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hans esser wrote:
> >and as I used a TIMBER HILL / INTERACTIVE TRADER WORKSTATION for some 6
> >months in 96/97 and I was VERY happy to RETURN it, as I was unable to
> >handle all the problems this thing created at the time, I dont think
> >PMB can be very different and for me.....
> >
> >rgds hans
>
> Hans:
>
> I, and I believe many other list members, am very interested in
> electronic trading (although I currently use a phone broker
> exclusively). Would you mind briefly describing the problems you had
> with the Timberhill system?
>
> Allan
Allan, briefly is not possible :-)))
I used an INTERACTIVE TRADER WORKSTATION from TIMBER HILL, which
at the time was on a seperate, supplied UNIX workstation, 96/97 for some 6
months, which was connected via a leased phone line to their frankfurt
office and into their network there.
Traded (tried to <g>) S&P, Bund, DAX, FTSE, Tbonds - minis werent
available at the time.
Problems were e.g.:
- 10 days in a row not being able to connect for the first hour of the day,
spending ages on the phone to their tech support - good start for the day
- getting DUPE fills on orders
(and spending ages on the phone far distance calls to their tech supprt to
try to find out whats happening, costing money and time and nerves -
during that time not being able to trade and act as uncertain about what
position)
- getting NO fills due to various tech problems
(and spending ages on the phone far distance calls to their tech supprt to
try to find out whats happening, costing money and time and nerves -
during that time not being able to trade and act as uncertain about what
position)
- getting fills on limits which were 2bps away from the market - and as Im
tooo honest not taking the fills but questioning them...... (and spending ages
on the phone far distance calls to their tech supprt to try to find out
whats happening, costing money and time and nerves - during that time not
being able to trade and act as uncertain about what position)
- not been able to change or cancel orders as HAND HELD UNITS they use
in the (S&P) pits ran low on batteries as they FORGOT to change them..
.....WAHHH.. .can you believe your P/L is clocking up and down (on old $500
S&P contracts) as they forgot few $$$ BATTERIES <g>.....and you only realize
that when you try to hit the button (and spending ages on the phone far distance
calls to their tech supprt to try to find out whats happening, costing money and
time and nerves - during that time not being able to trade and act as uncertain
about what position)
On top of all tech problems the fills in S&P were often "strange" - buying into
rallies often got HIGH fills - selling into rallies often got LOW fills...and more.
overall - no good.......
....next I tried LIND ONLINE, which actually is not that bad (on S&P and minis),
looks old-DOS-clonker-like, but is JAVA and quite good - still: problems overall
....and just for the ability to enter STOPS for MINIS went to LFG - their
problems are well known to this list in last days
.....as said by PMB: ***yes we use the timber hill network to fill our
orders***......doesnt look to be an alternative to me.......
bottom line - NOTHING can be trusted and especialy not in this market, where
you maybe 1000$īs away in minutes.......
rgds hans
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