smisachu
01-21 10:20 PM
smisachu,
Thanks for that Info, here is my requirement
I am on H1B and plan to have my own company as a trader to trade stocks.
I will be the owner and wish to draw profits, may not have employee in my company for now(please advice, if i need to)
I need inputs to know what type of company should that be (LLC, S Corporation.. e.t.c.)?
Is it advisable to have a GC holder/citizen as partner?
What form of income should i withdraw(salary/profits/dividends/Interest..) How is the income considered when i file my taxes?
I am not aware of anyone who can sponsor my H1 as a trader atleast for now, if i get the right opportunity, i am open for that
Thanks again
1. If you want to trade stocks only, with your own capital ,then set up a LLC or C corp. If you trade other people�s capital then maybe become a RIA.
2. If you form a llc you become a employee of your own company (say managing director, CIO etc) and sponsor your own H1.
3. You can have a fixed salary and a draw, which is what a typical trader gets. Draw is a percentage of the profits you generate by trading.
4. You don�t need a gc/Citizen as a partner.
5. The company/fund makes money by trading securities and the earnings are retained by the company, you draw salary and bonus.
6. You file taxes as a regular employee would.
7. You might be able to get H1 from a day trading firm, a day trading firm is not a market maker. They trade company capital and typically you have to post some risk capital based on which they will provide you leverage and provide you with equipment etc. You don�t get a salary, just a draw.
But let me ask you something; I am not aware of your expertise in the markets so forgive me if I sound patronizing.
1. Do you have a seven figure capital pool? You will need at least 1MM if you want to make a living trading.
2. Are you aware of the equipment and ECN and direct access software needed assuming you are technical trader.
3. Do you have a prime broker who is going to provide you leverage and settlement? If you have not decided consider Interactive Brokers.
4. What kind of risk management software will you be using?
If you are in the NY/Nj area I suggest try day trading at a firm posting risk capital (typically 10K) then decide if you want to do this full time. It will also help sharpen your skills. If you want I can recommend a few. They will not sponsor H1 though, you will have to have some consultant do that for you.
Thanks for that Info, here is my requirement
I am on H1B and plan to have my own company as a trader to trade stocks.
I will be the owner and wish to draw profits, may not have employee in my company for now(please advice, if i need to)
I need inputs to know what type of company should that be (LLC, S Corporation.. e.t.c.)?
Is it advisable to have a GC holder/citizen as partner?
What form of income should i withdraw(salary/profits/dividends/Interest..) How is the income considered when i file my taxes?
I am not aware of anyone who can sponsor my H1 as a trader atleast for now, if i get the right opportunity, i am open for that
Thanks again
1. If you want to trade stocks only, with your own capital ,then set up a LLC or C corp. If you trade other people�s capital then maybe become a RIA.
2. If you form a llc you become a employee of your own company (say managing director, CIO etc) and sponsor your own H1.
3. You can have a fixed salary and a draw, which is what a typical trader gets. Draw is a percentage of the profits you generate by trading.
4. You don�t need a gc/Citizen as a partner.
5. The company/fund makes money by trading securities and the earnings are retained by the company, you draw salary and bonus.
6. You file taxes as a regular employee would.
7. You might be able to get H1 from a day trading firm, a day trading firm is not a market maker. They trade company capital and typically you have to post some risk capital based on which they will provide you leverage and provide you with equipment etc. You don�t get a salary, just a draw.
But let me ask you something; I am not aware of your expertise in the markets so forgive me if I sound patronizing.
1. Do you have a seven figure capital pool? You will need at least 1MM if you want to make a living trading.
2. Are you aware of the equipment and ECN and direct access software needed assuming you are technical trader.
3. Do you have a prime broker who is going to provide you leverage and settlement? If you have not decided consider Interactive Brokers.
4. What kind of risk management software will you be using?
If you are in the NY/Nj area I suggest try day trading at a firm posting risk capital (typically 10K) then decide if you want to do this full time. It will also help sharpen your skills. If you want I can recommend a few. They will not sponsor H1 though, you will have to have some consultant do that for you.
wallpaper Rossi to test GP12 MotoGP bike
nishant2200
12-22 03:09 PM
Dear President-elect and transition team,
I am really excited by the change and new hope your administration is promising.
My story is of a bright engineering student from India, who came to USA to study a graduate degree from one of the top engineering schools in USA. I graduated with a 3.6 GPA with a Masters degree In Computer Engineering and Electrical Engineering from top 10 engineering school, University of Southern California in 2004.
I immediately joined a company, working in the Health care industry and providing software for many of the most large and research labs in the country, providing patient care to all parts of the country.
We applied for a Permanent Residence visa in the Employment Based Second (EB2) category. I have not missed a single paycheck since nearly 4 years, paid all my taxes in February 2nd week latest each year. I have studied in a premier school of USA and contributed to research and studies for nearly 3 and half years there.
There is a huge backlog of visas in the employment based categories. The backlog is in hundreds of thousands. There is a limitation of 120,000 visas each year, with a limitation of around 8400 visas for countries. This means countries like India and China which contribute the most to legal employment based immigration look at a wait of 6 to 10 years. In this time, we cannot take career decisions, are afraid to buy houses, are afraid to invest in 401k and retirement schemes, all life decisions come to a halt.
