[Sep 19, 2010 7:02:03 PM EDT] WTC-Dave ok….well, to start, thanks once again for letting me chat with your group..it’s been awhile since I’ve chatted with your group and just wanted to update your members on some updates on my end

[Sep 19, 2010 7:02:41 PM EDT] WTC-Dave for starters,. we’ve added several new routing options including a really cool new PDQ route at $.20/1000

[Sep 19, 2010 7:03:23 PM EDT] WTC-Dave it’s a smart routing algo that essentially fills as many shares as possible internally on PDQ

[Sep 19, 2010 7:03:55 PM EDT] WTC-Dave and then kicks out any remaining shares to be filled in sequence from lowest routing expense to highest routing expense

[Sep 19, 2010 7:04:05 PM EDT] WTC-Dave we just got it and are testing this week

[Sep 19, 2010 7:04:30 PM EDT] WTC-Dave we’ve also added on some new FLOOR BROKER routes: Marquis, Murphy, RAVEN, Bloom, and working on Farina

[Sep 19, 2010 7:04:58 PM EDT] WTC-Dave these are direct floor brokers on the NYSE floor…with actual digital handhelds, not like going through ECNs

[Sep 19, 2010 7:05:11 PM EDT] WTC-Dave as a result, pricing fills tend to be better

[Sep 19, 2010 7:05:29 PM EDT] WTC-Dave so, for those looking to bid into stocks on a high volume basis, this is a great solution

[Sep 19, 2010 7:06:04 PM EDT] WTC-Dave additionally, we’ve got some new mid-point matching systems: ARCAMPL, ARCAMPLA, EDGXMPM, BATSPIP

[Sep 19, 2010 7:06:19 PM EDT] WTC-Dave these systems fill inside the Level II markets

[Sep 19, 2010 7:06:59 PM EDT] WTC-Dave for those of you not familiar with these routing options, most of them either provide more advanced rebate scenarios and let you take advantage of non-displayed liquidity

[Sep 19, 2010 7:07:04 PM EDT] WTC-Dave really crazy stuff

[Sep 19, 2010 7:07:48 PM EDT] WTC-Dave for example, let’s say you’re trading size in C, 5000 shares or so, you can bid in with the floor brokers, get a $1.00/1000 share rebate, and then sell at market at the mid-point using ARCAMPL

[Sep 19, 2010 7:08:34 PM EDT] WTC-Dave so, if Citi’s trading at 3.67 X 3.68, the midpoint will actually hit you at 3.675 when going market, allowing you to make $.005/share with minimal routing fees

[Sep 19, 2010 7:09:34 PM EDT] WTC-Dave on another note, we’ve initiated new MEMBERSHIP OPTIONS

[Sep 19, 2010 7:10:00 PM EDT] WTC-Dave previously, we were doing a $700/month unlimited deal…..

[Sep 19, 2010 7:10:12 PM EDT] WTC-Dave we’ve actually changed that a bit to the following:

[Sep 19, 2010 7:10:26 PM EDT] WTC-Dave 1-month membership = $799/month

[Sep 19, 2010 7:10:36 PM EDT] WTC-Dave 2-month membership = $699/month

[Sep 19, 2010 7:10:46 PM EDT] WTC-Dave 3-month membership = $599/month

[Sep 19, 2010 7:11:13 PM EDT] WTC-Dave + I’m doing a $100 off first month PROMO for anyone in this chat…just mention the CODE: NYC

[Sep 19, 2010 7:11:55 PM EDT] WTC-Dave for those of you not familiar with WTC’s system, we’re not a Prop shop or a BD and we don’t make any $$ from overrides or transaction fee mark-ups

[Sep 19, 2010 7:12:14 PM EDT] WTC-Dave members pay base cost pass-through fees from our clearing firm, ETC

[Sep 19, 2010 7:12:29 PM EDT] WTC-Dave which include the following: Clearing, SEC, TAF, NSCC

[Sep 19, 2010 7:13:07 PM EDT] WTC-Dave SEC, TAF, and NSCC are negligable….Clearing is currently about $.50/1000, but our volume’s increasing which is bringing down our overall group rate

[Sep 19, 2010 7:13:50 PM EDT] WTC-Dave so, for traders who do more that 150 to 200 tickets/month or 100k shares/month, flat membership trading is usually a good alternative

[Sep 19, 2010 7:14:03 PM EDT] WTC-Dave to straight Prop or broker trading

[Sep 19, 2010 7:14:39 PM EDT] WTC-Dave we’re primarily setup for sub $25k traders..those limited by the Pattern Daytrading Rules

[Sep 19, 2010 7:15:03 PM EDT] WTC-Dave iwith $5k membership, most members will receive $50k buying power for marginable intraday trading

[Sep 19, 2010 7:15:30 PM EDT] WTC-Dave non-marginable stocks (below $5 typically), are more limited, closer to 2X to 4X

[Sep 19, 2010 7:15:44 PM EDT] WTC-Dave overnights are allowed on a 1X, 2X basis

[Sep 19, 2010 7:16:04 PM EDT] WTC-Dave So, here are the quick selling points:

