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[RT] Updated PATS System JTrader Demo



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Patsystems today released the updated demo version of their JTrader trading 
platform that my firm and several other brokerage firms offer.  I have 
uploaded a copy of the demo to the web site of my online trading operation (
www.pricegroupetd.com) for those 
interested.  This is not a solicitation to open an account, but rather an 
offer to take a look at the latest in trading software offered by several 
different brokerage firms from the U.K. based PATS Systems.

I am not sure when I will have the production version up and running, but it 
could be almost any time.  Other firms using PATS should also have the latest 
version available soon too, though they may market it under a different name.

The new functionality added to JTrader includes things called DOME, MEL, and 
PIG as well as OCOs and parked orders and many others.  Some are explained 
below.

DOME.  Depth of Market Executor Screen.  It features:
Both automated and manual market making facilities 
Fast single-click trading 
Fast single-click cancel 
Market Depth, Status, Hot Quote and Position Screen rolled into a single 
screen for any number of contracts 
Graphical and numerical audit trail of last traded prices

MEL.  Multi Exchange Legger.  Basically a way to execute electronic spreads. 
Its functions include:
Create any desired strategy, in any ratio, across any number of exchanges 
The strategy can have any number of legs that the user defines 
The strategy legs can be any combination of stocks, options and futures.  (if 
applicable). 
Any number of user-defined strategies can be created and traded
Add a stock trading screen for single stock futures in Europe, a spread 
matrix screen and the increased customization functionality, and PATS has a 
product to meet many traders needs. 

Other functionality includes:

Keyboard trading functionality
User customized interface:
User defined fonts
User defined colors
User defined pre-trade quantity controls (fat finger prevention and price 
reasonability checks).
User defined sounds
User defined screen layout
User defined input commissions

The Hot Quote Screen includes:
User defined trading window
Single and double click trading
View and trade all main markets
Graphically interfaced market depth and last traded prices
Implied Price view function
Real time "tick" charting direct from exchange matching engines
Automatic execution and pricing of user defined MEL strategies.

The Position screen includes:
Real-time P&L
Real-time position management
Full trade history
Commission deducted automatically from P&L
View P&L and positions for many accounts, in real time, from the same window.

The Order Book includes:
Color coded buys/sells
Working and filled order books
Sophisticated order filter and sort system
Amend, Pull, Query, and Print functionality
Single click cancel
Orders can be shared across multiple users

JTrader also features stops and stop limits sent to exchange servers (where 
supported) as well as held stops, stop limits and MIT orders held locally on 
the trader's computer.

There is a user guide on the Price Group Electronic Trading Division web site 
for the previous version of JTrader.  Thus, you will have to play with the 
new functionality to understand how to use it.  I will upload the new user 
guide as soon as I get it.

Regards,

John J. Lothian

Disclosure: Futures trading involves financial risk, lots of it!  John J. 
Lothian is the President of the Electronic Trading Division of The Price 
Futures Group, Inc., an Introducing Broker clearing Man Financial Inc.

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