During the past years, a lot of visa numbers were left uncaptured because of processing delays. Also, family numbers count for single visa numbers. And there is a per country numerical limitation which is unfair to countries like India or China. There is no consideration for applicants with graduate and PhD degrees in Science, Engineering or Math.
Generally the illegal immigration gets all the focus, with us, legal immigrants, not even getting a mention. H1 visa category is chastised and in bad press, but we are all but a very few number of intending immigrants, who instead of taking jobs, are contributing to economy, legally residing and want to be a part of the great country. Many bills HR 5882, HR 5921 & HR 6039 are already in government waiting for action.
Please help the legally employment based immigration group.
Thanks,
A law abiding, tax paying, hopeful.
I am really excited by the change and new hope your administration is promising.
My story is of a bright engineering student from India, who came to USA to study a graduate degree from one of the top engineering schools in USA. I graduated with a 3.6 GPA with a Masters degree In Computer Engineering and Electrical Engineering from top 10 engineering school, University of Southern California in 2004.
I immediately joined a company, working in the Health care industry and providing software for many of the most large and research labs in the country, providing patient care to all parts of the country.
We applied for a Permanent Residence visa in the Employment Based Second (EB2) category. I have not missed a single paycheck since nearly 4 years, paid all my taxes in February 2nd week latest each year. I have studied in a premier school of USA and contributed to research and studies for nearly 3 and half years there.
There is a huge backlog of visas in the employment based categories. The backlog is in hundreds of thousands. There is a limitation of 120,000 visas each year, with a limitation of around 8400 visas for countries. This means countries like India and China which contribute the most to legal employment based immigration look at a wait of 6 to 10 years. In this time, we cannot take career decisions, are afraid to buy houses, are afraid to invest in 401k and retirement schemes, all life decisions come to a halt.
During the past years, a lot of visa numbers were left uncaptured because of processing delays. Also, family numbers count for single visa numbers. And there is a per country numerical limitation which is unfair to countries like India or China. There is no consideration for applicants with graduate and PhD degrees in Science, Engineering or Math.
Generally the illegal immigration gets all the focus, with us, legal immigrants, not even getting a mention. H1 visa category is chastised and in bad press, but we are all but a very few number of intending immigrants, who instead of taking jobs, are contributing to economy, legally residing and want to be a part of the great country. Many bills HR 5882, HR 5921 & HR 6039 are already in government waiting for action.
Please help the legally employment based immigration group.
Thanks,
A law abiding, tax paying, hopeful.
a1b2c3
04-30 02:26 PM
thanks a lot for the nice info. appreciate all the pointers. I know its all miles away but if it were not for some issues I am dealing with I would not have taken active interest in this.
http://www.dhs.gov/xlibrary/assets/statistics/publications/natz_fr_2008.pdf amazes me.record #s from mexico? nearly 232k vs 62k from india in 2008.
http://www.dhs.gov/xlibrary/assets/statistics/publications/natz_fr_2008.pdf amazes me.record #s from mexico? nearly 232k vs 62k from india in 2008.
2011 dresses MotoGP bike for 2011. ducati 2011 motogp bike.
485Mbe4001
09-14 04:47 PM
its a short sighted approach, you will just move from one level of pain to another one...once you realize that you are stuck with no change in job 'status' for 10 odd years you will realize that AC21 is not all that great...ihmo..i agree with you on the SKILL bill
I agree with you guys...especially even if they permit 485 filing pending the priority date...it will help a whole lot of people get out of their employer's tyrannical grip and lead a free life.....:) ...I only hope the SKIL bill gets passed in some way sooner.....
I agree with you guys...especially even if they permit 485 filing pending the priority date...it will help a whole lot of people get out of their employer's tyrannical grip and lead a free life.....:) ...I only hope the SKIL bill gets passed in some way sooner.....
more...
franklin
07-11 02:13 AM
I have forwarded this within my company and also have made arrangements to send it to Cisco.
i hope we make this a silent no-slogan protest.
banners will convey our point.
Perfect, thank you.
i hope we make this a silent no-slogan protest.
banners will convey our point.
Perfect, thank you.
baleraosreedhar
11-04 11:47 AM
Done
more...
rck4evr
01-31 11:07 AM
Done and forwarded to all my friends.
2010 Ducati launch 2011 MotoGP
singhsa3
05-23 02:41 PM
Same thing for HR 5921
For HR 5882, From 2 to...
COSPONSORS(13), ALPHABETICAL
Rep Abercrombie, Neil [HI-1] - 5/13/2008 Rep Capuano, Michael E. [MA-8] - 5/13/2008
Rep Carter, John R. [TX-31] - 5/13/2008 Rep Cuellar, Henry [TX-28] - 5/15/2008
Rep Davis, Tom [VA-11] - 4/24/2008 Rep Gilchrest, Wayne T. [MD-1] - 5/13/2008
Rep Honda, Michael M. [CA-15] - 5/13/2008 Rep Jackson-Lee, Sheila [TX-18] - 5/13/2008
Rep Nadler, Jerrold [NY-8] - 5/22/2008 Rep Roybal-Allard, Lucille [CA-34] - 5/22/2008
Rep Sensenbrenner, F. James, Jr. [WI-5] - 4/23/2008 Rep Shadegg, John B. [AZ-3] - 5/13/2008
Rep Speier, Jackie [CA-12] - 5/22/2008
For HR 5882, From 2 to...
