Rithmic Announces Nonrenewal of Zen-Fire Use

all roads lead to CQG .. :) ...


Continuum Now Available for NinjaTrader Users
January 8th, 2014 - 10:30 am CT (11:30 am ET)
________________________________________
Dear Traders,

Continuum order execution is now available through Mirus Futures for NinjaTraders users.

Used in conjunction with Kinetick, you can access institutional quality data and order routing for a complete connectivity solution.

Register here to start the conversion process from ZenFire to Continuum.

In addition, Mirus will be covering the associated connectivity fees for January and February service. This includes the $10/month Continuum fee along with rebates for a pro-rated Kinetick real-time data subscription.

Following your conversion to Continuum, you will be able to resume trading your Mirus account through NinjaTrader.

Continuum is currently available for Mirus accounts clearing through Dorman Trading. If your account is with RCG, you can open a separate account with Dorman to access Continuum.

Convert to Continuum & Receive Rebates.

Please contact your broker here at Mirus or Mirus Support at 312.262.1288 with any questions you may have in the interim.
 
Quote from tlopez51:

http://www.cftc.gov/MarketReports/FinancialDataforFCMs/index.htm
More...

actually, that shows you only the "financial" health to some extent... what laocoon wants to do is check BASIC

http://www.nfa.futures.org/basicnet/Details.aspx?entityid=k17Ne6qLDo8=&rn=N

and their seg funds are with CHASE if I am not mistaken, based on where I wire money in/out from with them...

in all fairness, AMP is one of the few FCM's that offer the greatest and most diverse ways to trade at an affordable cost, even to newbies... but like with every FCM, there is always risk... so just keep with them what you need to trade the size you require and the markets you need and sweep the rest out weekly or monthly...

if you only need $25K to trade 25 contracts(assuming you decide on 1K margin even though you can do $500)... that is all you need to keep in there... if at the end of the week you have $50K, ACH out $25K... if you drop below, wire some money in...

people get caught on the wrong side when they only need $25K to trade and yet the whole year PnL is on the account and the FCM goes out (a la PFG/MFG)... some level of protection rests on the client IMO... dont just close your eyes and hope...
 
So Mirus offer Continuum as a workaround which is a small move in the right direction.

Also if you are with Rosenthal you will need a new account with Dorman.

Also this seems to only be for Ninja users, what about the rest of us?

Too little, too late...
 
Mirus has lost all credibility in my eyes and many, many others. It's bad enough that their system is nothing short of a clusterfuck with this Zenfire screwup, but to hide from their customers the way they have this past week is inexcusable. You cannot speak to anyone if you try to call - perpetual hold then straight to filled vmail box, and here I am waiting on day three for them to process a funds withdrawal.

Hiding from their customers...fucking cowards!
 
Quote from bullnbear:

So Mirus offer Continuum as a workaround which is a small move in the right direction.

Also if you are with Rosenthal you will need a new account with Dorman.

Also this seems to only be for Ninja users, what about the rest of us?

Too little, too late...
More...

realistically, anyone that is with RCG/RJO can just call either of those two FCM's and open a new account with them without Mirus as Intro Broker and transfer the funds in the background.. a heck of a lot faster IMO... but you might be out of luck with the whole MC on ZF... I dont think RCG offers Continuum, which is why Mirus is dictating you to move to Dorman... but they do offer CQG and if you call them directly and express to them how Mirus issues are screwing your business, you can find out more or even accelerate your transfer to another IB internally or just go with RCG direct... (http://www.rcgdirect.com/)
 
This is first class advice. If you have a reason (usually margin) to trade with a weakly capitalized firm never increase your risk by keeping excess funds there. I also think some can trade a bit "closer to the bone" than keeping double the day trade margin in their account. Leverage is never a function of what you keep at any given firm but rather what you have liquid and can wire in. if your daily loss limit is $250 per contract you can keep $350 over the requirement and breath easy if you have liquidity elsewhere.

