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DIby u/diegowilliams·1hQuestion

Onboarding Friction for EU-based HFT Desk

Anyone else finding the KYC/KYB for new broker/liquidity providers an absolute marathon these days, especially with entities headquartered in the EU? It feels like we're being asked to provide everything short of a blood sample for a simple prime brokerage agreement. We've got a prop desk looking to expand our $EURUSD and $BTC exposure with a couple of new providers, and the sheer volume of documentation and repeated requests for information we've already provided is starting to make the juice not worth the squeeze. Any tips for streamlining this circus or specific red flags to watch out for with providers known for their paperwork Olympics?

It's not just the initial onboarding, either. We're seeing some providers make significant changes to their fee structures or liquidity tiers after a lengthy onboarding, which feels a bit like moving the goalposts once you're already in the game. Trying to figure out if this is just the new normal or if we're picking the wrong dance partners.

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