COSPONSORS(13), ALPHABETICAL
Rep Abercrombie, Neil [HI-1] - 5/13/2008 Rep Capuano, Michael E. [MA-8] - 5/13/2008
Rep Carter, John R. [TX-31] - 5/13/2008 Rep Cuellar, Henry [TX-28] - 5/15/2008
Rep Davis, Tom [VA-11] - 4/24/2008 Rep Gilchrest, Wayne T. [MD-1] - 5/13/2008
Rep Honda, Michael M. [CA-15] - 5/13/2008 Rep Jackson-Lee, Sheila [TX-18] - 5/13/2008
Rep Nadler, Jerrold [NY-8] - 5/22/2008 Rep Roybal-Allard, Lucille [CA-34] - 5/22/2008
Rep Sensenbrenner, F. James, Jr. [WI-5] - 4/23/2008 Rep Shadegg, John B. [AZ-3] - 5/13/2008
Rep Speier, Jackie [CA-12] - 5/22/2008
more...
raj2007
06-15 01:00 AM
This is how it works. If you file for your 485 now, the next thing that is expected from you is to wait for the receipt, that would take 3 to 4 weeks. Then you will get finger print notice, that might come in three months time. Once you are done with all this then check the processing date of the respective service centre where you have filed your 485 application.
Now coming to the question of unmarried filers, if the principal aplicant's date of marriage is beofe his or her 485 adjudication of adjustment of status, there are two ways principal applicant file for 485 for his or her spouse. The spouse can travel to US on H4 and file for 485 or the principal applicant can do consular processing. Now consular processing is good for those cases whosw w PD is current but since retrogression can kick in anytime it is better to travel to US on H4 and file for 485.
Another important aspect is if you file 485, EAD, Advance Parole and you use EAD, you loose your H1 status, hence on EAD you can not bring in your wife. So unmarried filersn it goes like thisn you go ahead and fileyour 485, then go to your home country brng in your wife on H4n as you have aleast s months of time if NSC, TSC or CSC 485 processing is not current and it is hown 1 month for receipt of 485, three months of time for getting the finger print notice and you can postpone by another month of FP by rescheduling it to another month. So literally you have 4 to 5 months to get married and by that time the dates will retrogress again. So dont worry, just go ahead file your 485 and start looking to get married. But try to bring in your spouse asap so that you can file for your spouses 485 also till the time PD is current. If you are not able to file for 485 for your spouse and you have filed for yourself and whenthe dates retrogresses again when your spouse comed to US you would not be able to use EAD as using EAD nullifies H1 and H4 status. So desi consulting companies will keep on sucking your blood as you cannot change job using EAD. If you need more info on this let me know I have gone through this and waited for almost three years to file for my spouse I resheduled my FP notice in 2004 to get married by the time my wife came retrogression kicked in and waited till June 2007 to file for my wife. My PD june 2002 still waiting
This is 100% incorrect that you lose your H1 when you get your EAD. You can maintain both the status and use H1 for your employement. You can maintain the h1 unless you use AC21 to change job. Check with your attroney for your scenario.
Now coming to the question of unmarried filers, if the principal aplicant's date of marriage is beofe his or her 485 adjudication of adjustment of status, there are two ways principal applicant file for 485 for his or her spouse. The spouse can travel to US on H4 and file for 485 or the principal applicant can do consular processing. Now consular processing is good for those cases whosw w PD is current but since retrogression can kick in anytime it is better to travel to US on H4 and file for 485.
Another important aspect is if you file 485, EAD, Advance Parole and you use EAD, you loose your H1 status, hence on EAD you can not bring in your wife. So unmarried filersn it goes like thisn you go ahead and fileyour 485, then go to your home country brng in your wife on H4n as you have aleast s months of time if NSC, TSC or CSC 485 processing is not current and it is hown 1 month for receipt of 485, three months of time for getting the finger print notice and you can postpone by another month of FP by rescheduling it to another month. So literally you have 4 to 5 months to get married and by that time the dates will retrogress again. So dont worry, just go ahead file your 485 and start looking to get married. But try to bring in your spouse asap so that you can file for your spouses 485 also till the time PD is current. If you are not able to file for 485 for your spouse and you have filed for yourself and whenthe dates retrogresses again when your spouse comed to US you would not be able to use EAD as using EAD nullifies H1 and H4 status. So desi consulting companies will keep on sucking your blood as you cannot change job using EAD. If you need more info on this let me know I have gone through this and waited for almost three years to file for my spouse I resheduled my FP notice in 2004 to get married by the time my wife came retrogression kicked in and waited till June 2007 to file for my wife. My PD june 2002 still waiting
This is 100% incorrect that you lose your H1 when you get your EAD. You can maintain both the status and use H1 for your employement. You can maintain the h1 unless you use AC21 to change job. Check with your attroney for your scenario.
hair ducati 2011 motogp bike.
