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As I've said on this list before, BestDirect has has e-mini SP and NDX fills
on my screen within 2-3 seconds after I hit the send button. They use (and
maybe the only company now using) the FIX API. Their phone support/backup
is excellent. As a third alternative, I can go thru one of their regular
brokers as well.
----- Original Message -----
From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
To: <I4Lothian@xxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Friday, June 23, 2000 4:47 PM
Subject: RE: e-mini
> John -
> for e-mini, I have Alaron, Field Financial, Jack Carl, and PFGBest under
> consideration....
> all very competitive. I dropped Interactive from the list....too barebones
> for me.
>
> Question is: order routing systems.....does it make much difference as far
> as fill performance ?
>
> Is the FIX API using newer technology or what ? Is TOPS going to become
> passe ?
>
> If the difference is 30 seconds or more, it could be significant.
>
> > -----Original Message-----
> > From: I4Lothian@xxxxxxx [mailto:I4Lothian@xxxxxxx]
> > Sent: Thursday, June 22, 2000 6:37 PM
> > To: editorial@xxxxxxxxxxxxx; howdy@xxxxxx
> > Cc: omega-list@xxxxxxxxxx
> > Subject: Re: e-mini
> >
> >
> > In a message dated 6/22/00 5:08:38 PM Central Daylight Time,
> > editorial@xxxxxxxxxxxxx writes:
> >
> > << PFG is currently doing 60% of the daily volume in the e-mini
> > through their
> > "BEST Direct" system.
> >
> > www.pfgbest.com >>
> >
> > **** I believe that you will find that is a faulty or incomplete
> > statistic.
> > Best Direct is the largest user of the FIX API, which no other firm is
> > currently routing a majority of their Globex2 orders through.
> >
> > **** I believe the largest vendor system by volume for all e-mini
> > trading is
> > Interactive Brokers, who access Globex2 by the FI ( Frontal Interface).
> >
> > **** There are many firms which are still accessing Globex2 by the TOPS
> > gateway. There was a meeting of 19 firms at the CME last week about
> > transition to the FIX API. Best's percentages will go down once
> > more firms
> > switch to the FIX API. At this point most of the other volume
> > through the
> > FIX is firms in the Development and Quality Assurance stage.
> >
> > **** I have seen this faulty statistic enough from other sources,
> > that I am
> > beginning to get suspicious about its persistence.
> >
> > Regards,
> >
> > John J. Lothian
> >
> > Disclosure: Futures trading involves financial risk, lots of it!
> >
> > Disclosure: John J. Lothian is the President of the Electronic Trading
> > Division of The Price Futures Group, Inc., an Introducing Broker.
> >
>
>
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