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At 09:02 AM 8/24/98 -0500, Mark Brown wrote:
>Electronic Trading:
I
>would really like to hear from someone who is using their service on the
>German markets to trade the bund. If there are some stateside users as
>well, how are the SP's and the Bonds?
>
>
>Mark Brown
Mark,
I believe your man is describing the Timerhill Group system. They're
pioneers in electronic trading, having set up trader-direct systems on
every electronic bourse in Europe. They're also in the US on several
exchanges, including the CME & CBOT (S&P, mini, DJ, Bonds). Yes, you do go
directly to a pit trader holding a transceiver, who then consummates a
trade using open outcry, then enters the trade in his device, to be relayed
to you. Fastest execution around. Thoroughly professional. Not part of
CUBS/TOPS (which crash frequently) but use their own proprietary network.
For totally electronic (no open outcry) mkts the fills are virtually
instantaneous. They're going retail now to the small traders for the emini.
For the large contract you need a minimum $50k acct & are seriously vetted
to be sure you are a responsible trader. Currently, I trade thru an off
floor broker who uses this system (IB for Interactive Brokerage) & I am
delighted w/ the results. Soon as I get my account up to the minimum I'm
getting my own IB. Write me privately if you're inetrested in more details
or the name of my broker. He can certainly tell you more than I can. Also,
Timberhill's web page address is www.interactivebrokers.com. Hope this helped.
Michael
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