Green.Tech
06-18 11:58 AM
Keep calling, folks. We are making headway. Don't quit, not now, not ever!
more...
smisachu
08-01 05:34 PM
Hi smisachu,
Could you explain what you mean by this? Are you referring to "Flash Trading"
or the whole of HFT?
Yes Flash trading, ELP (enhanced liquidity program), direct access trading and even other program trading. The programs seek out discreet blocks that are being routed into the market and front run them. The main culprit according to many is GS. And to acheive a significant alpha the size and leverage are huge. Some program with a bug will dump a lot of shares on the market some day and before any one can react. Here is an article on some info that was made available only to bloomberg users.
"Lime Brokerage: "The Next 'Long Term Capital' Meltdown Will Happen In
A Five-Minute Time Period."
Posted by Tyler Durden at 11:25 AM
A recent Bloomberg piece that for some reason was made available only
to terminal subscribers, provides a very interesting discussion on the
dangers of sponsored access, how the associated pre-trade vs post-
trade monitoring deliberations by "regulators" will influence short
selling curbs, and not surprisingly, the desire by Goldman to not only
dominate this yet another aspect of high-frequency trading, but to
dictate market policy at will.
What is sponsored access:
In sponsored access, a broker-dealer lends its market participation
identification (MPID) number to clients for them to trade on exchanges
without going through the broker's trading system, to avoid slowing
down the execution. That places responsibility on the broker-dealer to
make sure the participant abides by securities regulations, and that
its trading, which can involve hundreds or thousands of orders a
second, does not run amok.
Is it thus surprising, that none other than Goldman Sachs is muscling
its way into providing not only a sponsored access platform to its
clients, but a new form of sponsored access that needs the blessing of
regulators:
Wall Street heavyweight Goldman Sachs, now launching its own sponsored-
access service to lend clients its identification to access securities
exchanges directly, said last week it favors monitoring client orders
prior to execution.
"Our view is that there is a real need for pre-trade checks in the use
of sponsored access to fulfill [broker-dealers'] regulatory
responsibilities," said Greg Tusar, managing director at Goldman.
Goldman's stand in favor of pre-trade instead of post-trade monitoring
of sponsored clients' activity is one side of a debate in which
regulators may choose a middle ground. The regulators' decision on how
to monitor sponsored access may also influence their deliberations on
restricting short sales.
What is the difference between pre-trade and post-trade monitoring? In
brief:
Pre-trade
Compliant with Reg SHO
Nip problems before they happen
View activity across exchanges
Post-trade
Faster order executions
Pre-trade systems still fallible
And another tidbit:
In traditional sponsored-access arrangements, a broker-dealer
determines a client's suitability to access market centers directly
and then allows the client to trade without monitoring its individual
orders prior to execution.
In other words, the Goldman endorsed pre-trade approach will allow
"monitoring of individual orders prior to execution." Whether or not
pre-trade checks provide the capacity to observe not just wholesale
exchange activity in the context of sponsored access but from a much
broader market angle is a discussion for another time, although this
could be one place where Sergey Aleynikov could shed an infinite
amount of light, especially as pertains to Goldman's sponsored-access
service. Conveniently, his gag order will prevent him from saying much
if anything until such time as there is an appetizing settlement to
keep him gagged in perpetuity. The bottom line is that with a pre-
trade environment, the sponsored access providers will be able to have
the potential to front run all those who use their platforms. The
residual question of how far they go to comply with regulations to
prevent this from happening, and remain true to their ethics standards
is also a topic for another day.
Going back to the topic at hand. Here is why sponsored access could
easily be quite a bother to capital markets sooner rather than later:
Unchecked errors or unintended repeat orders could deplete broker-
dealers' capital, and potentially wreak havoc in the broader market.
Concerns have arisen, however, about whether all broker-dealers are
able to fulfill that duty in today's electronic trading environment,
and according to which standards.
And here Goldman chimes in to not only promote their proposed
architecture but to expound on the virtues of pre-trade checking.
"In the case of high-frequency trading, in particular guarding against
technology failures, oversized orders and other situations where
there's potentially systemic market impact, we believe strongly that
pre-trade checks are a prerequisite," Tusar says.
Nasdaq's proposal as well as Securities and Exchange Commission
officials' speeches a few months ago appeared to lean toward
bolstering the traditional approach.
"We don't believe that's strong enough or what the regulators want
now, because of the potentially dire consequences, and because we-as
broker-dealers-bear much of that risk," Tusar says.
Now the reason why this is very relevant in the context of not just
potential front running, but also market structure is that Regulation
SHO, which is the primary regulatory framework for short selling (and
the purvey of potential Uptick Rule reinstatement, which will happen
once the market is allowed to hit a bid) is a post-trade
architecture.
Wedbush [Morgan] routinely tests clients' systems to ensure they are
compliant with Reg SHO. In addition, he says, the brokerage sets
limits on clients available locates-as well as credit and trading
limits--before the start of each trading day that its system tracks,
prohibiting shorts without locates and providing a type of pre-trade
check.
Or as has recently become the case, seeing rolling buy ins in the
middle of the day as borrowable shares in even the most liquid stocks
mysteriously disappear (look at today's market action for yet another
blatant example of this practice).
