And how do you expect to manage the exchange's message-to-fill ratio policy ? You just can't run your automation all day long. I have AutoSpreader because I have to buy the TT Pro license - and I very rarely use the thing. Seriously.
I don't know, I am not even sure I will use it. Do you recommend legging into spreads? If so, is getting hung an issue at all?
Let me explain the facts. You will get glued, tatooed, and fucked eight ways from Sunday. And I'm being diplomatic about it. You are trying to leg highly correlated products, or you have a fantasy about autospreading through a high speed cable modem, arbitraged products. Taking the other side will be a group of traders who pay RTS $18K per month for their system, and they pay $60K per month for their own dedicated lines and their very own co-located servers. Billy bad-ass servers. They don't like to share. Didn't do well in the early years. Probably had to be home schooled. Now, those guys hire me. And I do their bidding. But the little guys hire me too. And I trade my own account and I stopped all the HF nonsense in 2003. If you position trade spread trades correctly, and do not include the front month in your spread combination, you will be mother fucking golden. Platinum tits up. Specs are in the front month. The rest of the forward curve is institutional and they do not play games. You can see them from a mile away. BIGGEST REASON EVER: Futures Spreads are so stupidly amazingly cheap to carry overnight. The SPAN margin credits are ridiculous. Cheapest leverage on the face of Planet Earth.
They generally refer inquiries to the many brokers that offer their platform http://www.ctsfutures.com/customers.aspx (for example Crossland via http://www.deepdiscounttrading.com/ ) but you can alternatively use Cunningham Commodities if you want: https://www.cunninghamfc.com/
you dont "buy"... you lease... doom and gloom... boring... also, last I check TT and CQG spreaders are server based... but wait, the doom and gloom has a purpose!!! see below... it is called: sales! ... hilarious... yes, hire him... pay the $7.5K, he makes a lot on his account, but he finds that educating people helps pass the time.. so he is not "profiting" from training you, he just has upped his costs from really cheap to not so cheap to keep up with inflation... wait, is he a trader or an educator? who knows really...
I've been using TT since 1998, so I know all about the licensing structure and how much it costs me per month. Your comments of course excludes my proponency of position trading exchange supported spreads as a better alternative for most traders. Very selective sniping on your part. Sure, most everything is server based these days, including TT AutoSpreader. And you're a fool if you are claiming that you'd be just as fast as a dedicated arbitrage group using something along the lines of RTS or Portware and their own dedicated ECN infrastructure. ( $$$ )
I think the idea of rapidly flipping spread positions intraday using automation - especially with a non-member exchange rate structure, makes very little sense for most traders.
Nobody here thinks that CTS autospreader will finally give us the proper tool to do some quasi-arbitrage on highly correlated instruments, but it should be just great for legging in on thinly traded spreads that are actually not supported as such by the exchange. Think Corn/Live Cattle, Soymeal/soybeans or some interexchange stuff like UK Natty/ NY Natty... However, I hope there will be a way to activate/desactivate the spreader automatically when we are quoting far from the market... Great news
Getting around the TT patents for the AutoSpreader SmartQuote and Slop settings functionality should prove to be a real trick for CTS. And everyone knows how litigious TT has been through the years.