It never had a DOM!! Thats the point. You just have a page with boxes in. You fill in the boxes and hit send. Each part of the order has its own little box - one for order type, another for price, another for exchange.... you get the idea. Think of an exchange front end or retail web application circa 1995-2000 and you get the picture.
I don't use it but I did just over a year ago and it was much more improved than that. You can save favorite securities, drag & drop from the QRM screen, set up custom keys, etc. It all depends on what you are doing - if you are trading (daytrading/prop) then its not needed but if you are a position level trader or trade OTC or trade baskets it can be a great thing. Yes BB reps tend to have high turnover at the lower level but at a higher firm level (50 terminals plus) you get excellent service and your rep stays with you for a long time.
Drag and drop from the QRM screen? Are you talking about managing open orders? can i grab and order and reprice it? and do they not have a dom at all. im worried about using a dom with moving prices. i prefer when the order book moves and the price ladder does not.
Bloomberg tradebook is fully integrated with their new launchpads so order entry is very simple and quick. Linking order tickets to your quote grids/live prices gives you instant 1 click trading. Their new escalator/DOM trading is much better then TT and is all 1 click as well. The one thing bbg has going for them is technology and the improvements on the trading side in just the past few months has been huge. You might hit them up for a demo (msg me if need contact) as I think you'll be impressed. As a professional trader, I've made the switch from TT over to tradebook and won't go back now!
Is their DOM static like TT or can you make it static in anyway? I'd blow up trading on a DOM where the prices moved around.
They've added a freezing technology to the DOM whereby, it free floats when you're not hovering over that window. However, when you hover over that DOM it freezes the prices and only the volumes run up and down so you can ensure you hit the right price. You can also easily type in a price override to enter an order at that level should it be higher or lower then the DOM window, etc. Hope that helps!
when did they come up with a DOM. Actually, I never bothered to check if thy have a DOM, so maybe they had it for long but I don't know. You are one of the first I have met who says they switched from TT to bbg for execution. Otherwise most of the bbg users work for big firms and use it for data gathering/analysis and chat and not execution - unless you are trading OTC or FX. Basically, I never saw anyone before using bbg for futures execution. Most of these guys use some other tools like TT, or even sell-side tools like BARX (BarCap), Autobahn (DB) etc.
Thanks. What about direct market access? Do futures orders through BBG route direct to the exchange matching engine or are the running to a bloomberg server which then routes to the exchange?