Anticipating the regulators' likely response, one should not be
surprised to see them siding with Goldman and against shorters:
As the SEC also seeks to appease investor concerns over rampant short
selling, especially naked short selling, new sponsored-access
standards may provide part of the solution. Given that day-traders may
be the last remaining culprits of such activity,, increasing and
standardizing scrutiny over their trading may reduce uncovered (and
illegal) shorts even further.
How about appeasing concerns over rampant, unjustified buying? When
will the downtick buy rule be implemented? But we jest.
And I digress again. Why should all this be concerning to advocates of
stability of high-frequency trading:
The mother of all concerns is a sponsored firm's algorithm going awry
and executing thousands of problematic trades across a range of
securities and market centers.
Well, this is not really a problem when it happens to the upside as
has been the case for months now - it is only a threat when Joe
Sixpack's 401(k) may be impacted, i.e., to the downside.
And here is where a SEC Comment submitted by broker Lime Brokerage is
a very troubling must read by all who naively claim that High-
frequency trading is a boon to an efficient market (which doesn't
provide . Well, yes and no - it is, until such moment that it causes
the market to, literally, break. I will post a critical excerpt from
the Lime submission, and leave the rest to our readers' independent
analysis:
Lime's familiarity with high speed trading allows us to benchmark some
of the fastest computer traders on the planet, and we have seen CDT
(Computerized Day Trading) order placement rates easily exceed 1,000
orders per second. Should a CDT algorithm go awry, where a large
amount of orders are placed erroneously or where the orders should not
have passed order validation, the Sponsor will incur a substantial
timelag in addressing the issue. From the moment the Sponsor�s
representative detects the problem until the time the problematic
orders can be addressed by the Sponsor, at least two mintues will have
passed. The Sponsor�s only tools to control Sponsored Access flow are
to log into the Trading Center�s website (if available), place a phone
call to the Trading Center, or call the Sponsee to disable trading and
cancel these erroneous orders � all sub-optimal processes which
require human intervention. With a two minute delay to cancel these
erroneous orders, 120,000 orders could have gone into the market and
been executed, even though an order validation problem was detected
previously. At 1,000 shares per order and an average price of $20 per
share, $2.4 billion of improper trades could be executed in this short
timeframe. The sheer volume of activity in a concentrated period of
time is extremely disruptive to the process of maintaining a �fair and
orderly� market. This shortcoming needs to be addressed if the
practice of Naked Access is going to be permitted to continue;
otherwise, the next �Long Term Capital� meltdown will happen in a five-
minute time period.
Could you explain what you mean by this? Are you referring to "Flash Trading"
or the whole of HFT?
Yes Flash trading, ELP (enhanced liquidity program), direct access trading and even other program trading. The programs seek out discreet blocks that are being routed into the market and front run them. The main culprit according to many is GS. And to acheive a significant alpha the size and leverage are huge. Some program with a bug will dump a lot of shares on the market some day and before any one can react. Here is an article on some info that was made available only to bloomberg users.
"Lime Brokerage: "The Next 'Long Term Capital' Meltdown Will Happen In
A Five-Minute Time Period."
Posted by Tyler Durden at 11:25 AM
A recent Bloomberg piece that for some reason was made available only
to terminal subscribers, provides a very interesting discussion on the
dangers of sponsored access, how the associated pre-trade vs post-
trade monitoring deliberations by "regulators" will influence short
selling curbs, and not surprisingly, the desire by Goldman to not only
dominate this yet another aspect of high-frequency trading, but to
dictate market policy at will.
What is sponsored access:
In sponsored access, a broker-dealer lends its market participation
identification (MPID) number to clients for them to trade on exchanges
without going through the broker's trading system, to avoid slowing
down the execution. That places responsibility on the broker-dealer to
make sure the participant abides by securities regulations, and that
its trading, which can involve hundreds or thousands of orders a
second, does not run amok.
Is it thus surprising, that none other than Goldman Sachs is muscling
its way into providing not only a sponsored access platform to its
clients, but a new form of sponsored access that needs the blessing of
regulators:
Wall Street heavyweight Goldman Sachs, now launching its own sponsored-
access service to lend clients its identification to access securities
exchanges directly, said last week it favors monitoring client orders
prior to execution.
"Our view is that there is a real need for pre-trade checks in the use
of sponsored access to fulfill [broker-dealers'] regulatory
responsibilities," said Greg Tusar, managing director at Goldman.
Goldman's stand in favor of pre-trade instead of post-trade monitoring
of sponsored clients' activity is one side of a debate in which
regulators may choose a middle ground. The regulators' decision on how
to monitor sponsored access may also influence their deliberations on
restricting short sales.
What is the difference between pre-trade and post-trade monitoring? In
brief:
Pre-trade
Compliant with Reg SHO
Nip problems before they happen
View activity across exchanges
Post-trade
Faster order executions
Pre-trade systems still fallible
And another tidbit:
In traditional sponsored-access arrangements, a broker-dealer
determines a client's suitability to access market centers directly
and then allows the client to trade without monitoring its individual
orders prior to execution.
