Never cleared them, but was friendly with it's owner, Billy Goodwin, and Kim Swahlstedt, another principal of the firm, both of whom, traded calendar spreads in the bond pit. You couldn't find 2 nicer guys, anywhere.
If you get a chance to talk to either of them, tell them GAP says, Hi!
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DDT = Introducing Broker (1 man ops, pretty decent from what others say on the forum) for Crossland, LLC (A Clearing FCM & CME Member)
think of DDT similar to Optimus & Mirus.. Optimus intros for VFM and Mirus uses more than one FCM (Both Clearing if I may add.. Dormant and RCG)
ALL IB's markup their commissions.. that is how they make their money... in exchange for that fee, they service your account. Some are better than others. As I dont ever use them, I prefer to go straight to the Clearing FCM, in this case Crossland.
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my personal experience (well, I should say: Corporate, since my accounts are LLC owned.. )
I dealt with Edware Hague directly, and I had my account opened within 2 weeks. The accounts are owned by an LLC, so they had to do their due diligence, etc. the setup with TT took another week or so, I was able to get all the instruments and markets I wanted, without limitations. As customary with TT, risk parameters were determined upfront (max day loss, max no contracts, etc.); it is another safeguard for when you start overtrading or try to execute more contracts than you should which I very much welcome. I can trade Eurex, Liffe, Globex all under one single account. My comms are not on a sliding scale, they are flat... and they are less than DDT offers, and way less than Velocity, or worst case, Optimuz & Mirus.
my only complaint, I am spoiled by the CRM interface for Velocity and VFM... after having experienced those two, it is kind of a pain to use RanWeb; every time I see it I want to puke, but I get my statements emailed anyhow, so no big deal. It is not a complaint for Crossland, but for Rolfe & Nolan Systems to get with the times and update their platform which is used by hundreds of companies.
example: commissions with Crossland?
intraday margins ...? ...
other considerations about ?....
a name to contact for technical questions and open an account (i live in Europe)?
sorry if you take advantage of your kindness.
Thanks in advance.SEW
comms: less than $0.80 RT... I wont quote exact since it is based on volume and it will based on your volume. i started with $1.00 RT because i knew i could demonstrate the volume a month later.
margin: I chose $2500 per contract, yes weird, but it was left up to me... you can ask for $500, but I find it to be a double edge sword by someone loading with contracts on a small account.
other considerations: none
name: for technical contact, you basically call their desk.. as to the account opening, see below..
Senior Vice President
Professional Clearing Services
btw, your comms can be lower if your vol is over 1000 contracts per month by becoming a member, Ed can help on that as well and you will then cut the exchange fees; and dont worry, you are not taking advantage, I am glad to assist others, that is how we all learn and grow, by sharing and taking..
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