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Joe,
Perhaps I'm not as demanding, but for my purpose of trading e-mini with
average trade length of 7 min, 2 free systems I'm familiar with meet my
requirements for market orders from the view point of speed:
- PMBe, browser based, one click execution "buy" or "sell" - fills in ~5
sec.
Unfortunately, reliability's been a serious problem.
- iFutures, not browser based, one click execution "confirmed" after "buy"
or
"sell" order tablet is prepared - fills in ~5 sec.
Reliable system.
Jan Philipp
----- Original Message -----
From: Joe Duffy <joeduffy@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Tuesday, November 07, 2000 2:27 PM
Subject: Re: [RT] FUTURES BROKER
> I guess it depends on what you want from a on line futures broker. If its
to
> trade e-minis tho, I have some thoughts on things that I have found
> important in my experience.
>
> 1. Order Entry Speed--- This is the time it takes to enter the order and
the
> time it takes to get the fill back. Entering orders in my experience
should
> be entirely point and click. If you have to type numbers you waste time,
and
> risk "fat finger" errors.
>
> 2. Execution Speed ----Once you hit the send key the order should hit
Globex
> within a second, and fills back within seconds of that. Which leads to the
> next point...
>
> 3. Direct Access to Globex--- To get 1 and 2 above you need DIRECT ACCESS.
> If your going thru a routing system, or any system with human
intervention,
> its not going to work in my experience. Markets just move way too fast.
>
>
> I have not yet found have not yet found a system that delivers this for
free
> yet. Probably the closet is PFG best direct. But they have had some
software
> issues. When right though they are good.
>
> If you really want a FAST execution system with streaming quotes and nano
> second order entry and fills, have a look at the PATS system. It is an
> independant piece of software that you lease, but it is pretty good
compared
> to the run of the mill stuff. I believe several brokerage firms offer it.
>
>
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
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