In other words, the Goldman endorsed pre-trade approach will allow
"monitoring of individual orders prior to execution." Whether or not
pre-trade checks provide the capacity to observe not just wholesale
exchange activity in the context of sponsored access but from a much
broader market angle is a discussion for another time, although this
could be one place where Sergey Aleynikov could shed an infinite
amount of light, especially as pertains to Goldman's sponsored-access
service. Conveniently, his gag order will prevent him from saying much
if anything until such time as there is an appetizing settlement to
keep him gagged in perpetuity. The bottom line is that with a pre-
trade environment, the sponsored access providers will be able to have
the potential to front run all those who use their platforms. The
residual question of how far they go to comply with regulations to
prevent this from happening, and remain true to their ethics standards
is also a topic for another day.
Going back to the topic at hand. Here is why sponsored access could
easily be quite a bother to capital markets sooner rather than later:
Unchecked errors or unintended repeat orders could deplete broker-
dealers' capital, and potentially wreak havoc in the broader market.
Concerns have arisen, however, about whether all broker-dealers are
able to fulfill that duty in today's electronic trading environment,
and according to which standards.
And here Goldman chimes in to not only promote their proposed
architecture but to expound on the virtues of pre-trade checking.
"In the case of high-frequency trading, in particular guarding against
technology failures, oversized orders and other situations where
there's potentially systemic market impact, we believe strongly that
pre-trade checks are a prerequisite," Tusar says.
Nasdaq's proposal as well as Securities and Exchange Commission
officials' speeches a few months ago appeared to lean toward
bolstering the traditional approach.
"We don't believe that's strong enough or what the regulators want
now, because of the potentially dire consequences, and because we-as
broker-dealers-bear much of that risk," Tusar says.
Now the reason why this is very relevant in the context of not just
potential front running, but also market structure is that Regulation
SHO, which is the primary regulatory framework for short selling (and
the purvey of potential Uptick Rule reinstatement, which will happen
once the market is allowed to hit a bid) is a post-trade
architecture.
Wedbush [Morgan] routinely tests clients' systems to ensure they are
compliant with Reg SHO. In addition, he says, the brokerage sets
limits on clients available locates-as well as credit and trading
limits--before the start of each trading day that its system tracks,
prohibiting shorts without locates and providing a type of pre-trade
check.
Or as has recently become the case, seeing rolling buy ins in the
middle of the day as borrowable shares in even the most liquid stocks
mysteriously disappear (look at today's market action for yet another
blatant example of this practice).
Anticipating the regulators' likely response, one should not be
surprised to see them siding with Goldman and against shorters:
As the SEC also seeks to appease investor concerns over rampant short
selling, especially naked short selling, new sponsored-access
standards may provide part of the solution. Given that day-traders may
be the last remaining culprits of such activity,, increasing and
standardizing scrutiny over their trading may reduce uncovered (and
illegal) shorts even further.
How about appeasing concerns over rampant, unjustified buying? When
will the downtick buy rule be implemented? But we jest.
And I digress again. Why should all this be concerning to advocates of
stability of high-frequency trading:
The mother of all concerns is a sponsored firm's algorithm going awry
and executing thousands of problematic trades across a range of
securities and market centers.
Well, this is not really a problem when it happens to the upside as
has been the case for months now - it is only a threat when Joe
Sixpack's 401(k) may be impacted, i.e., to the downside.
And here is where a SEC Comment submitted by broker Lime Brokerage is
a very troubling must read by all who naively claim that High-
frequency trading is a boon to an efficient market (which doesn't
provide . Well, yes and no - it is, until such moment that it causes
the market to, literally, break. I will post a critical excerpt from
the Lime submission, and leave the rest to our readers' independent
analysis:
Lime's familiarity with high speed trading allows us to benchmark some
of the fastest computer traders on the planet, and we have seen CDT
(Computerized Day Trading) order placement rates easily exceed 1,000
orders per second. Should a CDT algorithm go awry, where a large
amount of orders are placed erroneously or where the orders should not
have passed order validation, the Sponsor will incur a substantial
timelag in addressing the issue. From the moment the Sponsor�s
representative detects the problem until the time the problematic
orders can be addressed by the Sponsor, at least two mintues will have
passed. The Sponsor�s only tools to control Sponsored Access flow are
to log into the Trading Center�s website (if available), place a phone
call to the Trading Center, or call the Sponsee to disable trading and
cancel these erroneous orders � all sub-optimal processes which
require human intervention. With a two minute delay to cancel these
erroneous orders, 120,000 orders could have gone into the market and
been executed, even though an order validation problem was detected
previously. At 1,000 shares per order and an average price of $20 per
share, $2.4 billion of improper trades could be executed in this short
timeframe. The sheer volume of activity in a concentrated period of
time is extremely disruptive to the process of maintaining a �fair and
orderly� market. This shortcoming needs to be addressed if the
practice of Naked Access is going to be permitted to continue;
otherwise, the next �Long Term Capital� meltdown will happen in a five-
minute time period.
hot Ducati has
m306m
06-11 01:24 PM
How far can someone go in time and sue somebody for an accident. 18 months seems to long to discover what they claim.....
Usually upto 2 years is allowed.
Usually upto 2 years is allowed.
more...
house ducati 2011 motogp bike.
kumar1
04-20 02:38 PM
I paid 100 USD to my attorney, just to reply to a small RFE. I think that is how it works.
