I have been a user of TM/Transact since August. Since the start I have encountered the following minor problem that so far, after multiple email communication, has not been properly explained/clarified to me by TM: when I place a stoplimit order, with the stop- and limit price being the same, from time to time TM would fill the order 1 or 2 ticks beyond the limit price. Has anyone having similar problems? Last Monday I run into a more serious problem. An order I entered was cancelled - confirmed by both the TM log file and transact log file, both showing an affirmative notification of "failed order". Also the live order record did no show any fill of that order. Hours later I received a resynchronization message stating I had an open position (and loss of course) as a result of that order. Upon checking the next day with CME FirmSoft, the order fill was confirmed at exactly the same time (milliseconds) both TM and Transact's log files affirmatively confirmed its' failure (due to reason=1) and never showed an active order or open position. I immediately called TM support upon which they asked me to email them the log files for verification. During subsequent 4 days I have been calling and emailing TM , including to Jeff Garnis (managing Partner), but the only reply I got was total silence, until now - so much for their claimed "extraordinary customer service". I would gladly hear from other TM users what their experiences are because I just can't believe how unprofessional TM is in handling my issue - a complete lack of support
I've had similar problems with TM. I was trading multiple accounts and the orders were getting mixed up between the acccounts. I woul dplace an order in one account and it woul dget filled in another account. When i switched back and forth between accounts, i got that same resync message. The told me it was a glitch in the system. I had anothe rproblem where i clicked to cancel and order at the same time it was getting filled. TM showed me flat where back office had me long. TM explained with another glitch excuse. These guys don't even have there software in line and they are now going to attempt to supply the technolgy behind it?
Well at least you got a reply. In my case they don't even care to respond which is exactly the opposite of what they state in their mission staement... On another note, such reporting errors show that TM does not meet the broad CME certification criteria which states that for example any front-end trading application should properly receive and display critical information; should be capable of properly receiving order acknowledgement and fill information and not adversely impact customers
Are you sure the exchange you are placing the stoplimit order ACCEPTS stop limit orders? eCBOT doesn't accept stop limit nor stop#. You have to select just STOP form the option/application option screen. Also if you are multibracketing orders you have to have the multibrackets box selected at the same screen. Also what I have found if there is any doubt to whether or not my order is open just reboot the computer and enter Trademaven again. The only real problem I have had with trademaven is dropping the connection but that is not their fault but this bad phone line way out here in the country. I haven't had the "lack" of support that you seem to have had. Overall, satisfied.
Yes the CME does accept stoplimit orders no problem. The issue isn't whether I was sure or not an order was open but the fact that both TM and Transact gave an AFFIRMATIVE NOTIFICATION that the order was rejected. This was confirmed by the live order view that did not show any fill. My position was confirmed flat. At the time Transact routed its REJECTION to my computer, the CME filled the order. In order words, TM/Transact provided me with misinformation/flase information, making me believe that i was flat. How in the H*ll can you manage orders in such situation?? I wished the orders were pending or somethinglike that, at least then I would know soemthing was wrong.
Final word is exchange, I suppose. http://www.elitetrader.com/vb/showthread.php?s=&threadid=58695&perpage=6&pagenumber=4
Try using StrategyRunner. they have great support and their Technology is server based , not mix up in the platform. TM has nice Bells and whistles . but what really matters is the engine that drive the car not the color of it.....
Concerning Trademaven/ Transact, Ive had every major nightmare happen to me costing me a small fortune. Get rid of that setup.
Ive had SEVERAL similar situations as mentioned here and on previous threads. NO RETURN PHONE CALLS OR EMAILS. And God knows Ive sent a ton of em. Cant even get them on the phone half the time. Unacceptable service.