Becoming a member of the Assent trading community as a proprietary trader can present some significant opportunities to leverage the considerable strengths of our powerful, feature rich trading platform.
The process of becoming a proprietary trader typically starts with a consultation with an Assent Branch Office Manager. The steps in the overall process are presented below, for your review.
STEPS FOR OPENING A NEW PROPRIETARY TRADER ACCOUNT
(PLEASE CONTACT THE ASSENT REGISTRATION DEPARTMENT AT (201) 356 - 1469 FOR MORE INFORMATION )
Initial Review With an Assent Branch Office Manager to Qualify Your Application
- Review with your Assent Branch Office Manager the registration, capital and suitability/prior experience requirements associated with being a proprietary trader for Assent. This will also be the opportunity to discuss your trading strategies, and any special requirements you may have.
Retrieving and Completing the U4 Form (Registration) Package
- Assuming you are eligible to trade with us as a proprietary trader, you'll need to retrieve the industry standard Form U - 4 Package (i.e. "Registration Package") from: http://www.assentclearing.com/forms.asp?prop
- It's very important that you comprehensively complete the U4 Form package, which takes a potential proprietary trader through the process of documenting past employment situations, trading experience, licensing specifics and identity verification matters. Additionally, there are segments on the U4 Form that provide for the disclosure of material events, required for the full completion of the registration process.
Fingerprint Cards Must Be Submitted
- Federal law requires an official fingerprint card to be submitted for each registered person. This step is required even if you have previously been registered with another financial institution, or been previously fingerprinted for other affiliations. Please speak to your prospective Branch Office Manager about the specifics of the fingerprinting process. Retrieving and Completing the New Account Package
- The next step is to retrieve and complete the Proprietary Trader New Account Package from http://www.assentclearing.com/forms.asp?prop. Provide the completed package to your Branch Office Manager along with a capital contribution check (or Fed wire -- for instructions, see new account package) drawn on an account in your name.
Photo ID Required
- A photo ID must be included. If the address shown on the photo ID does not match your current address or the address on your new account application, additional information will be required, such as a current utility bill, phone bill, bank or credit card statement, etc.
Branch Office Manager Reviews Package, Completes Their Sections
- The Assent Branch Office Manager will review the package and complete their parts and forward on the completed package to Assent's New Accounts Department in Hoboken, NJ.
PLEASE NOTE THAT CERTAIN NEW ACCOUNT OPENING REQUESTS MAY REQUIRE SUPPLEMENTAL DOCUMENTATION ON A CASE-BY-CASE BASIS.
Hoboken New Accounts Dept. Verification & Handling
- Once everything is submitted, there are a series of verification steps that we must carry out, including verifying that applicable Series 7, 55 and/or 63 licensing requirements have been met. Your Branch Office Manager can review these with you and answer any questions you may have about these requisite licenses.
- Once everything is verified, we'll set up an account number and a new trader ID for you. At this time, we'll be applying the rates and various trading level parameters your Branch Office Manager has submitted on your behalf. We'll confirm this information back to your Branch Office Manager, who in turn will provide it to you
Your Branch Office Manager Will Confirm To You That You’re All Set To Trade!
- Your Branch Office Manager will then get you up and running and will arrange for any assistance you may need in getting the required trading software and your keyboard layout configured, as well as any special charting or remote access software you may need
NOTE: If you plan on using any automated trading strategy programs, there are some additional pre - account opening steps and documentation your Branch Office Manager will review with you.
