really, that is Tony Driscolls mob isn't it?? That is the 2nd group i have heard about in the last 2 weeks.
yes this is what i talked about on other threads. profiling is our main problem at the moment. the sheer processing power and number crunching that goes on is amazing. this is the main reason i changed my style to taking a view. with all the spreads and outrights programmed in coupled with the time and sales data these guys know exactly where to squeeze a spread.
im unsurprised. expect a lot more as the volumes will dwindle over the summer. less commission and ever decreasing profits will force these smaller outfits to the wall.
I feel the same situation on eCBOT and also on big tick contract such as the ZB... you may imagine on ZN.
Everyone I speak to is saying all the same things as being echoed in this thread. I just took a month off to come back and find the arcade I was in had 'merged' with another. I am trying desperately hard to find a new edge, but its proving the greatest challenge of my trading career thus far. I dont know if there is any truth in this, but speaking to a guy at another prop shop this morning, he told me that TT had been loosing around 200 clients a month since October. That sounds a little on the rich side to me but ball park it wouldn't surprise me at all.
I should think TT will lose a whole load more after yesterday's screw up, v6 being down the whole day on eurex, I hope they get shafted in their patent case.
The instant counterparty info needs to be removed for all exchanges in order for to level the playing field. Millionaires can't play no limit poker with Billionaires.