OMM Re-Application Reqs

I assume this was added as a footnote after the main application requirements were settled, but it really seems inadequate. The re-app may not be needed often, but it's still important; as is, there may as well just be an automatic re-vote on rejected OMM's every two months.

I believe the re-app should a shorter, but stricter process. Presumably, rejected OMM's will have the experience and trade references needed to get larger trades, and they have something to prove to staff on top of that.

Ie, the re-app might be something like:
3 trades over $200
2 trades over $300

With the suggested 2 month delay. Whatever the requirements are, "10 trades of any size" doesn't really give the staff much new information to vote on.

 

I agree with you about having a slightly stricter re-app for OMM...but i Think instead of 3 $200+ and 2 $300+ we should have, 3 $100+ and 2 $200+ and i like the 5 any size trades. Support

 

I think the current one is good, no need to change.

 

I think this can/should be expanded upon.

For example, continue the current 10 trades of any size/10 trade below $100, 3 trades between $100-$200, 2 trades over $300.

On top of this, a staff poll.

I was also going to suggest an added touch to the current OMM requirements system in n4n0's thread.

Why not also have a community based poll?

Because it is who the potential OMM applicant will be trading with, the community.

However the staff poll will always hold the discretion over the community poll, but a community poll may assist/enforce the staff poll of whether the community as a whole in fact trusts the OMM applicant.

I hope you understand my idea.

 

I support. Maybe the only requirement should be 5 trades over $200. The other five aren't really necessary at that point.

 

The problem with a "Community Poll" is that the rejected OMM could skim through his/her MSN list, and offer a payment to those who vote "Yes". At the same time, anyone who holds a grudge against the applicant could also pay his/her MSN contacts to vote "No". I think the voting should be left to the staff.

 

I intended a community poll for first-time OMM applicants.

Sorry for the misunderstanding.

However, even if that were so, as I stated already the staff poll will always have the final decision.

But thanks for pointing that out.

 

Five trades total would be fine as well (and I changed the suggestion to reflect that), although I'd still encourage at least one of those trades to be $300 or more.

 

I agree. After an OMM application is declined they should need to get more big value trades. I would say 2 400$+ trades.

 

I don't really support this, it is hard for someone who is not an omm to get trades of that caliber, maybe a little longer and a little less stricter. However I think that re-applying with 10 new trades is a bit hefty.

 

Would you rather have someone be given OMM and then prove their trust? Or people who have already proven their trust.

 

I'm sure they'd rather spend the time getting that larger trade if it'll sway the staff's vote then get rejected again and have to wait another two months.

 

I support this, esp after the market lounge read I would only trust a few of the omms now.