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Hi Robert,
I'm a broker for LFG, through Trade Center. I use the LEO software and
execute about 100 trades a day ( when its working).
When you place your trades via LEO the orders hit the floor in about 2
seconds. They go to a broker in the middle of the pit who has a CUBS
terminal...CUBS terminals are like electronic broker "decks" and your order is
executed immedietly. The order is endorsed and sent directly back to
you....generally in about a minute ( sometimes faster, sometimes
slower...depending on market conditions). The system works great when CUBS is
up. When CUBS goes down is when theres trouble. The orders are routed to TOPS
terminals at the edge of the pit and spit out on a printer. It takes forever
to get a fill back and execution can be very poor. Thats when it pays to have
a backup system and a good broker. I use a couple "give up" brokers that do a
great job, and if it werent for the convenience of online trading, I would use
them all the time.
I can set you up in "test" mode with the software to see if its for you and
would be glad to send you more information on our company and services. If you
have interest email me back or give me a call at 800.894.8194.
Shane Wisdom
Trade Center, Inc.
Robert W Cummings wrote:
> I missed a trade today in the S&P having direct floor access going at the
> ask of 50 points and still due to human error from the floor missed the
> trade. Market was quiet was not in a fast market and the order should have
> by all standards been filled. So I am looking at getting away from humans
> and would like some feed back on Leo. Anybody out there using Leo order
> entry for the S&P and if so can you really get 5 second fills using ISDN as
> their demo software suggest. I've seen posts on this before but thought I
> had that beat until lately. Also I was talking to a FCM today and he said
> the seat prices at the merc and board were down over two thirds from two
> years ago due to electronic trading and the merc was around 925,000 then
> today around 250,000.
>
> Robert
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