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Phillip Capital's Laura Chia (Head of Client Services) - Ask Me Anything (AMA)
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Phillip Capital's Laura Chia (Head of Client Services) - Ask Me Anything (AMA)

  #11 (permalink)
 Vendor: www.phillipcapital.com 
Chicago IL
 
Futures Experience: None
Platform: All platforms
Broker/Data: Phillip Capital
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IS prop trading an issue?


sujiroy View Post
The session was very informative, Thanks a ton for arranging it Mike.

Is prop trading such a big issue? Wouldn't most companies be engaging in some kind of prop trading?

Hi this is a great question. I am Lynette and I will answer this question. Why is prop trading an issue?

Prop trading itself is not an issue, but it could potentially lead to conflicts of interests when firms have both prop trading as well as brokerage business i.e. serving customer business itself. The goals of prop trading vs the goals of serving customers are different; for prop trading, you make money from trading the firms money/capital and for brokerage business, you make money from servicing your customers.

Thereís fear from some investors/regulators when companies engage in both customer business and prop trading as thereís a possibility that some companies may not manage their risks or conflicts of interest well, which in turn, may lead to all sorts of trouble like front-running (making the trade ahead of the client in order to profit ); use the trading information of the client, in some form, to trade ; or (in a small number of cases) take big bets against the market with company's capital at the expense of protecting the best interests of their customers. One has to one has to understand those risks & conflicts in order to manage it well.

RISK DISCLAIMER: Trading in futures products entails significant risks of loss which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies cited herein is not necessarily indicative of future performance. The information contained herein is provided to you for information only and believed to be drawn from reliable sources but cannot be guaranteed; Phillip Capital Inc. assumes no responsibility for errors or omissions. The views and opinions expressed in this letter are those of the author and do not reflect the views of Phillip Capital Inc. or its staff.
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  #12 (permalink)
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Doubts on Phillip Capital after presentation

I have an account with Phillip Capital through NinjaTrader Brokerage. I don't have a specific question, but I must say, half way through watching Lynette Lim's presentation, I'm having some doubts.
https://www.youtube.com/watch?v=7joBVHy8XKU

I don't mean to come across offensive and I'm sure Ms. Lim, being the Co-CEO of the firm, must have earned her place. But to be blunt, if the presentation is meant to convey confidence in Phillip Capital, it's doing the opposite. Ms. Lim seems very unprepared, like she's giving her company credentials for the first time in her life. Skip to 9 min into the presentation and listen for 2 minutes to get an idea.

I would like to ask members on the forum who have been long enough with Phillip Capital, what are your thoughts on day to day operation, technical/admin support/ margin calls, the handling of deposit/withdrawl, etc. Or just any specifics that you would be able to share regarding.

I'm on a "trial" basis with Phillip Capital/ Ninjatrader brokerage on a small account for 3 months, I'm looking for feedback from others to help me decide whether I should move to another brokerage. Quickly off the top of my head, my complaint is that there's no real-time figures displaying my margin requirement, PnL, etc. I'm told that this is due to the fact that I'm getting data from Ninja Continuum but I don't follow the logic. Apart from that, I would say that there hasn't been enough usage to warrant for a thorough and meaningful review.

The presentation has cast doubt in my mind, if the co-CEO's presentation on her own company is this awful, is this giving a glimpse into the company. The part that really kill it for me is at 22m50s, the figures on the slide don't add up-
Adjusted net capital= 38M
Net capital requirement = 15M
excess capital is =18M ??

Thanks in advance.

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  #13 (permalink)
 Vendor: www.orderflowdashpro.com 
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@luigi On (1) I would not read too much into that. It is much more difficult to give a live presentation then it looks and we see mostly professionals giving presentations. On point (2) notice the use of the ~ character which means approximately. Let's look at the numbers 38-15=23. They report the excess as appx 18m. However, notice the total funds is 301. The difference in 23 and 18 is 5 million or only 1.7% of customer funds. The difference is probably because they are pulling from different reporting systems. The excess probably needs to take into account the volatility of the invested funds and allow for in/out flow as well.

The most sensible way to read this is that they really need around 20 million to be on the safe side to cover the net requirement and they have 18 free or appx 90% more then needed.

Update: Slide at 22:02 shows the exact numbers and where you can get them. Here a link to the most recent:
http://www.cftc.gov/MarketReports/financialfcmdata/index.htm
http://www.cftc.gov/idc/groups/public/@financialdataforfcms/documents/file/fcmdata0717.pdf


Last edited by tpredictor; September 30th, 2017 at 12:37 AM.
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  #14 (permalink)
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hi there @Phillip Capital went to yr website....where you list 30 Global Exchanges. Can all of these we traded from US.?
If so can these be accessed via platforms such as Ninja or Tradestation? Dont mind routing orders thru whatever broker...but platforms need to be Ninja or Tradesation with DMA and Data feeds on these platforms. Pls advice.

thnx n cheers

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  #15 (permalink)
 Vendor: www.phillipcapital.com 
Chicago IL
 
Futures Experience: None
Platform: All platforms
Broker/Data: Phillip Capital
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paps View Post
hi there @Phillip Capital went to yr website....where you list 30 Global Exchanges. Can all of these we traded from US.?
If so can these be accessed via platforms such as Ninja or Tradestation? Dont mind routing orders thru whatever broker...but platforms need to be Ninja or Tradesation with DMA and Data feeds on these platforms. Pls advice.

thnx n cheers

@paps Not all 30 exchanges are available to US customers, for example, there are restrictions for Indian exchanges. Some foreign products are not available to US customers due to US regulations. The CFTC has a list of foreign products that are available to US customers.

If you go to our platform page and scroll to the Exchange Availability section, you can see the compatible platforms for each exchange. You can access any of these exchanges/platforms if you open directly with us.

We are one of NinjaTraderís FCMs, but youíll want to reach out to NinjaTrader Brokerage for the complete list of foreign exchanges you can trade using their platform. They do not necessarily offer all the exchanges that we offer for certain reasons, but they would be better able to speak to that, or you can also ask them about the possibility of adding any markets they donít offer. Tradestation is not one of the platforms we offer.

Please let me know if there is anything else I can help you with.

Thanks,
Laura

RISK DISCLAIMER: Trading in futures products entails significant risks of loss which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies cited herein is not necessarily indicative of future performance. The information contained herein is provided to you for information only and believed to be drawn from reliable sources but cannot be guaranteed; Phillip Capital Inc. assumes no responsibility for errors or omissions. The views and opinions expressed in this letter are those of the author and do not reflect the views of Phillip Capital Inc. or its staff.
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