The Goldman Sachs Execution and Clearing, GSEC, division of GS has always worked well with us. The safety and security, along with the economies of scale provided, has us much happier than any other Clearing Firm we've used or been approached by. FWIW, Don
To be fair, Goldies managed to get Redi hooked up to Excel for execution, but I still don't like it. Don't like the interface, it's too crowded and all the bells and whistles make it laggy. Don't like their spreaders, they're needlessly complicated. Finally, don't like their fees. This is all in reference to FI (bond and STIR futures). My Z$2c...
The 8.1 and 9.0 versions have greatly improved any speed concerns that our black box people have had. We use primarily for equities of course, and have many programs written to the API. We appreciate the whole package. There were only a handful of firms that GS kept when they bought SLK. We tried other Firms, but the second tier firms are just too much of a business concern for us. For the average trader, it probably wouldn't make much difference, but with so many traders and money involved, the security factor is very important to us. All the best everyone... Don
All, How is it possible to get a REDIPlus account? I'm currently just an individual investor... I wrote GS and they said: "Thank you for your inquiry. REDIPlus is only available for institutional traders, we do not offer services to individual investors." So, down the road, if I become a "business entity" (like an LLC, S-corp, etc), maybe I can get a REDIPlus account? Maybe the real question is: Is an "institutional investor" defined as an investor who files his/her taxes as a business entity... or is it defined as an investor who simply has a whole lot of capital to move around.... or a combination of both? Maybe it depends who you ask.
I'm always reluctant to change and I liked Redi 7.2 I kept it as long as I could, upgraded to 8.1 last month and it's grown on me. Redi is pretty customizable and it's stable. I run Redi and 2 ATS's with about 180 or so DDE links going. I don't usually have any problems. Maybe once every 2 or 3 months I'll have something freeze or get tons of bad ticks and quotes. Don't know if that is usually an issue with Redi or just bad data feeds. The newer versions of Redi use up more resources, more RAM and more CPU it seems, but they are much, much faster and handle the DDE links much better than the older versions 5 and 6s. The older ones seemed to really lag.
Redi 9.0 is ok. It is a lot like 8.1 but without a spread trader bug and some stuff I don't use. Redi is great when you trade a lot. they have a lot of algorithm's and programs(portfolio trader/spread trader) in which you can trade huge sizes in a user and slippage friendly way. The charting package is crap. Only the tick chart updates realtime the rest is delayed. So when you need the charts use a different program and turn it off. It has a very easy DDE link addin for excel.
Has anyone used the new Redi+ 10.0? How is it - speed, performance, functionality, reliability? I am also particularly concerned with those who use it to trade futures? I also hear that execution & clearing costs at GSEC is quite high. Can someone share info on average commission costs. Thanks.