage your account. if he is doing this then there will be capital requiements etc...

assuming he is talking about vol discounts then he must be going centrally to get the rebates off the exchange.

maybe this has changed since i was a local but this was how we worked.

trading has a huge infrastructure that guys who trade DMA (through IB etc) and SB'ers forget about.

 

[spin2win]

my understanding was that people will have their own accounts with whomever.

All they are paying for is a desk within a community of like-minded individuals, with fast internet access, bloomberg piped in, IT support, secretarial services if required, business address etc.
Just an alternative to trading from home.

at least, that's the way I've set things up in bangkok, maybe Spin is doing something other than that, but I don't get that sense from his post.
so where does the Clearing come into it? although perhaps you're right 'cos he does mention volume discount, so maybe he's channelling everyone through a particular DMA, broker, whatever .....

YOU are 100% right im creating an environment, clearing, exchange fees etc etc is not a problem it is plug and play as you say...... i got good links with clearers /brokers but in essence you pays your money you enjoy the ride....
if you want to trade through gni cool or if you want to trade through fortis no worries, you want to trade the dax and also carbon emmissions not an issue....
it will be on tap 24/7 along with drinks machines, etc.. it will be a fully serviced trading floor for entrapaneurs to trade from rather than trading from home alone,

 

[gooseman]

so you're talking about individual traders trading their personal accounts with XYZ Ltd then, yes?

 

[spin2win]

so you're talking about individual traders trading their personal accounts with XYZ Ltd then, yes?

yes your money your risk your reward im offering the infrastructure and environment, we will not back people that is not our game

 

[rathcoole_exile]

well that's my slant on it.

that's how we're working it here

 

[gooseman]

yes your money your risk your reward im offering the infrastructure and environment, we will not back people that is not our game

i wasn't meaning backing-i was going more down the lines of you provide DMA and clearing etc for traders who back themselves. i.e individuals trading on the exchange as opposed to through a 'broker'

 

[spin2win]

i wasn't meaning backing-i was going more down the lines of you provide DMA and clearing etc for traders who back themselves. i.e individuals trading on the exchange as opposed to through a 'broker'

we can get direct access or get deals secured with brokers to be min fees such as 0.30 euro cents a half turn plus exchnage and clearing house fees etc
as i say our aim is to get the environment, we have contacts and can help with all aspects but as you can imagine i can pool money together but if one trader goes pop then we have an issue i provide the space and support and you keep your money safe for yourself to play with and not others to leverage off!

 

[Parky]

So no local servers then, what we are talkignabout is VPN or traders putting in their own direct lines to clearers they have or want a relationship with.

 

[rathcoole_exile]

Spin,
one thing to take into consideration if you haven't already done so - one of the biggest costs against the bottom line here in running a 24 hour operation is the out-of-hours AirCon charges (I guess you'd have Heating issues in UK, not Cooling )
Maybe you already have 24 hour temperature control services, but here every office I have ever come across only runs the AC between 0800 and 1800 so any extra time is at my cost, and it's bloody expensive !
just might be worth your while checking the small print .........

Garry

 

[grantx]

RC,

“people will have their own accounts with whomever.” Unless you can open an account direct with a clearer, may be problematic. Fortis, for example, require £75,000 minimum. Therefore, unless you have level of capital you’ll need to go through a broker and use compatible software/systems, and you have no choice but to conform. For example, your order entry system has to be identical for compliance reasons, ie oversight and control. So you may still have to fork out for TT, for eg, and possibly a VPN.

If a single clearer isn’t being used for all the office, then the volume discounts may be lower (as gooseman alluded to).

In other words, why not trade from their office?

Is your baby selling 8 or 10 (not clear)?

Grant.

 

[rathcoole_exile]

RC,

“people will have their own accounts with whomever.” Unless you can open an account direct with a clearer, may be problematic. Fortis, for example, require £75,000 minimum. Therefore, unless you have level of capital you’ll need to go through a broker and use compatible software/systems, and you have no choice but to conform. For example, your order entry system has to be identical for compliance reasons, ie oversight and control. So you may still have to fork out for TT, for eg, and possibly a VPN.

If a single clearer isn’t being used for all the office, then the volume discounts may be lower (as gooseman alluded to).

In other words, why not trade from their office?

Is your baby selling 8 or 10 (not clear)?

Grant.

how dare you !?! How dare you ?!? that's not my baby, that's ME !!


8.....

 

[rathcoole_exile]

RC,

“people will have their own accounts with whomever.” Unless you can open an account direct with a clearer, may be problematic. Fortis, for example, require £75,000 minimum. Therefore, unless you have level of capital you’ll need to go through a broker and use compatible software/systems, and you have no choice but to conform. QUOTE]

Grantster, my understanding, and i am happy to be corrected, was that Spinster wil provide the desk, chair and the PC. All leccy bills, bloomberg, naked dancing girls etc.
Then you continue to trade your own existing account with your own broker.

But not sure how that squares with Spin's mention of volume discounts.

maybe i'm just fick. Can the Spinster clarify ?