TransAct /TM users - did u notice...!!!

Discussion in 'Retail Brokers' started by adamcholeva, Dec 28, 2005.

  1. first off, all other things equal and a clearly noticeable run of unfortunate incidents the last month, I've on the whole been a happy camper with my Transact account / trademaven front-end solution. Love the TM platform, and really no issues with Transact to speak off.

    Therefor the announcement about 2 weeks ago concerning Trademaven's merger with eLocal (or whatever the constellation is) made me suspect that Trademaven was going to phase out their co-operation with other brokers. I was sent an email assuring me of the opposite, but after replying with a mail outlining my suspicion of TM only keeping up this as a phasing out thing, the rep. from Transact didn't sound so convincing. You could say he didn't alleviate my fears as he didn't come right out saying that the TransAct / TM cooperation was an established affair. But, well, he didn't say the opposite either.

    Well back then, and for all I know until yesterday, max a week , TransAct still advertised with big typing on their home-page of their site that they offered Trademaven as an alternative front-end to their own.

    For some reason I just frequented their site mins. ago, and their otherwise bold advertisement on their home-page of their site of clients being able to use Trademaven as a front-end has now been pulled. Not a word there, and as far as I can tell, nowhere else on their site either. Doesn't make me feel too sure of TM still keeping up their support for TransAct.

    Comments from anyone with any insight would be great.

    happy holidays, ac
     
  2. This is a direct quote from a guy who I know who is tight with the big dogs at TM.



    "Trademaven is demanding all its clients to switch to another clearing firm (with only about $7,000,000 in client equity) if they want to use TradeMaven after the next three or four months."
     
  3. amiindew

    amiindew

    I noticed the same thing; Transact already pulled down their TM offer in the week before Christmas. My broker informed me that they stop with TM by Jan.11

    However, if you want to sign up for TM now as a a newbie, you have to open an account with Transact acting as the FMC and Datafeeder
     
  4. GOOD LUCK !!!!!!!!!!!1
     
  5. Xenia

    Xenia

    "All its clients" means clients with accounts that clear thru RCG ?

    And the other clearing firm is who ? TransAct Futures ?
     
  6. Xenia

    Xenia

    I think this means that ...

    - TransAct provides server for data&transaction and is FCM.

    - TMG provides TradeMaven software and is exclusive I.B. for TransAct.
     
  7. Truff

    Truff

    This is whats really going on. Trademaven is now a broker(elocal). if you want to use TM you must trade through them direct. l The problem is that TM only worked well on data feed provide by Transact. they are the backbone behind whay makes TM so reliable. TM-elocal will not be using this technology. TM without transact will just be another unreliable run of the mill platform. TM run on anything else besides transact has been terrible. Transact is comming out with a new platform that makes TM look like a toy. It will be priced the same as TM and will have the same reliabiltiy that TM had while using transact technolgy.
     
  8. Lorenzo

    Lorenzo

    Truff,

    When you are talking about the coming new Transact platform, do you mean that we 'll have charts and trading from charts features? ..and the timeline for this?

    Actually Trade Maven is awesome! with 3 days back data and features like Volume bars, Tick bars, Range Bars...a wonderful series of indicators....it seems unbeatable

    TIA

    Lorenzo
     
  9. Truff

    Truff

    Yes that is correct. I have seen the charts, they blow away TM. I haven't seen the exection part yet but should soon. Timetable ive been told is any day now.
     
  10. amiindew

    amiindew

    Truff,

    Then what happens to all those people that sign up for TM through their website and open an account with Transact? Within a week or so they all have to switch again? For how much longer will Transact continue to provide data feed to TM?
     
    #10     Dec 29, 2005