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Trading directly with Goldman

What type of asset base would be required to trade and clear directly with Goldman Electronic Trading? Or any other large bank?

if they dont offer best execution then the answer is 0.

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There are many prop firms that use redi and can join for relatively nominal amounts ($5-100K). If you personally wanted to, I've heard it's in the neighborhood of $10MM but can't say for sure.

As far as other banks/PBs go, the range varies a lot and can be as little as $500K - depends on what you're doing also.



Edited 1 time(s). Last edit at Friday, June 24, 2011 at 08:32AM by LPoulin133.

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The firms that only have a couple hundred k though are going through a joint back office rather than Goldman directly correct? Which results in less favorable commission rates.

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ManMythLegend Wrote:
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> The firms that only have a couple hundred k though are going through a joint back office rather than Goldman directly correct? Which results in less favorable commission rates.

Joint back office (JBO) is simply a term used to denote an arrangement with a clearing firm that allows credit/leverage to be extended beyond Reg. T. There are many firms that are JBOs and deal with goldman directly and you can join them with a small up front capital contribution.

These points are all separate and aside from any discussion about commissions - that's way more dependent on what and how you trade rather than with whom. What are you trying to accomplish here (low commissions, access, platform, etc.)?

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Yes, low commissions and access.

I have about a mil that I want to trade with and sure as hell don't want to open an account with Interactive Brokers for that amount of money. I would rather go the professional route and just deal with the big guys. Better rates, better execution.

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