Rithmic Announces Nonrenewal of Zen-Fire Use

[speedo]

Quote from Bernard111:

The matter of fact in these cases, is the 'new Zenfire' is in developing mode (stating that in kind words) and the Customers are paying the price. But Mirus, too...

The difference is Mirus elected to take the risk. Clients were in the dark.

 

[bullnbear]

Quote from Bernard111:

The matter of fact in these cases, is the 'new Zenfire' is in developing mode (stating that in kind words) and the Customers are paying the price. But Mirus, too...

Exactly. It's painfully obvious the new feed is nowhere near ready for the end user.

I wonder if the new Zenfire came to light and was rushed due to unforeseen legal issues with Rithmic, or if the feed was planned all along as a replacement but has just been managed very badly? From where I'm sitting it certainly feels like it's being rushed out of the door unprepared.

For there to be no proper backup is very poor and the fact that Mirus keep trying to push MirusTrader onto me is a bit insulting tbh.

 

[bullnbear]

Quote from speedo:Clients were in the dark.

This is why I'm most annoyed with this situation.

I had heard nothing from Mirus regarding the Zenfire "upgrade" until a few days before I was going to open my charts again to look at the markets.

At that point I was told my platform would not currently be supported until an unspecified date and there was no alternative feed to use. Very poor business and these are the people I trusted to trade with!

Really what good was a few days notice? No good to me. This should have come to light at least weeks before the event, not a few days.

The company have totally lost my trust. I could have possibly dealt with a poor feed for a while, but it's the way that the whole debacle has been handled that has lost them my business.

 

[NinjaTrader_Ray]

NinjaTrader announces full support for Rithmic. Access it anywhere Rithmic is available including AMP Global Clearing and Vision Financial.

 

[AMP_Futures]

Thank you Ray!

<b>AMP is the Largest & Cheapest NinjaTrader Brokerage</b>

Now available 3 Data feeds at AMP for NinjaTrader

<b>CQG</b> "AMP Exclusive": http://www.ampclearing.com/why_cqg.html

<b>RITHMIC 01</b>: http://ampfutures-rithmic.com/

<b>AMP/TTNET™</b>: http://daytrading-simulator-day-tra...ninjatrader--trading-technologies--ttnet.html

All 3 with No Monthly Inactivity Fees & No Monthly Volume Requirements

<b>We will continue providing Excellent Customers Service!</b>

Please call our 24 hour help desk if you need assistance or have any questions: 312 893 6400 ext. 1 or email: trading@ampfutures.com

The risk of trading can be substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not necessarily indicative of future results.

 

[Grandluxe]

Some people are saying Mirus could go bust over this fiasco. Many are transferring their accounts out.

 

[ofthomas]

Quote from Grandluxe:

Some people are saying Mirus could go bust over this fiasco. Many are transferring their accounts out.

mirus will probably go the way of the dodo, just like zenfire... but keep in mind one thing...

Mirus is a <b>broker</b>, not an FCM.. they introduce to three clearing firms (dorman, RCG, RJO)... each one of those firms has other platforms outside of the NT/ZF fiasco... clients should have pressed for faste change... and mirus should have been able to have addressed the issues with instability a lot faster than they have done... I guess that is why they are going the way of the dodo... reputation impact/risk is something hard to recover from...

am sure now they are regretting the business model of concentrating all their eggs on ZenFire feed only...

 

[rknas]

You cannot make traders lose two weeks of trading just as the new year opens and expect people to stick with you.

 

[bullnbear]

Here's the latest email from Mirus...

Mirus Futures Client Update

January 7th, 2014 - 9:00 pm CT (10:00 pm ET)

Dear Traders,

Thank you again for your continued patience during the recent service interruption.

We are finalizing the setup of a new connectivity solution for our NinjaTrader users and expect to have additional details distributed shortly.

This solution will allow NinjaTrader users to resume trading their Mirus account through an alternative technology.

ZenFire order execution remains closed and we will be outlining how Mirus clients can convert to the new solution once it is available for your market data and order execution.

Please contact your broker here at Mirus or Mirus Support at 312.262.1288 with any questions you may have in the interim.

-------

What also bugs me as a client is this:

"This solution will allow NinjaTrader users to resume trading their Mirus account through an alternative technology."

All along they have acted as though everyone uses NinjaTrader. There is rarely any mention of other platforms and I haven't got a clue if or when my personal trading solution would be resolved using Multicharts...

If Mirus go bust they can only blame themselves and I don't think they can be in the slightest surprised that it happened.

 

[laocoon]

I'd be interested to find out if/how funds are protected for AMP clients, as AMP is both broker and clearer. With Mirus, the situation seems to be pretty clear as funds are held by a different party, ie RCG/Dorman.

Thanks