[Sep 19, 2010 7:16:18 PM EDT] WTC-Dave 100% payouts on accrued net profits

[Sep 19, 2010 7:16:23 PM EDT] WTC-Dave $50k BP

[Sep 19, 2010 7:16:32 PM EDT] WTC-Dave No capital lock-up periods

[Sep 19, 2010 7:16:49 PM EDT] WTC-Dave PropReports…very cool reporting system

[Sep 19, 2010 7:16:56 PM EDT] WTC-Dave 100% ECN rebates

[Sep 19, 2010 7:17:18 PM EDT] WTC-Dave Very good SHORT and HARD-to-Borrow lists with ETC

[Sep 19, 2010 7:17:36 PM EDT] WTC-Dave Tons of advanced routing options including FREE route, CITI book

[Sep 19, 2010 7:17:41 PM EDT] WTC-Dave for OTCBB/Pinks

[Sep 19, 2010 7:17:57 PM EDT] WTC-Dave Access to Dark Pools/Crossing Networks and Algos

[Sep 19, 2010 7:18:33 PM EDT] WTC-Dave some of the algos we have include: Credit Suisse XFINDER, UBSPASS, NITEFAN, NITECOVERT, STEALTH

[Sep 19, 2010 7:19:40 PM EDT] WTC-Dave for those of you interested in getting some additional information about our group, we’ve posted a new website at www.wtctradinggroup.com and a Investor’s Underground PROMO page at wtctradinggroup.com/?page_id=557

[Sep 19, 2010 7:20:19 PM EDT] WTC-Dave my name is Dave Babich, I’m the primary guy at WTC, have run it for 4+ years, and am more than happy to chat with interested traders about our services

[Sep 19, 2010 7:20:36 PM EDT] WTC-Dave i’ve also got my SKYPE links for chat and calling posted on the PROMO page

[Sep 19, 2010 7:20:50 PM EDT] InvestorsLive If any folks under $25k — even if u are over $25k and interesting in cheaper comissions if you trade a lot feel free to ask Dave any questions

[Sep 19, 2010 7:21:16 PM EDT] InvestorsLive WTC has a great comission schedule for those who are mostly 90%+ geared towards Nasdaq

[Sep 19, 2010 7:21:22 PM EDT] InvestorsLive I doubt you can beat it .. when you do out the math

[Sep 19, 2010 7:21:57 PM EDT] WTC-Dave certainly….not just about the buying power, for those of you who do a ton of tickets, this setup is ideal, NO ticket costs…which helps with scaling in.out

[Sep 19, 2010 7:22:13 PM EDT] BearNine dave do you plan on getting the DAS software?

[Sep 19, 2010 7:22:29 PM EDT] WTC-Dave and for lower priced stocks, where you might get hammered at $.005 or so, a flat membership is a really good setup

[Sep 19, 2010 7:22:43 PM EDT] hang dave, the page is password protected

[Sep 19, 2010 7:23:07 PM EDT] WTC-Dave i’m chatting with Nate about that…going to do a poll to get an idea of how many of you want that system..if there are 20+ interested, I would add DAS

[Sep 19, 2010 7:23:27 PM EDT] WTC-Dave hang..one sec, let me release that.thanks for the notification

[Sep 19, 2010 7:23:56 PM EDT] farmer What software do you have

[Sep 19, 2010 7:24:03 PM EDT] BearNine dave so you still borrow through penson, has there been any change in they way you borrow shares for shorts?

[Sep 19, 2010 7:24:19 PM EDT] WTC-Dave hang..try that link again

[Sep 19, 2010 7:24:23 PM EDT] WTC-Dave should be good to go

[Sep 19, 2010 7:24:29 PM EDT] WTC-Dave STERLING PRO

[Sep 19, 2010 7:24:47 PM EDT] hang good now

[Sep 19, 2010 7:24:56 PM EDT] WTC-Dave I’m either going to add LASER or DAS..ultimately based on feedback I get from Nate and a few other bloggers

[Sep 19, 2010 7:25:08 PM EDT] WTC-Dave not dealing with PENSON anymore

[Sep 19, 2010 7:25:20 PM EDT] WTC-Dave ETC is our clearing firm and they’re great!

[Sep 19, 2010 7:25:27 PM EDT] hang can you short OTC or PINK

[Sep 19, 2010 7:25:28 PM EDT] WTC-Dave we get a ton more with them than with Penson

[Sep 19, 2010 7:25:51 PM EDT] WTC-Dave yes on the OTC/Pink Question…always depends on the stock and the situation though

[Sep 19, 2010 7:26:07 PM EDT] WTC-Dave ETC also uses a service called STOCK LOCATE.com

[Sep 19, 2010 7:26:19 PM EDT] WTC-Dave which is basically a 3rd party locate services

[Sep 19, 2010 7:26:59 PM EDT] WTC-Dave so, if we don’t have it on the easy-to-borrow, and ETC can’t get it on Hard-to-borrow, Stocklocate.com would be the the last resport leder

