EchoTrade Reliability

sdtrader · Oct 1, 2003

Was I just being defensive? If so, I am sorry...guess I was reading your posts wrong. I don't necessarily have an axe to grind with that person from VB, I just don't like to see what he "seems" to be doing to Echo. He personally treated one of my good friends very poorly and I just don't think much of him and hope he doesn't take Jeff and Rob down with him. But then again, they are big boys and I am sure they can take care of themselves. Next time I will fight my urge to post on one of these threads a little harder.

lescor · Oct 1, 2003

Quote from C Robinson, 05-21-03 07:54 AM:

i have heard very good things about hammer but it has come from a high percentage of nasdaq traders. the way i trade and have echopro set up i guarantee i will pick off a listed ecn before 90% of hammer guys know there was a trade to be made.

Now this, by far- by a mile and a half, is the funniest post on ET this year. I saved it becuase it's such a good chuckle.

Seriously man, you are so wrong on this it's embarassing. Did you know there are ecn's out there besides ARCA and ISLD, the only ones you guys can see?

And what makes you think Hammer is a mouseless platform? A mouse works fine if you like the point and click thing.

Stock_Lover · Oct 1, 2003

Quote from bro59:

Normally I would ignore this, but I won't be subject to a cheerleader with a bias minimizing valid concerns. Uptik and myself have provided Echo with plenty of positive press on these boards, both through posts and private messages to prospective traders. If we say there are concerns, don't come in and minimize that from the perspective of an office manager or Class A member please.

If you have "never had any problems with it" then you've skipped the days with bad data, because as I understand it the Predator software is dependent on the Hyperfeed feed. I'm willing to forego opportunity cost related to this downtime, but am having a tough time paying cash for a service which is bordering on not being delivered.

.

A slightly different way of saying what you said above is....

Words carry a lot more weight when positive AND negative are both acknowledged. The negative ones should be acknowledged too. Than tell people how they are being addressed. So that the problem will no longer be a problem soon. If they aren't addressed then they will continue to exist.
It's hard to trust a person when they only say positive things and deny negative things on a repeated basis.

Chet you said there were no problems. But are you using a 2nd data provider that is independent of your Sterling Data?
That might allow you to also filter your view about what others are saying with data issues.

C Robinson · Oct 1, 2003

the ecn game for listed, has changed drastically in the past few months....not that i don't still use them but there are guys out there that have computerized programs that you nor i can beat right now. as far as my comments go you have know idea what i was doing with the ecn's. i was scanning nyse stocks for inefficiencies and taking out bids and asks.(not going to go in to details) there is no way you or your guys were beating me to it. as far as other ecn's go for listed...who cares...the liquidity must be dismal..........

C Robinson · Oct 1, 2003

Quote from Stock_Lover:

A slightly different way of saying what you said above is....

Words carry a lot more weight when positive AND negative are both acknowledged. The negative ones should be acknowledged too. Than tell people how they are being addressed. So that the problem will no longer be a problem soon. If they aren't addressed then they will continue to exist.
It's hard to trust a person when they only say positive things and deny negative things on a repeated basis.

Chet you said there were no problems. But are you using a 2nd data provider that is independent of your Sterling Data?
That might allow you to also filter your view about what others are saying with data issues.

Hey Robert,

your point is well taken....are you currently trading right now???

tdoc · Oct 21, 2003

Did any Echo traders have problems with quotes near the close today? Echo tells me there were no technical problems today, but I had frozen quotes quite a bit this afternoon. I've tested my computers and internet connection and they are OK. Just curious.

In general, echo has been doing an outstanding job recently. I haven't had any data feed or order entry problems for quite some time.

tdoc

learninglisted · Oct 22, 2003

Quote from tdoc:

Did any Echo traders have problems with quotes near the close today? Echo tells me there were no technical problems today, but I had frozen quotes quite a bit this afternoon. I've tested my computers and internet connection and they are OK. Just curious.

tdoc

Yes I did, and yesterday too. Not only would the quotes freeze, but the system would get knocked off Echo's servers. Unlike you, however, I got disconnected in the morning, early afternoon, and near the close, not just near the close.

I think I've lost connections to Echo at least three or four times a day these past couple of days, and to be honest it's rare that a complete trading day goes by without at least one or two disconnects.

I don't believe it was my internet connection because my e-mail, IM, and Internet Explorer all worked fine during the events. For example, I lost my connection would try to log back in, couldn't, and then I'd refresh Internet Explorer or my e-mail program and they would be fine. So you have to completely exit your Echo trading platform and then open it up and login again, and hope it works.

It's getting very frustrating, not to mention downright scary when you're in the middle of a trade or waiting for a pending order to get filled.

limitdown · Oct 22, 2003

Echotrade took its name from the term ECHO, as in duplicative processes.

The founders came from Bright Trading and were tired of the same issues being mentioned here.

When they floated their enterprise they chose multiple site multiple path redundant systems and communication lines, hence the usage of the term ECHO.

Evidently that expensive investment in T3 services and communications, networks, systems and otherwise has been or might not be as reliable as it once was, hence the complaints being mentioned here.

In all fareness, and with respect to my extensive technical background, even military multiple redundant systems have faults that are accepted within minimal percentage outtage limits. Most commercial civilian systems can not and do not afford those levels of service, hence, when in some parts of the country or world, outtages, albeit temporary can and will be noticed.

In all fareness, monitoring the market during the 8 critical hours of trading in pre, open and post market conditions is akin to signal processing analysis systems where the transport of data is constant during all that time. Hence it is more/most likely to see, notice and be disrupted by outtages than would be noticed by less constant applications, like VOIP (voice over internet) or other less demanding systems.

In short, their systems are still cutting edge, and their outtages are most likely within acceptible ranges of performance.

astocktr8r · Oct 22, 2003

The only problems that I have had recently has been with using separate software using Orca on Predator Pro. Every once in awhile it won't price all the securities correctly before the open. As a fallback at least I have the old opening order spreadsheet open and ready to fire off if need be.

My data feeds have been ok recently.

bro59 · Oct 22, 2003

Quote from limitdown:

Echotrade took its name from the term ECHO, as in duplicative processes.

The founders came from Bright Trading and were tired of the same issues being mentioned here.

When they floated their enterprise they chose multiple site multiple path redundant systems and communication lines, hence the usage of the term ECHO.

Evidently that expensive investment in T3 services and communications, networks, systems and otherwise has been or might not be as reliable as it once was, hence the complaints being mentioned here.

In short, their systems are still cutting edge, and their outages are most likely within acceptable ranges of performance.

When I started with Echo there was a secondary platform offered in conjunction with the primary. This was apparently a back-up, although it was only a quote tool and never reached the order entry stage. The package was institutional in nature and, I can only assume, quite expensive.

Since then not only has the backup quote option been deleted for remote traders, but additionally the primary and exclusive trading platform has gone through the roof from a cost perspective. I'm speaking of Sterling or "EchoPro" and not the proprietary platform, whose cost as well as functionality has remained static.

I can only assume that since inception the firm was painfully aware of the need to service traders in a fashion superior to competitors. This goal was met, and the ranks of new member traders swelled in short order. Then, of course, the firm was commoditized and sold. V.B. as the new owner seemed to bring cost cutting to the table, and an urgency of service to the customer seemed to slip. Redundant systems were dropped, as was reliability. Unfortunately its a tired tale, and typical of the acquisition cycle.

My kudos to EchoTrade revolves around the people. Employees of the firm are very cool. The problem, as always, lies with corporate and its mentality toward the customer. Unfortunately another niche player with a strong emphasis on righting the wrongs of other firms appears to have gone the way of the Dodo.