do you have any idea how much trading one needs to do to incur over $7k a day in brokerage? A phenomenal amount.
On top of that, JB Markets/JB Trading House has no membership of any market anywhere in the world. Why pay brokerage to a related party when you could go to an entity with a direct link to the market and pay less?
On top of that, HML didnt disclose the number of transactions they undertook - they are meant to include that in their annual report as well.
On top of that, how can an entity without cash trade so much? Prime brokers, who service hedge funds, require much much more capital to be held in order to let one use their services. Far more than the dollar amounts reported by the company.
I dont think theyre getting caught up in HFT at all. I just think there is something behind the brokerage charges which might not be related to trading.
One other thing - HML started trading in early Feb 2016. Suspended in June 2017. They have now been suspended for a longer period than they have traded, which is quite an accomplishment for an entity that has been on the boards for less than 3 years
do you have any idea how much trading one needs to do to incur...
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