[Sep 19, 2010 7:27:03 PM EDT] WTC-Dave lender

[Sep 19, 2010 7:27:15 PM EDT] WTC-Dave they’re expensive, but if you really want the short, they can get most

[Sep 19, 2010 7:27:41 PM EDT] WTC-Dave FYI..on the bottom of that promo page, we’ve posted a “Savings Chart”

[Sep 19, 2010 7:28:13 PM EDT] WTC-Dave take a look if you get a chance..really shows how much commissions will add up at other BDs/Prop Shops

[Sep 19, 2010 7:28:54 PM EDT] WTC-Dave also..when looking at ECNs..make sure the firm is offering cost on ECNs

[Sep 19, 2010 7:29:06 PM EDT] WTC-Dave alot of them mark-up routing options, even by small amounts

[Sep 19, 2010 7:30:43 PM EDT] WTC-Dave I’ll tie if off there, but please checkout out new site over coming weeks..we’re adding a ton of new content on the ECNs/Routing..things that should really help to figure out the best routing options for every type of trader

[Sep 19, 2010 7:31:22 PM EDT] WTC-Dave if there are no additionaly Qs, I’ll let you all get back to your chat..thanks again for the forum

[Sep 19, 2010 7:31:48 PM EDT] InvestorsLive anyyyyyyyyyybody?

[Sep 19, 2010 7:32:10 PM EDT] InvestorsLive Anyone there now have questions? Anyone under Sub $25k looking to get around the PDT rule?

[Sep 19, 2010 7:32:23 PM EDT] InvestorsLive Hit up Dave now if u have questions…

[Sep 19, 2010 7:32:25 PM EDT] synapze in which cases would one use the floor broker routes?

[Sep 19, 2010 7:32:34 PM EDT] WTC-Dave [email protected]

[Sep 19, 2010 7:32:34 PM EDT] synapze they give below bid fills?

[Sep 19, 2010 7:32:42 PM EDT] WTC-Dave SKYPE: TRADERDAVE73

[Sep 19, 2010 7:32:52 PM EDT] WTC-Dave below bid fills?

[Sep 19, 2010 7:33:05 PM EDT] WTC-Dave you can post using any routing option below the bid

[Sep 19, 2010 7:33:29 PM EDT] WTC-Dave but you’re unlikely to get filled on any routes below the inside bid unless you’re a retail buy-side firm

[Sep 19, 2010 7:34:01 PM EDT] synapze thx

[Sep 19, 2010 7:34:17 PM EDT] psr Dave, I am in Canada and am not subject to the PDT rule. I also trade with flat commissions…do you have other people join with similar circumstances because WTC is better/cheaper?

[Sep 19, 2010 7:34:38 PM EDT] WTC-Dave definitely…even for someone trading on flat per/ticket deals

[Sep 19, 2010 7:35:04 PM EDT] WTC-Dave for example, let’s say you’re on $4.95/ticket…..most active traders do atleast 10 tickets/day = 200 tickets/month

[Sep 19, 2010 7:35:18 PM EDT] WTC-Dave at $4.95/ticket, you’re looking at $2k in commissions

[Sep 19, 2010 7:35:32 PM EDT] WTC-Dave not to mention getting hacked on ECN rebates or removal fees

[Sep 19, 2010 7:35:50 PM EDT] WTC-Dave flat ticket commissions also make scaling it/out much tougher

[Sep 19, 2010 7:36:32 PM EDT] WTC-Dave we have plenty of traders who don’t really need the additional BP, who just want to benefit from group trading

[Sep 19, 2010 7:36:53 PM EDT] WTC-Dave always going to get better deals as a group, plus, ETC only deals with clients at $250k ^

[Sep 19, 2010 7:37:26 PM EDT] psr i c. I’ll be taking a look into this for comparison with my current setup.

[Sep 19, 2010 7:37:26 PM EDT] WTC-Dave they are exclusively a high-end institutional clearing firm..fewer clients, higher priority..better deals and more routing options

[Sep 19, 2010 7:38:01 PM EDT] WTC-Dave sounds good..feel free to email me your current deal, I’d be happy to throw together a comparison based on your trade data

[Sep 19, 2010 7:38:19 PM EDT] WTC-Dave not always a good fit, but in more cases than not, it makes sense

[Sep 19, 2010 7:39:20 PM EDT] immersion dave, what is the normal cost of membership

[Sep 19, 2010 7:40:01 PM EDT] InvestorsLive (Sep 19-19:11) WTC-Dave: 1-month membership = $799/month (Sep 19-19:11) WTC-Dave: 2-month membership = $699/month (Sep 19-19:11) WTC-Dave: 3-month membership = $599/month

[Sep 19, 2010 7:40:15 PM EDT] InvestorsLive if you’re late to the chat – I will be posting the chat logs late ron

[Sep 19, 2010 7:40:18 PM EDT] InvestorsLive later on*

[Sep 19, 2010 7:40:46 PM EDT] WTC-Dave have a good evening everyone…and good luck in the markets this week!