I think I speak for all of your customers in asking why weren't these issues resolved before you decided to ditch CT. Surely that would have been the obvious way to handle such a transition. Leaving your loyal customers in limbo for months is crazy. Even if everything turns out fine, we will have a bad taste in our mouths. I hate to be argumentative, but if you really wanted to do everything possible to make SSPRO as similar as possible to CTPro you would just do what has been suggested here, namely just continue to use CTPro. The question we have is why would you want to throw away what many of us consider the premier trading platform? I didn't think this was going to be a big deal at first, but the longer it goes, the more pessimistic I get.
CyberTrader Rep, Could you address the topic of order routing? There are significant differences between CT's offerings & Schwab's SS Pro order routings. Will Schwab's routings be upgraded to that of CT's? Thank You again for coming here to address our questions. PS: Everyone please be respectful to the CyberTrader Rep who has come on here. A businesslike discussion will be much more productive for everyone. Discussing this as a group is terrific if we keep it as such because one person may say something that triggers someone else's thoughts.
Hello CyberTrader Rep, thanks for being here... I've been with CyberTrader for seven years and my account isn't small potatoes. I am a systems trader of equities and I chose CyberTrader primarily because of it's excellent software API. CyberTrader Pro is known in the active trading community as perhaps the best all around trading platform, and it is a colossal mistake to scrap it in favor of a slower dumbed down SS Pro. It would have been wiser to stick with CyberTrader and to keep it's name. CT is a way better platform and the StreetSmartPro name rolls of the tongue like dog dung (sorry). Here is a list of my requirements that may be missing from SS Pro: 1. No software API support 2. No Primary Peg orders 3. No Max Floor / Reserve Shares 4. Can't short thru ECNs 5. No notification of short share availability 6. Can't cancel orders from trading window 7. No combined level II book with INET, ARCA, NAS, NYSE, etc. 8. Smart routing is much slower 9. Limited hours on orders placed in Pre and Post Market 10. Can't set hot keys for different order types 11. No Emini charting Please let me know if I'm wrong about any of these, and if there is any reason I should not switch brokers. I need to know soon, since it will require a massive amount of work to rewrite my trading program. I just found out Friday about this problem, and I already have most of my application done at IB. But I would MUCH prefer to stick with CyberTrader. I spoke with Travis Todd at Schwab Friday who is well versed on this issue. I told him I thought they'd lose 50% of the CyberTrader accounts and 80% of the commissions. He said he didn't disagree. Yikes, if Schwab is so big they don't care about that then please keep it! Don't throw away the best platform in the business. I'd even be willing to pay more in commissions!
I mean no disrespect for CyberTrader Rep. CT's customer support is the best in the business, and the rep's are uniformly helpful and polite. I don't envy them having to explain this to customers. If the Schwab exec's who are running this had any brains, they'd be on here explaining themselves.
To me this would seem to be a straightforward process. Many specific questions have been listed, and the Cyber rep. could answer all of these, but no specific answers have been given. This kind of reminds me of a classic politician's response: generalized statements but no details about how the plan will be accomplished. Last year Cybertrader held a client conference which I attended. It was a great event and well planned. The company was very interested in improving its product and the employees of Cybertrader were first-rate. The fellow customers were similarly detailed oriented. For the most part, Cybertrader has had excellent customer service. Based upon my experience with Cybertrader, this announcement with its vagueries is very surprising. I have called (more than once) and asked about specifics, but have only been promised that information will come out by the end of the year. However, uncertainty will equate to moving of accounts. Hopefully, Cybertrader will soon step up to the plate and give details so we can all make an informed decision.
It's pretty clear that this is a Schwab initiative. We know the people at CT are not this dumb. As for the failure of the CT rep to provide more details, my guess is they simply don't have them.
Well I got confirmation from a Cyber Rep that the Hammer and Dynamic ticker tools are definately getting eliminated. He did'nt sound to enthused about many other things being saved either. This is not looking good or sounding good from what I heard. Oh well. Good Job Schwab at totally screwing up a great service! Good by Cyber/Schwab and hello IB or TS. P.S. Don't be mad at the original Cyber employees. I am sure if it was up to them they would'nt go with this sabotaging of their platform.
I don't understand why they will eliminate features that are already coded and in the platform. Is there that much cost saving in reducing the server load?