At the end of the day who cares if you can't use TT, you know as well as I do any trader worth his salt can trade on any front end and if TT start charging 5 Cents per round turn to everyone in the industry I for one won't want to use it. I have just spoken to a trader at MAC and it is true they have slashed their rates. I have been looking around lately and beleive me they are the cheapest.
RefcoPro is their own software now, since Refco/RTS simply bought the ISV. 16/03/2005 - Cash Offer on behalf of Refco Trading Services (UK) Ltd 10/05/2005 - Refco Trading Services (UK) Ltd Unconditional Offer www.easyscreen.com/news.html
Saw office, looks very nice. It is to be hosted by Fortis as they own the space and are sticking in their own guys too. The traders alliance have a deal with Fortis to take space and have filled a few desks already. As was suspected the space is knitted out and ready to go and Fortis are merely trying to cut out the middle man arcade owners. Start at 14p over exchange fee for Liffe and 14c over for Eurex but this will apparently reduce when the alliance volume increases just not sure what are increments. Mac's announcement certainly was interesting and aggressive, they match the alliance pricing and reduce further for those doing over 25k rt's/month. These things can only be good for us.
bullshit, jump, geneva, and other pass rates AT COST...mac is hardly the cheapest in terms of rates...and there are plenty of shops with rates btwn mac and those places, and also mac just RAISED their desk fee to 30k per year...
Really? Based on what monthly volume? Surely not across the board. I've heard of Geneva of course - but no London operation that i'm aware of. Jump has been mentioned before, but i haven't come across them - any further info - do they have UK-based offices. I'd always been under the impression that Fortis were the cheapest in London, and if Mac have now matched their pricing it seems we have a bit of healthy competition for once. TWalker - i've heard Mac's pricing is competitive with Fortis - but do you havethe actual figures? Have you heard about the desk fees being raised - surely they're going down if the TT license is > Refco Pro license.....
Basic rate is 74 euro cents eurex (was 88) for a round trip, do over 5k roundtrips and it drops to 66 and so on down to low fifties I think for best rate. Mac's biggest commission on any exchange is 12p over exchange cost dropping to 9p, 7p, 6p, 5p etc the more round trips done. Dax and eurostoxx are slightly more because the exchange charges more than bund, bobl etc Desk fee is not rising, we get TT free for two months so that's 600 odd quid removed at present and then refco pro will be free if refco buys the full stake in the software developers, at present they don't own it all and will charge 250 quid a month for the license - much less than TT. It's a good system and has come a long way in the past few weeks. I think it will end up being better than TT because us traders tell the developers what we want added and it's there the next day. Refco needed to join the price war or traders were going to walk, now they have come in low because they can undercut others due to the massive exchange volume they do. For the services provided at these new rates it's now extremely attractive I'm staying put. The office expansion is full power with Singapore opening next after Miami success, there's even talk of a Mumbai office. Refco also gives leverage equity/clipsize like no other company I've come accross