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BMI quotes for S&P cash index (SPY) are definitely out of left field this
morning. Somewhat better after the first 45 minutes but still showing single
ticks completely out of the range of preceding and following ticks. In my
experience, this is usually a problem in the way the BMI is (not) computing
the index in their own computers. Their "network" people are often clueless
until a customer watching a tick chart gives them a call - particularly
frustrating when one had to wait about 30 minutes this AM to reach tech
support. Then the response comes back, "There have been some problems on the
network side - BMI is not our strongest product - Have you considered E
Signal?" When tech support people frankly admit they are providing second
rate quotes on one of the most widely followed stock indexes in the world,
there can be little doubt that BMI is going away soon.
I have stayed with BMI satellite (TS4) because I felt it was more reliable
for intraday trading then Internet data feeds. Time to reassess -
Futuresource? CQC?
Regards,
Jim Alvis
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