the andover deal is weird they were bought for hammer and sungaurd does not care about the dayytrading business but money is money. the daytrading business can go bust and it can't hurt sungaurd. thats how it was setup when they were bought.
Maybe you are right about HighBid3, but everything he said is the understanding that many traders at numerous firms have.
Yeah, everyone says that Sungard ( the huge financial services company on the NYSE ) bought Andover because of Hammer. However, everyone that trades on the Hammer Platform knows that Hammer has gotten rather "long in the tooth". The charting is a joke ( from the Quotron days of the early 80s ) and there are tons of "bottlenecks" in the Cytrix-based Hammer version for the remote trader. The servers that handle Cytrix-based Hammer need upgrading in order to raise the capacity of the platform and stop these "bottlenecks and freeze-ups". Moreover, the guys that support the Cytrix-based platform are SUBCONTRACTORS and not even a part of Sungard/Assent/Andover. About two months ago a decision was made to upgrade the Servers that handle Cytrix-based Hammer. Thus far, nothing has been done, and from what I have heard from the subcontracting group that supports Cytrix-based Hammer, they basically laughed at the first offer that was made to them by Assent because it ( in their words ) "sucked so bad". Meanwhile, my phone calls and E-mails to Bill Meyer at Assent regarding my concerns with Cytrix-based Hammer have gone unanswered. It gives one the perception that Andover has become part of this huge company called Sungard and the organizational structure is so clogged-up that there is no longer any sensitivity to responding to the CONCERNS of the trader anymore. With such a lack of a commitment to supporting the Cytrix-based Hammer version that so many of us REMOTE traders use, it really makes you wonder what the goal of Assent or Sungard is. What a shame.
Hmmm These questions are rather basic for somebody who has been here since December 2002? These discussions have been done over and over and over and over on these firms as Magna can easily point out.
The main guy behind Andover was Vincent Viola, who was the Chairman of the NYMEX and sole owner of Pioneer Futures. Picozzi was the "contact person" at Andover (and the guy listed on the old Partnership agreement). There has been many claims as to the buy out numbers. I will say, however, with full confidence that I do not know the details for sure, and so won't speculate at this time. (lol) Assent is obviously one of the Biggest Firms (and to my knowledge, very well capitalized now)......I don't know if Sungard is going to continue to put money into them....and that alone probably started the rumor mill. Since I (we at BT) have been on both sides of the stupid "rumor mill"....I would hope that somene in Sungard Management would comment for the sake of the traders...or perhaps Mr. Gitto at Assent.?? Don
i thought that andover was founded by mike and not vinny. 6 years ago, everyone dealt with mike. vinny wasn't even a partner to my knowledge. or am i wrong, don? you might be more of an authority on this. but i thought vinny came around when andover started to self clear?? in any case, they'll keep lowering commissions until they can't make money and go under. i checked out one of their offices lately and its so quiet. the head trader doesn't do more than 200k shares a day! piker city i guess.
hey Stock Lover, would you like to see what is in my sock drawer as well. Is it a crime to keep my options open.
"the head trader doesn't do more than 200k shares a day! piker city i guess." That is a stupid comment. A guy in my office made well over $30,000 on friday...and he only traded 40,000 shares.