CORNERSTONE MTO-FAQS
Do you accept all applicants? No. As a general rule, we only accept applicants who have previously been a member of a United States security exchange. We make occasional exceptions for traders with significant prior experience.   How long does the application process take? Timing depends on how quickly you return the necessary documents to us. On average, the entire process takes two or three weeks.   What are Member commissions and fees? All commissions and fees are explained on the MTO Rates page.   How much equity must I contribute to become a member? This can vary widely, although most traders start with low to mid six figures. Typically, $50,000 is the lowest contribution we accept.   Who do I call with technical issues? We trade on the same infrastructure our MTO members use, so if any problems occur, you can be certain they’re dealt with quickly. Regardless, we can also be reached via phone, email and IM.   Do you have smart routing? Yes – we have variety of smart routing options to make sure you have every advantage available to get the best possible price. What platforms can I use? We currently use Sterling Trader Pro.   What products can Cornerstone MTO members trade? As an MTO member, you may trade stock, options and futures.		What affiliations and exchange memberships do you have? We are members of the CBOE, ISE, BOX, and ARCA exchanges. Our clearing firm is Merrill Lynch Professional Clearing. Do you offer automated trading? We provide the infrastructure for your automated trading applications, but we don’t provide our Members with any ‘black box’ solutions.   Do you offer remote trading? Yes – all Members are free to trade from our Chicago trading floor or remotely. We have redundant internet connections across separate backbones that operate at 100M and 10M, respectively. Do you have direct access? Yes, we have direct access to all major exchanges so that you can receive extremely high-speed execution.   Do you require a series 7? No.   How often will I receive statements? Our clearing house, Merrill Lynch, provides daily updates on their secure website. You will be provided with your own credentials so that you can have access to your account information at any time.   Do you provide year-end tax information? We provide all Members with a year-end K-1.   How do I check my day trading and overnight buying power? Sterling Trader Pro provides real-time data on all trading information, including overnight p/l, day trading p/l, and equity balances.