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First American does the same thing - orders go to the broker then to the
pits -seems to defeat the purpose of electronic trading.
When I asked why not go directly to the pits , I was told "what would our
brokers do?" - (how about helping traders that need assistance and let
experienced traders orders go to the pits)
Steve
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, July 23, 1998 5:16 PM
Subject: Re: Discount Brokers
>I took a hard look at JC's system and was not impressed. When I relayed my
>disappointment to the system developer, they said it was an early version
and
>would eventually get better. I'm not aware of any significant improvements
>released since I looked at it several months ago. It is my understanding
that
>the JC system does nothing more than route your order to a desk where it is
then
>called into the pit and the fills are then entered into the computer and
sent
>back to you. It was my opinion that it would be faster to call the broker
desk
>direct so I never used it. Unlike LEO it is not connected to CUBS/TOPS
which
>communicates directly with hand-held terminals in some CME/CBOT pits. From
what
>I can tell, although not perfect, there is nothing better in the industry
today
>than LFG's LEO and I'm in the process of transferring my account to an LFG
>broker - there are many LFG brokers from which to choose. Some are wholly
owned
>by LFG while others are independent Introducing Brokers.
>
>Earl
>
>-----Original Message-----
>From: TraderJR@xxxxxxx <TraderJR@xxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Thursday, July 23, 1998 3:40 PM
>Subject: RE: Discount Brokers
>
>
>>Does any realtraders have any thoughts on a preference of discount
brokers.. I
>>am interested in trading electronicaly, to avoid.. the "hot tip"
syndrome.. I
>>think the electronic trading is the best yet..it helps to allow
unemotional
>>decisions, which i think is THE way to trade.. I am looking at Jack Carl
or
>>First American.. any thoughts or experiences will be appreciated
>>Jerry
>
>
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