MJT Software Development
Clearing Firms
- Every MJT user will need a Clearing Firm
- MJT is currently compatible with Goldman Sachs and Merrill Lynch.
- If you have a clearing Firm that is not compatible with MJT we will entertain coding to that Clearing Firm.
- Any Clearing Firm you choose must be compatible with the exchange you are quoting to.
- Recently the Clearing Firms have required each user to have a certain level of capital committed to Haircut and generate a certain level of commissions on an annual basis.
Clearing Firm Website Links:
B of A (ML clearing)
Goldman Sachs
MJT also works with several middlemen who act as the Broker Dealer on behalf of the trader. These middlemen aggregate middle level and smaller traders together to meet the greater commitments required by the Clearing Firms.
Middlemen Website Links :
Vtrader
AK Capital
- Provide a BD for the trader
- Provide tech support
- Better commissions based on scale of many users
- Sometimes provide additional risk capital
- No individual exchange audits which can be extremely time consuming for small operators