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Strategies & Market Trends : SOES Trading
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To: Mark Davis who wrote (1041)11/10/1997 5:49:00 PM
From: Chris Block  Read Replies (2) of 1618
 
Mark Davis, Mark Mallen: How much should the SOES rooms charge? What type of profit margin do we deserve? I know it seems like heads or tail we win but look at the business at hand. Those computers in the SOES rooms are not 486's and they are not donated. We are taking risk by betting if customers will trade. Customers will only trade if they are making money. I hope you don't believe that this is a "scheme" and all those customers currently trading are being duped. Give some credit to your fellow traders. Block Trading is trying to compete in the discount brokerage area by doing agency trades. We don't sell order flow, we don't make markets, and we don't manage money. The only way for us to do this profitably is by getting the most out of economies of scale. We need to do as many trades as possible, in order to keep the cost down for everyone. You should thank those high ticket traders, they're the reason you can trade as cheaply as you do. Also there is that small risk of regulators running us out of business. Do you honestly believe that you would have the transparancies and the tight spreads on the NASDAQ if the greedy SOES shops were not out fighting daily to keep soes around.

I do however agree, the easy money has been made. That is what makes me believe that the business will be around for quite some time. If you are wanting to make easy money go to Vegas. If that doesn't work Block will probably have an office there shortly for you to come back to America.
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