Cost saving I guess? They are gone though. They are not using the Cyber Pro platform anymore after the switch. They said they are coding what they can into the SSP platform. I could'nt get a firm yes on the Cyberquant screeners, but I was getting the implication that is a goner too. Plus no futures data. I don't know to many "Traders" that don't follow the futures. Typical Big wigs that don't know their head from their arses! I can't wait to see what the results of loss capital will be after the Cyber clients flee.
I understand when bad company go out of business but company like cyber best of the best in industry I don't get it.
No Cyber Quant or whatever they call it now? That is a very important feature. We will all end up trading the OIH and the ES, CL and currencies. Stcoks are beginning to be more trouble than they are worth.
I read an article on Schwab yesterday, forget whether it was on Realmoney orTheStreet.com or Marketwatch. Schwab is making a big play to get the independent financial advisor business. For a lot of people, these advisors are an alternative to the traditional wirehouse stock broker. Schwab already has billions in deposits from them. I have no idea how big CT is in comparision, but I would have to think it is a rounding error. I wonder if the Schwab brass maybe are a little embarrassed to be running a day trading shop and think that CT taints them when pitching for advisor business. If so, I wish they would find some PE guys who would buy CT rather than just ruin it.
One other thing. Why does Schwab spend so much money as a sponsor here but then they ruin all the good will they earned by basically ignoring us? Would it be so hard to have someone to post on here regularly, given the circumstances? I know whenever there has been an issue with IB or ESig, they have their people all over ET dealing with it. Senior people too, not some customer service rep. If you were a marketing VP at Schwab, wouldn't you leap at the chance to have some back and forth with your best customers? I don't get it.
I have decided to open an account each with IB and MB Trading. Once I started really looking around, the availability of trading stocks, futures and options from a single account was the deciding factor. Plus, I like the option of being able to use different third party vendors for trading. I am keeping my Cybertrader account open on the hope that the old guard will return, but it is probably just wishful thinking.
The biggest concern is ORDER ROUTING. Do you know that with SS Pro, the Schwab Pre-Market ends at 9:15AM & the Schwab Post-Market starts at 4:15PM? CyberXChange routing is a MUST for true trading. If that is gone, so is the ability to trade quickly. I posted links to the routing disclosures for schwab & cyber that are on each of their respective sites. Schwab dumps orders to UBSS. That's not trading, and that's not "Smart" routing for traders, that's dumb trading. No better than a scottrade or the like. Look where Schwab sends the orders. http://www.schwab.com/public/schwab...es/order_routing_execution/order_routing.html Now see what Cybertrader does with your orders. http://www.cybertrader.com/Content/Disclaimers/RoutingReport.aspx Read this link from SCHWAB. http://www.schwab.com/public/schwab...l_compliance&refid=P-1040901&refpid=P-1028624 This issue needs to be front & center when talking with the cyber & schwab reps. Even if the software is made 100% compatible, are you satisifed with your trades going into a UBSS queue? That's unacceptable for me. If it's unacceptable to you, PLEASE let them know.
i think it is so telling that 99.9% of schwab orders are not directed, and almost half of them are market orders. Compaired to only 41.6% not directed on cybertrader, and less than 1% market orders. Maybe schwab figures cybertrader users will all start placing non directed market orders once the switch is made. i'm sure it looks so profitable on paper and all they have to do is keep saying, "it could happen"