i know certain realtick brokers are trading the mini contracts on the cme, but are there any realtick brokers that trade all contracts on the cme and cbot, foreign exchanges. if not any recomendations on fcms that use realtick type software, not interactive brokers. thanks
You will start to see more current RealTick brokers offering futures trading thru the platform. Up until the last 7.4 build before the 7.5 release a week ago the futures part was in beta(alot of backoffice provisioning stuff has slowed the rollout until now, won't bore you with the details). I know I was a beta tester for the program. The first broker to offer futures on the platform was/is TerraNova Trading. I talk with the head of trading regularly as he is one of Townsend's largest customers. All that is required is setting up a separate futures account at TNT. It's transparent from a trading persceptive(setup a separate Montage with the account preassigned). I must admit it's very slick being able to trading futures on RT3 and have all the charting, equities and futures all on one platform. You get depth of market which at times can be telling of market conditions(people can't hide size). You can currently trade all of the cme mini contracts online now. The only contracts that don't offer much liquidity at this point are the Russell mini and the sp400 mid cap mini. For RT3 CBOT dow mini trading is right around the corner(which I will probably trading exclusive once available). As far as trading overseas contracts I personally don't trade them, so I can't answer that question you have. You can contact TNT-Mike here on the elitetrader site or contact them directly and tell them Brian Sullivan suggested you call. They lowered there futures commission structure just last Thursday and are now very competitive. Won't mention the pricing structure here, don't want to get slammed as advertising. I'm a remote trader that only wants to answer another traders question.
thanks for your informative response, but can u trade the larger con at the cme electronically, and when u say set up acct do u mean with another broker, as i would like to use them exclusively, only reason i mention this is i would like to trade the larger con at the cme through tn and maybe some of the other more liquid ones thanks
You must setup a separately funded account thru a FCM, but you can do it thru the same introducing broker like TNT. They handle the paper work so you only get statements from one broker for both equities and futures/commodities. The requirement for the separate account is federal statues that don't allow for comingling funds. For SSF's futures they can be traded out of an existing equities account, but you lose the tax benefits of the eminis. Narrow based versus broad based index 60/40. For now only mini contract that are globex2 traded are allow thru the RT3 platform. For big contracts they are only pit traded. Some software platforms allow for entry electronic but it's still dumped out to a pit runner that gets it to the floor trader. Emini are electronic from start to finish. Instanteous fills almost without fail. I've traded both the big contracts and the mini. I can promise you the minis are the way to go. Tons of liquidity 24 hours a day. There are always 300 to 500 plus contracts of liquidity on the sp minis across 5 tiers of depth. Get in and out is never a problem. If I can answer any other question let me know.
you have already answered much of what i was asking and i appreciate this, i apologize if i do not understand this correctly, but this is how i interpret what you said. the minis are traded globex 24, very liquid. the big contracts are traded in the pit but can be executed electronically. so my question is, can rt handle the bigger contracts electronically, i understand they are done in the pit, but it sure beats using the phone, also, have u ever had problems with liquidity on the big contracts. do u trade other exchanges such as kbot, where the value line contract is traded can rt handle other excnanges? i know u said they are going to do cbot and i think that will be beneficial, i know many dtraders who are starting to trade the dow, i think tn can bring in a lot more clients with just this 1 move. besides the naz and spmini do u trade any other contracts on the cme such as sp midcap nikkei, through realtick. basically, does rt handle everything on the globex. reason why i ask, i have a model that shorts the big longs the mini kind of like a index arb using hte same index. and can u write options on fut through realtick, in case u get a limit move to get out or reduce exposure on a position, thanks for all your assisstance in this matter.
BSulli- How long have you traded the emini? Did you start out at a firm before going 'remote'? This may be the wrong forum, but I've been curious about the emini futures contract. It seems we can't trade them at our firm. Probably a gaping hole in my knowledge of the markets. Contact me offline, if more approrpiate. -Kestrel-
Cartm, My market scope has narrowed alot over the years to only the sp and nas mini and Russell mini when volume picks up, the Dow mini when the CBOT hookup is complete. I no longer trade options on futures or equities, not worth fighting/managing IV preminum. Most of your questions would be best be answered by the broker or Townsend. Not trying to avoid answering I wrote a very long response a moment ago to only have elitetrader auto log me off without knowing it so I lost the actual response( I don't post very often, generally not worth getting bashed). Besides futures trading on the platform is so new that getting second hand info from me that might accidently be wrong will only set off someone on this board and get my knuckles rapped! lol Brian
Been trading emini's long enough to not go back to trading equities for my style of trading. Others have differing opinions about that, but will leave it for other threads to debate. I've always been a remote trader. I tried spenting a few days here and there in my various brokers offices over the years and listening to everyone in action only confused me. Doesn't mean if I went with a prop shop that I couldn't learn to trade in the environment. I don't know what type of broker your firm is so as far as your firm not trading mini's you'll need to talk with them and get a clear explanation as to why they don't and if that's going to change. You can always change brokers A lot of equities daytrading firms are focused only on stocks for the type of trading they're training customers to trade. Where as futures brokers are focused on only futures, bonds, currency and commidities for the most part. With the advent of single stock futures i think you will start seeing it to be more common for firms to be more heavily involved in both markets. Brian
Kestrel, Are you in a equity prop room? Why do you not have access to futures? Would your office be interested if we can facilitate the set up?
Yes. I'm in an Equity Prop. firm although I am non prop. The firm has been working on trading futures for a while, but nothing has materialized. ------------------------------------------------------------------------------ I'll pass along to the executives any information you want to email to me. I'm interested- but they can be extremely shortsighted and stubborn. It has really hit their business with this long shallow roadkill of a recession. It took them 4 years to quit squirming about my options trading. Don't get your hopes. People love to hate this firm, and many of them have good reason. More is the shame. -Kestrel- <-l ->