The Initial Minimum Deposit Requirement is reduced from $500 to $100 and the new Active Trader Pricing Schedule is initiated on Wednesday, May 11, 2005
Pursuant to Commission Regulation §40.6, the HedgeStreet Rule Committee has approved the amendment of Rule 3.1(b) which now features the new initial deposit requirement of $100. Additionally, an Active Trader Pricing Schedule is established such that a) the Minimum Trading Fee of $5.00 for Standard Pricing is replaced with $0.00. (Standard Traders are Members that do not qualify for Active Trader Pricing); b) beginning in the month of April 2005, any Member that traded more than 20 times in a calendar month is qualified to receive Active Trader Pricing; and c) if, while receiving Active Trader Pricing, a Member does not execute 60 trades in 2 successive calendar quarters, the member will be changed from an active trading status to standard pricing status. Click here to view the Rule amendment and to view a chart summary of the Active Trader Pricing Schedule.