Recent content by Joe D

If you KNOW that it's horseshit and that your quotes can never be sixty seconds behind the market, then it must be so. There is no point in pursuing this discussion.

Yes - you are right that's why one set of logs isn't going to tell you squat. It really is very variable. How often? That usually depends on how much volume is being traded at any given time. But you can see from any given day's volume peaks when and where the delays are likely to have...

.... and I've never seen such vehement clinging to uninformed, untested and flawed beliefs. How do you know it's always milliseconds? It makes little difference for trading styles that do not need accurate quotes and fast execution - but if your trading style involves hitting the...

No - what I'm saying is that going from NY to Chicago directly is faster than going via Atlanta.

Yes - there are many options to fire off trades quickly, like setting up your own hot keys or using the delivered configuration etc. I've seen many of the ex-floor traders use programmable Joysticks to trade but I think that is overkill too unless you're doing a massive number of trades per day.

The software you mention above is GL/Trade. That costs $200/month. The VPN is another $200/month but option 1. allows you to BYO - T1, ISDN or whatever. Yes GCC access is included with all of the options.

Your broker's order is not routed directly to the book (the CTE, Central Trading Engine). It is routed to the SLE which serves as the gateway for ALL orders. The Interface Control Layer for GL/Trade is at the SLE level and performs the permissioning and Credit Control functions. This process...

The CME only vaildates once - it does so for trades regardless of whether they came in direct or via a broker and that validation process is the same for all trades. The journey to your broker and the validation perfomed there is 'extra'.

You just don't get it do you? Do you think the CME simply accepts your broker's validation and allows your trade to enter Globex without it clearing the trade itself ??? It goes through the very same process that my trade encounters -but my trade did not have to go to your broker's machine...

You presuppose that I accept your assumed times which have vacillated from 5 to 70 - my testing and your uninformed guesses show that you have no idea how bad the delay is at times.

Cooltrader, Yes the saving is from eliminating the middleman - the IB. That's what I meant by saying "directly through an FCM". Front running is one possiblity (I think I read that Interactive Brokers were fined recently for doing something like this). Technical problems in your...

.... and your order goes through the same server, the same process but after it's been to your broker's machine - wherever that may be.

Did you know that item #3 involves risk management control that is in the form of a clearing record that is held at the CME - NOT on my broker's machine? Your order routed via a broker goes through the same path - validates against the same Clearing record process at the CME - but it also...

Banjo, Yes - Stops are held within Globex on their own separate server. So, once transmitted, they will be there. CoolTrader, The cost savings come as a result of clearing directly through an FCM. This is the case regardless of whether you use the CME’s direct access or not. But...

You're just making assumptions again. As I said before, you clearly haven't tested these different platforms side by side so you really don't know whether there is any difference or delay do you? It's none of the above - it's GL/Trade. Yes, it is a front end platform that obviously performs...