this has caused a huge fall-out at mac/rts. there could be a mass exodus. bit harsh since all they are doing is standing up to the tt bully. By the sound of it the Refco Pro system is a pile of toss. It's the last thing both management and the traders needed due to all the problems that have been going on there recently.
My understanding is the patent also covers single-input execution from that screen. So if you use a DoM type screen, you have to have some sort of confirmation input. In other words, a mouse click and a keystroke. The court already said double-clicking was a single command and thus not a work-around.
I'm an RTS trader in Chicago. I'll give big props to RTS for standing up to TT. However, I'm definitely not a fan of Refco Pro. From what I saw today, it's not up to the TT standards. If it were better, wouldn't RTS have been having us use this all along, and bill it to us instead of having us buy from an outside vendor? As for this whole affair being the last thing we need right now, that hits the nail right on the head. It's quickly gone from 3-ring to 4-ring circus.
I agree with you, it couldn't come at a worse time. Hopefully the CFTC will look into this and see that it is anti-competative action by TT and give the whole patent thing the elbow. It seems to me a very sorry state of affairs that this behavior by TT, that is nothing short of parasitic, has come to this.
i dont use either refco pro or tt. however, i do know people who have rated refco pro over tt. all down to personal bias. refco brokerage also use refco pro internally - so it cant be that bad. (???) id approach it with an open mind. why do rts use tt over refco pro?? well tt is the industry standard, so everyone installs it by default. if you want to attract traders to your services, you aint going to offer some quirky platform no one knows (feels confident with). reminds me of the pc/microsoft v apple mac or the vhs v betamax video format. often the best technology isnt the market leader. the market leader is always the company that spends most on sales & marketing - little to do with the technology. ibm figured this out decades ago. id take a look at refco pro and accept that there may be a learning curve here while you get used to it. i bet after a few weeks you'll wonder why you ever bothered with tt.
shut up you BS spreading dipstick, refco does NOT use TT internally, werent you the same idiot that was running your mouth in the institutional trader thread making a fool of yourself?
hey brains - i never said they did! read the post again and you will see that you are jumping to the wrong conclusions (again) good luck - cos it seems you need it!! (better go back to studying lbr stuff eh hot shot)
Spent a couple of hours on the Refco Pro today - it's not that bad once you have a little play. Sure there are problems (the main one being that it's hard to see the volume trading at market - eg with tt you get a bright green 1000 if a thousand trades up where as on Refco Pro you get the price/volume traded) for example 120.78/1000 is how 1000 traded at 120.78 would show up. Good luck reading that over non farms. It will improve i'm sure but in an ideal world we'd like to stay on TT but there's little chance of this. For the record I think Brumfield is a C**T but I guess he's a C**T with nerve! "We do what Americans do best.......we sue the bastards"
âWe are very happy to receive this European patent, which further validates the originality of MD Trader. Europe has been a significant growth driver for us through the years, and we will continue to deliver innovation to this vibrant marketplace,â said Harris Brumfield, TTâs CEO. Get bent.....