dafugginman Senior Member Registered: Nov 2001 Posts: 116 06-05-02 08:22 AM Re: OK, some good points,,,but.... quote: -------------------------------------------------------------------------------- Originally posted by Don Bright GHansen says we have a "piss poor execution system"....that is just plain silly, and has only been brought up by firms who could not qualify for Redi Plus...I mean, really, this is the preferred platform...and is being updated almost monthly to accomodate traders needs. With the merger of Redi and Arca, we have one of the most reliable systems in the world. **A side note** a competitor is about to lose access to Redi, which will bring quite a number of traders back to us since they insist on Redi. Don -------------------------------------------------------------------------------- though many people give you a hard time, you're posts have never bothered all that much me before. you are trying to run a business, so you post teasers to get people to come to bright. that's fine, and i can respect that. but, when you flat out lie to make bright look better than it is, it's disgusting. quote: -------------------------------------------------------------------------------- Originally posted by GHJ " **A side note** a competitor is about to lose access to Redi, which will bring quite a number of traders back to us since they insist on Redi."" **A side note** a competitor is about to lose access to Redi, which will bring quite a number of traders back to us since they insist on Redi." -- Don Bright It's more like SLK is going to lose them as a client! -------------------------------------------------------------------------------- thank you GHJ everyone knows that ETG has among, if not theee, highest commission rates in the industry. so, leaving slk for instinet will lower commissions for the traders while maintaining the hefty profit margins that ETG has enjoyed in the past, and provide rebates (?) for adding liquidity to instinet. so, ETG will be MORE competitive, not less. yes, some traders are dismayed that they will be losing redi because they are comfortable with it, but i'm looking forward to it since it will lower my costs. and, who knows, maybe it will be a better system. the charting is certainly better, which will save a few grand/year alone. by the way, etg has been with slk for 10 years and did 2.5 billion shares last year (all public and on the website), so that alone calls your quote into question. on a side note, bright trading is not owned by goldman..period. you are a client. quote: -------------------------------------------------------------------------------- Originally posted by GHJ "...I mean, really, this is the preferred platform...and is being updated almost monthly to accomodate traders needs." Don Bright Monthly? Gimme a break. People who use REDI+ say there hasn't been a meaningful update since last fall. IMO REDI products is the slowest of any trading software firm BY FAR in terms of addressing traders needs and implementing new functionality. -- GHJ -------------------------------------------------------------------------------- right on once again GHJ redi+ has not been updated once since i started using it six months ago. redi+ is notorious for freezing and crashing, though it's the only system i've used, so i can't compare. I lost a lot of respect for you don. if i ever do need another prop firm, bright will be the last place i look into. oh wait, you're a brokerage firm, recruiting retirees, not a prop firm. "The person who posted about the competition between Clearing Firms is absolutely correct, and we are always being courted and we continually negotiate for better deals....we are selective however, since we don't want to sacrifice security for a few pennies in costs...and traders should be the same way." Don
sounds like Don truly loves GS and SLK and that they would never give up that relationship just to save a few pennies!!!!
Hahaha. Yeah right. Looks like Bright's affinity for SLK is erroding like the Malibu coastline. Maybe it's because SLK's pricing isn't competitive or maybe its from all the negative press about REDI+. Gr8trade will likely give them a "passable" alternative to REDI+ for Nasdaq traders. Though Bob and Eddie probably figure this move will have a side benefit as well by coercing SLK into lowering Bright's rates.
i was a little harsh on don at the time, but the fact that he implied ETG was dropped by SLK because of financial difficulties crossed the line. redi+ still has not made a single change to their platform since i started. i'm speaking in terms of features, though they release 'updates' to correct bugs, but you never notice the difference. granted, i'm sure all platforms go down sometimes, but redi+ still has frequent problems, like 'can't trade NASDAQ symbols A to whatever. by switching, ETG gets a better platform, maintains their profitability, attracts new talent, while keeping their current talent. my commissions will be cut by nearly 50%, compared to when i started, when we switch. that should tell you something about how much SLK charges. also, protrader is taking suggestions from ETG to change their platform to accomodate listed traders, such as making it more mouse friendly, open book, etc. they have one touch bullets, and hopefully we will switch to their bullet firm also. frankly, based on the new commission structure, no capital down deal, ETG will have among the best, and maybe the best, deals in the industry. maybe bright will offer lower commissions, but they can because they risk nothing on their traders. andover's rates and software may be a tad, tad better, but again, your trading your money, not the firms. now, the ball is in bright's court. loyalty and relationships??? please. ETG was with SLK for 10 years, they provided office space etc, and that didn't stop them.
but Don was so adamant in his previous posts, do you think they would really give up Redi+ and switch over to some nasdaq software? he even mentioned that they expected to have guys move over from "said firm" just to be able to use Redi+ again.
Bright has followed ETG's lead before and they probably will do it again. (For example Bright had always contended that becoming an LLC was a bad idea. ETG became and LLC and Bright shortly followed. Don't buy the "we had to because the regulators told us.....bs) Don's lack of response is a pretty good indication that this rumor is true.
i guess you are missing something, or actually, several things..... a) i was quoted on bright, where he mentioned ETG so i responded. b) there was a question on the features of the software, which i also responded to, and backed that up with my knowledge which stems from being at ETG (which i guess you don't give me permission to mention). c) there was a question as to why would bright switch, and so i said why the potential to switch is there, because Bright's relationship to SLK's is the same as ETG's, costs, time of relationship, etc....you're right, my post had nothing to do with this thread....whatever.
My post wasn't meant as an attack??!! Just a question as to how is ETG related to a thread about Bright moving to Instinet that's all Robert