MAC Commissions

[jondoe]

Has anyone heard the rumour about MAC/REFCO cutting their commissions to be the cheapest in the City? I have heard this from half a dozen traders now but nothing seems to have been published.

 

[TWI]

Check out:

www.thetradersclearingalliance.com

Gonna shake things up quite a lot. This is why others will have to cut their costs.

 

[HCAS]

jdoe- i have heard they are slashing by 25%

Twalker- do you think MAc is behind this new setup- afterall , their offices claim to be in Bishopgate... coincidence?

 

[TWI]

No, they are definitely not.

 

[TWI]

MAC costs are a response to all the b/s with TT which has lead to self funded traders looking to leave and this new venture which goes live beginnign July.

 

[zeeuk]

Check out:

www.thetradersclearingalliance.com

Gonna shake things up quite a lot. This is why others will have to cut their costs.

Hey twalker,

How did you come to know of this place? Any background info on who, when, where? A worthy cause this one!

Cheers!

 

[jondoe]

It looks like my sources were correct MAC have cut their rates in half, i have just heard the news from a trader over at the MAC office.

 

[TWI]

zeeuk - I heard of it cos I was told by somebody and then found out the guy running it is somebody I know.

MAC have made an announcement today really slashing costs.

 

[Polo]

You should check out Mint www.mint-ed.com they have a stunning room and very low rates as well as some excellent pricing options.

 

[TWI]

Polo,
Agree with you about the room. That is one great view of the city. But I didn't think MINT offered desk space for self funded traders. It is an equities broking/prop group that sit up there at 80 cannon street their derivatives lot are down the road.

 

[Polo]

I take it you have seen the room as well, fantastic views. Mint do support futures traders from 80 Cannon Street and have just taken in a large group of self funded traders. As I said they have some really interesting packages available for clearing or a fixed low rate.

 

[TWI]

Well they are not there yet, spoke to sombody I know there this morning. I am surprised I did not hear about that if it is happening.

 

[Polo]

The group have not started trading yet. What do you think of the packages on offer up there? Are you on the futures or equities side of the business?

 

[HCAS]

do they take on traders who require backing? also, is there a picture of the dealing room?

 

[Polo]

I believe so check out the web site for contact details

 

[Mint Futures]

I know there is a group within Mint that are keen to back traders.........
I've also been up to their office, pretty cool.

 

[jondoe]

How do they comapre with MAC on commissions, desk fee etc

 

[Polo]

I have not seen Macs rate card but they are in line with the trading alliance, I think desk fees are similar throughout the city. The other offer they have is related to profits where you pay out when you win and are not charged when you do not but it is to hard to explain so best speak to them yourself.

 

[Mint Futures]

It's all very well being the cheapest at the moment, but they make you use their own front end......... So you have to look to the future. If you want to continue using TT which most people do. You better of going to a smaller shop where you will get looked after.

 

[jondoe]

Chief,

How do you know so much about the goings on at MAC are you just scare mungering to get traders to join your firm? I have just joined MAC and was offered the choice of 4 different front ends. I am saving an absolute fortune on roundies and they have looked after me much more than my last firm, maybe its because I am new I dont know but time will tell.