I got soft LUD on 4/10 and a hard LUD on my wife's application on 4/13. My attorney recd the RFE today and informed that USCIS is requesting evidence of my marriage to be bonafide.
My attorney is asking for additional legal fees for replying to RFE. Gurus, do you think I should pay to the attorney or can I just reply to USCIS with evidence?
Thanks,
Praky
I got soft LUD on 4/10 and a hard LUD on my wife's application on 4/13. My attorney recd the RFE today and informed that USCIS is requesting evidence of my marriage to be bonafide.
My attorney is asking for additional legal fees for replying to RFE. Gurus, do you think I should pay to the attorney or can I just reply to USCIS with evidence?
Thanks,
Praky
tattoo ride on Ducati MotoGP bike
add78
04-28 09:37 AM
It's not just 180 daysd before the application, it also includes 180 days AFTER the application.
This is the current section on 90 days period
(E)(i) In the case of an application described in clause (ii),
the employer did not displace and will not displace a United States
worker (as defined in paragraph (4)) employed by the employer within
the period beginning 90 days before and ending 90 days after the
date of filing of any visa petition supported by the application.
And the ammendment in the new bill
(1) NONDISPLACEMENT.--Subparagraph (E) of such section 212(n)(1) is amended--
(A) in clause (i)--
(i) by striking ``90 days'' both places it appears and inserting ``180 days'';
Yes, I got that already, I did not specify in my message as it is a "after the fact" requirement, i.e. I am not undermining its potential disastrous ramifications of having to force the layoff of already hired H1B if any other layoffs occur post the H1B hire, I was simply trying to focus my analysis on the impact BEFORE the H1B employee even be hired by employer or placed at client site. But yes, this applies AFTER 180 days as well.
This is the current section on 90 days period
(E)(i) In the case of an application described in clause (ii),
the employer did not displace and will not displace a United States
worker (as defined in paragraph (4)) employed by the employer within
the period beginning 90 days before and ending 90 days after the
date of filing of any visa petition supported by the application.
And the ammendment in the new bill
(1) NONDISPLACEMENT.--Subparagraph (E) of such section 212(n)(1) is amended--
(A) in clause (i)--
(i) by striking ``90 days'' both places it appears and inserting ``180 days'';
Yes, I got that already, I did not specify in my message as it is a "after the fact" requirement, i.e. I am not undermining its potential disastrous ramifications of having to force the layoff of already hired H1B if any other layoffs occur post the H1B hire, I was simply trying to focus my analysis on the impact BEFORE the H1B employee even be hired by employer or placed at client site. But yes, this applies AFTER 180 days as well.
more...
pictures ducati 2011 motogp bike. 2011 Rizla Suzuki GSV-R Race
nixstor
11-12 02:13 PM
Was just watching Late Edition on CNN..with Arlen Specter and Chuck Schumer.. Specter did mention that he expects the CIR to be passed in the next few weeks in the lame duck session by the house.. infact he mentioned that the conservative outgoing speaker Hastert in favour of this at this time..so house might pass this now..with the senate already passed this..
Lets see who this goes ..
which day's late edition? any transcript links?
Lets see who this goes ..
which day's late edition? any transcript links?
dresses 08/06/2011. Rossi has never
nojoke
10-07 06:26 PM
Almost all Hyderabad house hold has one or more members live in US, who save atleast 15l/year and invest a lot in homeloand which would translate into sustainable stability in AP,India.
Unless US govt. declares bankruptcy, AP real estate would not burst so it would be safe to invest in AP.....
If an aparment costs 70 lakhs and that is renting for 15 thousand, how does it make sense to invest in it? The return on 70 lakhs at 12%(or 10%) is 7 lakhs/year. That is approx. 60 thousand per month. If you buy an apartment and rent it, it gives you 15 thousand. Don't you see the problem? The return on investment is low, very low. The fact that it is renting only for 15 thousand tells us that it is not affordable for most of the average guys in the city. The theory that there are more demand to snap up 70 lakh, 1 crore apartments is simply not true.
Unless US govt. declares bankruptcy, AP real estate would not burst so it would be safe to invest in AP.....
If an aparment costs 70 lakhs and that is renting for 15 thousand, how does it make sense to invest in it? The return on 70 lakhs at 12%(or 10%) is 7 lakhs/year. That is approx. 60 thousand per month. If you buy an apartment and rent it, it gives you 15 thousand. Don't you see the problem? The return on investment is low, very low. The fact that it is renting only for 15 thousand tells us that it is not affordable for most of the average guys in the city. The theory that there are more demand to snap up 70 lakh, 1 crore apartments is simply not true.
more...
makeup The showbike differs from the
NKR
01-31 02:03 PM
We can make it the number 1 question. Vote Guys.
girlfriend sponsor Ducati motogp 2011
senthil1
04-27 02:33 AM
My analysis if the law is passed in the current form
1. Non displacement provision will delay H1b process. But innovation will not be impacted as best companies Like Google, Microsoft and start up companies will not have a problem in proving that skills are not available in the market.
2. When a company lays off they cannot recruit for 6 months. But a company is laying off people they will hardly recruit for 6 months. Generally when they do less than 5% of staff that will not come under layoff provision and still they can recruit H1b. So only a few positions will be impacted.
