We completed our corporate taxes last night and submitted them.
A few thoughts:
Our IT and market data costs have grown, and continue to be significant.
The process of being licensed by FINRA and being a member of QED-C is also a relevant cost to our business.
Finally, we are operating with very limited labor costs. As we grow, this will become our dominant cost category.
Overall, we have mostly fixed costs in our business. Therefore, growth in client orders generates positive net income and operating leverage.
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