The new TT platform... when, where ??

[Rick_TT]

The pricing on the TT's website is for new customers? The price being charged for Xtrader is much less that what is being listed on your website.

The pricing on the website is for our month-to-month transactional models only. And both X_TRADER and TT are $0.30/side, with two different monthly caps: $1000 for standard and $1800 for pro. You're probably referring to X_TRADER subscription pricing which is $600/mo and $1500/mo, respectively. Please keep in mind, however, that for subscription X_TRADER you must also pay for the gateway license fees (one for each gateway), not to mention the servers and network infrastructure that goes along with it.

On the TT platform, we also offer subscription rates which are actually lower than X_TRADER. These can vary based on term and volume discounts, but as an example a single user signing up for a year subscription will pay just $700/mo or $1400/mo (for standard and pro respectively). No software or servers to manage, ever.

Nice. once out of beta it will be par with XTrader ADL?

It will. Like Autospreader, in many cases it will exceed X_TRADER ADL (I should know, I built XT ADL). For instance last week in production we had a median, wire-to-wire hedge latency of 58 microseconds for Autospreader, and that number keeps getting lower. And with no infrastructure to manage. The ADL numbers will be right in line with this.

And by the way, production users can see the latency of every order they place, right inside the app.

Where can i find more details about this? So i can set a daily loss limit that will automatically close out my positions if for example, $1'000 loss is reached?

That's correct. You have a few options (you can have orders deleted when your loss threshold is reached, or full liquidation). You can find out more information about the feature on our online documentation:

https://library.tradingtechnologies.com/user-setup/TTUS_Company_Liquidate_User.html

My biggest fear is being pushed to this new TT before it is ready.

No one is pushing you For many people, the platform is already "ready," but not everyone. We'd still love to know what must-have (for you) features TT is lacking. Chances are they are right around the corner. And even if they aren't, you'd be surprised how quickly customer requests are turned into production features, so there's no downside to asking!

-Rick

 

[surf'n trade]

Epic!!

 

[RosyScenario]

No one is pushing you For many people, the platform is already "ready," but not everyone. We'd still love to know what must-have (for you) features TT is lacking. Chances are they are right around the corner. And even if they aren't, you'd be surprised how quickly customer requests are turned into production features, so there's no downside to asking!

-Rick

As someone mentioned in another thread, all standing OCO orders for ES are apparently cancelled by your TT platform during a reset, which I assume is at least once a day. True?

 

[Rick_TT]

As someone mentioned in another thread, all standing OCO orders for ES are apparently cancelled by your TT platform during a reset, which I assume is at least once a day. True?

Hi @RosyScenario

Currently, algo servers are reset over the weekend. This is admittedly not ideal because many users would like to have synthetic orders span multiple weeks. We are actively working on persistence which will allow us to recover algos even through server restarts, upgrades, etc. We'll follow up on this thread once persistence is released into production. It won't be long.

-Rick

 

[RosyScenario]

Hi @RosyScenario

Currently, algo servers are reset over the weekend. This is admittedly not ideal because many users would like to have synthetic orders span multiple weeks. We are actively working on persistence which will allow us to recover algos even through server restarts, upgrades, etc. We'll follow up on this thread once persistence is released into production. It won't be long.

-Rick

My understanding is that along with the weekend resets, the algos are also reset during the week on an ad hoc basis, the timing of which is difficult to anticipate.

And along with algo recovery, it's important that the orders that were resting on the exchange prior to the reset be persistent--not cancelled with the reset then replaced--so as not to lose priority.

It's good you are working on this; we will be looking for your follow-up. And thank you for your reply.

--RS

 

[Rick_TT]

My understanding is that along with the weekend resets, the algos are also reset during the week on an ad hoc basis, the timing of which is difficult to anticipate.

And along with algo recovery, it's important that the orders that were resting on the exchange prior to the reset be persistent--not cancelled with the reset then replaced--so as not to lose priority.

It's good you are working on this; we will be looking for your follow-up. And thank you for your reply.

--RS

It's true that in some outstanding situations, some servers need to be restarted mid-week but it is rare. When this happens, we attempt to notify all traders with working orders ahead of time.

Yes, proper persistence assumes the child orders remain working and the algo resumes responsibility for them. In other words, it should behave as if the server never restarted. Stay tuned.

-Rick

 

[Rick_TT]

Yes, proper persistence assumes the child orders remain working and the algo resumes responsibility for them. In other words, it should behave as if the server never restarted. Stay tuned.

-Rick

Hi @RosyScenario

Just circling back -- this past week, persistence and recovery for Bracket, OCO, and Iceberg orders was released to production. So in the event the algo server is restarted at any time, including over the weekend, your synthetic orders will resume working.

Have a nice weekend.

-Rick

 

[RosyScenario]

Hi @RosyScenario

Just circling back -- this past week, persistence and recovery for Bracket, OCO, and Iceberg orders was released to production. So in the event the algo server is restarted at any time, including over the weekend, your synthetic orders will resume working.

Have a nice weekend.

-Rick

This is remarkable. And this is good. Thanks for that update.

As long as I "have" you, let me press my luck and proffer a suggestion:

Appropriate pricing:

I use a variety of orders and I sometimes place straight-and-simple limit orders away from the market that simply get passed through to sit at the exchange. Justifying paying a premium for these on a per-contract, per-side basis--especially if you are doing size--is a challenge since any free platform will accomplish this task just as well. Consider altering your pricing structure to include straightforwardly placed native exchange orders at no charge.

Right now the workaround is to use a second (free) platform to send native exchange orders, which is awkward. Whereas keeping your monthly minimum charges while incorporating no-charge native exchange orders into your platform would solve this problem while motivating existing users to stay solely with the TT platform; and it would be a selling point to encourage participation by new users.

Thank you for your consideration and your fine product.

Rosy

 

[Rick_TT]

Consider altering your pricing structure to include straightforwardly placed native exchange orders at no charge.

While we can't offer free transactions for native exchange orders (a large percentage of the daily volume that goes through TT software is from these types of orders) there are ways you can reduce your monthly bill.

Based on what you've said, I assume you trade enough volume where you'd likely cap out on our transactional model ($1000 and $1800 for Standard and Pro, respectively). You can always lock in lower rates by signing up for a subscription ($700/$1400 for instance).

If you are intending to remain transactional versus subscription, we are considering offering a more "entry level" version of our platform, although there is nothing to announce yet, and I suspect you might miss some of the tools that would be lacking in such a version.

 

[surf'n trade]

@Rick_TT it has been a little while. Anything new and exciting to report to us?