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Good to hear from you again Mark...er Alan - haven't seen a posting from you
in a while.
-----Original Message-----
From: Alan Savant <the_savant@xxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: June 4, 1998 4:51 PM
Subject: The most significant event since man walked on the Moon!!!!!
>The most significant event since man walked on the Moon!!!!!
>
>
>We are pleased to announce that following several weeks of negotiation
>we have signed an agreement with MarketStream, Inc. that makes it
>possible to interface TradeLab to the Universal Market Data Server
>(UMDS) and supply a bundled package.
>
>You will like the price, because a version of the server that can be
>used only with TradeLab will be supplied free to any TradeLab licensee
>who wants it. MarketStream has a multi-user version available for a
>reasonable fee for those who want to use a single server with TradeLab
>and other compatible products like Bay Option's Option Simulator, Essex
>Trading Company's Option Pro, MarketSoft Research's Tradewind,
>MicroForce's Market Detective, MicroStar's Top Step Programs, or Windows
>On Wallstreet DayTrader.
>
>The multi-user server version has other advantages. The license fee
>includes user technical support (technical support will not be provided
>for the free version) and access to tick and daily historic data via the
>Internet whenever you have a computer, datafeed, or power failure. You
>will be able to upgrade from the free to the multi-user version without
>losing any data you have collected with the free version.
>
>Though the single user version will be free, there will be a $100
>UMDS-to-TradeLab interface module charge. That fee will offset the
>significant costof writing an interface between the products.
>
>The interface has to be much different than the interface used with the
>Omega Server, because the product designs have almost nothing in common.
>The UMDS uses much more efficient interfacing that makes it possible to
>access near-term tick data almost instantly. All the data received in a
>day for all markets is kept in memory, so it can be read without need
>for disk access. That makes it practical to repeatedly scan thousands
>of symbols in real time for price breakouts, high volume transactions,
>or other things.
>It also greatly reduces the risk of losing incoming data during server
>data accesses.
>
>There is another important difference. Omega Servers build 5-minute
>data files for each symbol during the night. Those files are used to
>create price bar data for all five-minute interval multiples. If a user
>wants a 15 -minute bar chart, the Omega Server makes each 15-minute bar
>from three 5- minute bars. If a user wants 30-minute bars, each
>30-minute bar is made from six five minute bars, etc.
>
>The UMDS doesn't create five minute bars. It saves tick data and daily
>data. Charting programs have to create the intraday bar data users want
>from raw tick data. That slows charting somewhat where users want bars
>with intervals that are integral multiples of five minutes, but it
>avoids a wide range of practical problems.
>
>If you edit a bad tick in the Omega Server, the associated five minute
>bar data has to be updated before the change will be seen in charts that
>have bars that are integral multiples of five minutes. Furthermore, if
>a user wants to fix a bad price seen in a five minute bar chart, editing
>the data being charted would not fix the tick database, it only would
>fix the five-minute bar data.
>
>There are some speed advantages to the five-minute bar data method, but
>there are many practical problems with it. There are a variety of ways
>for automatic processes to go wrong, leaving users with daily,
>five-minute bar, and tick data that doesn't match and with no good way
>to know which is right.
>
>We like the UMDS method better. We think on balance it is the better
>approach. However, our interface will have to perform some of the
>functions performed by an Omega Server, which is one of the reasons we
>will have to charge a small interface module fee.
>
>Not only will we have to write an interface with those capabilities, but
>MarketStream also is having to add some capabilities to the UMDS to make
>it suitable to our needs. Kent Gryzich at MarketStream estimates those
>additions will take about 30 days. Their current server is Version 2.
>The new version with the TradeLab accommodations will be Version 3.
>
>One of those accommodations is the ability to import data into the
>server. That will enable us to write a routine that will automatically
>copy all the data from an Omega Server to a UMDS in a single operation,
>so users can get all their Omega Server data over into TradeLab
>painlessly. It also will make it possible to get file data from
>end-of-day services into the server, so the server can function as a
>central repository for data from all sources.
>
>We already have started development of the UMDS-to-TradeLab interface.
>It should be ready for testing by the time Version 3 of the UMDS is
>released.
>
> -Bob Brickey
> Scientific Approaches
> sci@xxxxxxxxxx
>
>
>
>
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