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> Joe,
>
> Would you elaborate further on PATS?
>
> eMini Commissions, interface/ease of use, speed, quality of fills,
support,
> whatever else...
>
> Thanks!
>
> Eliot
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PATS is a European software maker. The interface is independant, and can be
used with several brokerage firms that support it. By mid 2001 it should
also be available integrated as an option into the CQG quote system.
The quote feed to PATS comes right from the exchanges and is ahead of any
feed I have seen yet. To hit a bid or pay an offer you simply move your
cursor over the bid size or ask size and click it. A confirm window comes
up, you click ok. A fill is there within nano seconds.
To use a limit order you move your cursor over the bid price or ask price. A
drop down menu of prices then pops up, you choose your price. Click to
confirm, and your done. It is entirely point and click and very fast to get
around.
Its not real slick in terms of presentation, like say PFG BestDirect is, but
you get over that in a couple days. Its fast and simple.
The downside is it leases for $350 to $400 a month depending on which
brokerage firm you trade through. Initially I balked at paying for a simple
trading interface I had been getting for free, but after using it for a a
couple weeks I could see it was really a bargain. You pay bro on top of
that, again dependant on where you trade. I don't know if the brokerage
firms takes a slice of the $350, but my bro is relatively cheap.... under $6
r/t. Thats a couple dollars less then I paid at PFG.
Support from GNI has thus far been responsive on my one occasion to contct
them. I sent an e-mail to the sales manager in London England with a couple
suggestions.Within a hours I had a more then adequately detailed reply back.
Support in terms of non software related issues, is dependant on the broker
you use.
Overall I like it, and think it worth the money. On the other hand I see
that eventually someone like PFG has got to get the bugs out, and then PATS
could look like an expensive white elephant.
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