3. 50% rule may make many bodyshoppers and Top indian companies force to recruit US Citizens and medium non public companies may split into many companies. Some H1b dependent small and medium companies may go out of business. It will have huge short term impact on H1b aspirants but they will adjust quickly to change their jobs.
4. More powers for DOL will make the companies to follow the law and reduction of abuse
5. Of course the restrictions will make less number of jobs for H1bs and L1s. But when economy improves demand will increase so that H1b cap will be reached inspite of all these restrictions. I strongly believe that system will adjust the new restrictions similar to TARP bill but short term very high impact. But that can be minimised by applying all those restrictions only for new H1bs. Generally more restrictions the persons qualifying will be best and bright and also wages for H1bs,L1s also will increase with improved working conditions.
6. If pro immigrants like IV can negotiate to include Recapture or increase GC cap. But that depends on chance of passing the bill. If IV and other pro immigrants lobby and block the bill then that makes sense. But if the bill gets bi partisan support then it may be wise to take different approach. This bill may be like 2007 and may not be considered at all.
I did not read the bill completely but my views were based on some major provisions and also I do not believe the conspiracy thoeries that they want to remove the H1b program first then EAD then GCs. But it is a protection for US citizens. I am not arguing that the protection is right or wrong but most countries in the world are trying to do that when recession. India has 100% protection for jobs for Indian citizens
1. Non displacement provision will delay H1b process. But innovation will not be impacted as best companies Like Google, Microsoft and start up companies will not have a problem in proving that skills are not available in the market.
2. When a company lays off they cannot recruit for 6 months. But a company is laying off people they will hardly recruit for 6 months. Generally when they do less than 5% of staff that will not come under layoff provision and still they can recruit H1b. So only a few positions will be impacted.
3. 50% rule may make many bodyshoppers and Top indian companies force to recruit US Citizens and medium non public companies may split into many companies. Some H1b dependent small and medium companies may go out of business. It will have huge short term impact on H1b aspirants but they will adjust quickly to change their jobs.
4. More powers for DOL will make the companies to follow the law and reduction of abuse
5. Of course the restrictions will make less number of jobs for H1bs and L1s. But when economy improves demand will increase so that H1b cap will be reached inspite of all these restrictions. I strongly believe that system will adjust the new restrictions similar to TARP bill but short term very high impact. But that can be minimised by applying all those restrictions only for new H1bs. Generally more restrictions the persons qualifying will be best and bright and also wages for H1bs,L1s also will increase with improved working conditions.
6. If pro immigrants like IV can negotiate to include Recapture or increase GC cap. But that depends on chance of passing the bill. If IV and other pro immigrants lobby and block the bill then that makes sense. But if the bill gets bi partisan support then it may be wise to take different approach. This bill may be like 2007 and may not be considered at all.
I did not read the bill completely but my views were based on some major provisions and also I do not believe the conspiracy thoeries that they want to remove the H1b program first then EAD then GCs. But it is a protection for US citizens. I am not arguing that the protection is right or wrong but most countries in the world are trying to do that when recession. India has 100% protection for jobs for Indian citizens
hairstyles Ducati-2011-MotoGP.jpg
waitingGC
02-11 05:23 PM
This is completly wrong statement. Actually, it is otherway. The EB3-ROW is currently enjoying at the expense of EB2-India and China. It is enjoying not only in this year. It is happening since 2005. If you have doubt, please visit DOS website and anayze the statistics right from 1999 to 2005. Furthermore, all the AC21 numbers (about 150,000 unused visas) that was captured in previous years (1999-2001) that came from unused EB2 and EB1 numbers. Theoritcally, these numbers should have been used to reduce backlog in EB2 first, then it should go to EB3. Since no one cared about this, EB3-ROW was free riding in EB2 numbers despite heavy demand in EB2.
Everyone knows that EB3 is heavily retrogressed compare to EB2. No doubt about that. The only solution for this is to increse the numbers. Everyone is working hard. However, it does not mean that one should ignore how DOS/USCIS mis-interpertinng the law and doing harm to EB2 Indians and Chinese. No one here is to sacrifice for EB3-ROW. Fighting to eliminate retrogression and understaing the correct interpretation of law and rule is totally two different issues. Please do not confuse between those.
I totally agree with you. I think we should call DOS/USCIS to complain about this. I will ask as many as EB2s to do the same.
Everyone knows that EB3 is heavily retrogressed compare to EB2. No doubt about that. The only solution for this is to increse the numbers. Everyone is working hard. However, it does not mean that one should ignore how DOS/USCIS mis-interpertinng the law and doing harm to EB2 Indians and Chinese. No one here is to sacrifice for EB3-ROW. Fighting to eliminate retrogression and understaing the correct interpretation of law and rule is totally two different issues. Please do not confuse between those.
I totally agree with you. I think we should call DOS/USCIS to complain about this. I will ask as many as EB2s to do the same.
santb1975
06-17 01:58 AM
We need more
dr_vroeg
06-07 10:06 AM
Hope this isn't too late (even though I have a whole month still). Love the other entries so far. Go Holland! :tb:
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