trading technologies x_trader

Discussion in 'Index Futures' started by chisox, Jun 1, 2002.

  1. chisox

    chisox Guest

    does anyone know what their rates/rate schedule looks like?
    thanks in advance :)
     
  2. machine

    machine

    I was looking at their website yesterday and came to conclusion that they sell programs to brokers. Couldn't find those brokers that use X-trader though.
     
  3. bone

    bone ET Sponsor

    I've been using TT for three years. Count on spending between $800 - 1800 per month JUST FOR YOUR WORKSTATION SOFTWARE depending on how many exchanges you're hooked up to and how many people in your office are using it. There is also some mid-ware and risk management software. Most groups also hire Tekom for connectivity and server support. They work very closely with Eurex, CBOT, and the Merc.
     
  4. tntneo

    tntneo Moderator

    funny enough, I kind of remember IB is offering routing to x_trader (there was a press release half a year ago).
    anyway, xtrader is for institutions/brokers/funds which explains the large desk fees involved.

    tntneo
     
  5. chisox

    chisox Guest

    thanks guys, Im thinking about giving it a shot, tired of watching mm's sit on stocks every time futures break out.

    how about IB for eminis? sounds like trading technologies is expensive.
     
  6. bone

    bone ET Sponsor

    Trading Technologies is the cat's ass, no question. There is also Easy Screen, GL Trader, and a few others. I am not a brokerage, but an independent trader who does alot of volume.

    TT and these other front-ends are not clearing firms or brokerages. They provide larger traders and institutional customers with DIRECT connectivity to electronic exchange order matching engines.

    Stay with IB, hone your skills, and build capital. At some point in time, you will require something different. You will not have to pay $2.50 a turn. You will be able to dictate your price. Banks, not brokers, will do your beckon call. More like 65 cents a turn, including all exchange and banking fees.

    I pay a small fraction of the commissions you pay, and will cut a clearing firm for 10 cents. I cannot afford to provide two or three different give-ups and order routings on the way to my position. I clear Fimat, ABN-Amro, and REFCO directly.
     
  7. Do you see value in using TT over IB TWS if you are a simple directional trader? Or does the value come in when trading multiple mkts/spreads arbing etc? It does look like a slick pkg.
     
  8. bone

    bone ET Sponsor

    The answers to your questions are either yes, no, and maybe.

    A big trader or fund will not go through any more routes than he has to; electronically or otherwise. The reasons are speed, excessive vig, and front-running.
     
  9. this seems silly if you are trading futures there is not going to be any differecnce between Trading Technologies, Patsystems, GL and IB.
    They are all connected directly to the exchange
    In fact even if you have a Globex terminal its not going to make a tad bit of difference to your trading.

    Fine TT service institutions but pats and IB were purely servicing institutions only until very recently. GL have been concentrating on institutions who own their memberships. TT are simply WAY behind the curve in terms of getting screens out there currently these guys are the also-rans. TT are an ISV- an independent software vendor - a software company - existing because most banks can't get their act together and produce their own system.

    The speed difference comes from how fast you think and how fast you can set-up and place your order. I've used a few of the exchange systems - and you will be surprised that order set-up and entry is usually pathetic, and not as simple as a one key/mouse click.
     
    #10     Jun 2, 2002