Quote from ofthomas:

actually, that shows you only the "financial" health to some extent... what laocoon wants to do is check BASIC

http://www.nfa.futures.org/basicnet/Details.aspx?entityid=k17Ne6qLDo8=&rn=N

and their seg funds are with CHASE if I am not mistaken, based on where I wire money in/out from with them...

in all fairness, AMP is one of the few FCM's that offer the greatest and most diverse ways to trade at an affordable cost, even to newbies... but like with every FCM, there is always risk... so just keep with them what you need to trade the size you require and the markets you need and sweep the rest out weekly or monthly...

if you only need $25K to trade 25 contracts(assuming you decide on 1K margin even though you can do $500)... that is all you need to keep in there... if at the end of the week you have $50K, ACH out $25K... if you drop below, wire some money in...

people get caught on the wrong side when they only need $25K to trade and yet the whole year PnL is on the account and the FCM goes out (a la PFG/MFG)... some level of protection rests on the client IMO... dont just close your eyes and hope...
More...
 
Quote from ofthomas:

realistically, anyone that is with RCG/RJO can just call either of those two FCM's and open a new account with them without Mirus as Intro Broker and transfer the funds in the background.. a heck of a lot faster IMO... but you might be out of luck with the whole MC on ZF... I dont think RCG offers Continuum, which is why Mirus is dictating you to move to Dorman... but they do offer CQG and if you call them directly and express to them how Mirus issues are screwing your business, you can find out more or even accelerate your transfer to another IB internally or just go with RCG direct... (http://www.rcgdirect.com/)
More...

Yeah thanks.

I was speaking hypothetically and have long dropped Mirus (Dorman) and ZF. I feel a bit sorry for Dorman as it is Mirus that has no doubt lost them a lot of business and no direct result of any of their own actions.

C'est la vie!
 
Quote from cstfx:

Mirus has lost all credibility in my eyes and many, many others. It's bad enough that their system is nothing short of a clusterfuck with this Zenfire screwup, but to hide from their customers the way they have this past week is inexcusable. You cannot speak to anyone if you try to call - perpetual hold then straight to filled vmail box, and here I am waiting on day three for them to process a funds withdrawal.

Hiding from their customers...fucking cowards!
More...

I totally agree. It's an awful mess and one Mirus seem to be hiding from.

My transfer was completed yesterday after requesting it on Monday so yours should not take that long either.

I sent an email to Rex at Dorman yesterday morning asking when it would be completed and then an hour or so later it was done. You might want to consider chasing Dorman or Rosenthal up directly if you still have no luck.
 
Quote from Swan Noir:

This is first class advice. If you have a reason (usually margin) to trade with a weakly capitalized firm never increase your risk by keeping excess funds there. I also think some can trade a bit "closer to the bone" than keeping double the day trade margin in their account. Leverage is never a function of what you keep at any given firm but rather what you have liquid and can wire in. if your daily loss limit is $250 per contract you can keep $350 over the requirement and breath easy if you have liquidity elsewhere.
More...

I have done that for years... while watching other traders like Don Miller (as a public example) get stranded with large sums of capital. Unless you average down = against like he does with the "creating liquidity" martingale concept, there is no need for huge margin excess.

Started with Mirus back in 2005 or so, cannot recall exactly but it was still a tiny firm and Eliot was my personal broker. So I'm not ready to leave them entirely due to a rather long relationship but I have also worked with Global Futures for quite awhile. Only mention them by name because I see they are a site sponsor here.

Anyways, due to trade costs and features of execution with block accounts I am testing platforms other than Ninja. Today I'm starting with GlobalZenTrader (openecry logic) after reviewing it last night. Running it alongside Ninja = CQG so far this morning and the speeds seem perfectly equal on price quotes.

Moral of the story? Diversity and flexibility are key in this profession. That, and keeping all excess capital in your own bank account and not at risk of being stranded (or worse) elsewhere.
 
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