TM and Transact terminate relationship!

A

amiindew

Does anyone have a clue what has happened and what it means to have one's account transferred to Man financial as the FMC?

Will there be any chances in datafeed? I heard from another broker that TM will switch to PATS? Does anyone has any experience with TM/PATS and how it compares to TM/Transact?

There have been so many, continues changes in the last 3 months, what's going on?
 
Quote from FuturesTrader71:

Do you mean that you are with TransAct and your account is being passed to Man Financial?
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Yes, per Feb. 24 your account is automatically transfered from Transact to MF on request of TM, unless you specifically notify Transact not to agree with that (but then you can't continue using TM I assume)
 
Quote from amiindew:

Yes, per Feb. 24 your account is automatically transfered from Transact to MF on request of TM, unless you specifically notify Transact not to agree with that (but then you can't continue using TM I assume)
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Depending on the reasons, this could be seen as a warning for those who clear through TransAct. I met with them and extensively tested their system about 2 yrs ago. I have heard a lot of complaints since then. I would consider your options if I were you.
 
Quote from FuturesTrader71:

Depending on the reasons, this could be seen as a warning for those who clear through TransAct. I met with them and extensively tested their system about 2 yrs ago. I have heard a lot of complaints since then. I would consider your options if I were you.
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I am in the same boat!
I dont mind planned change, but this one smacks of intrigue or undisclosed play, neither of which I appreciate.
Yours is a vague reply FT71.
What is your experience of man financial?
 
Quote from commanderco:

I am in the same boat!
I dont mind planned change, but this one smacks of intrigue or undisclosed play, neither of which I appreciate.
Yours is a vague reply FT71.
What is your experience of man financial?
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I interviewed with them a while ago when I was looking for an FCM. They have been around for a long time. They are a pretty solid clearing firm. I wasn't aware that they handled retail trading though. I don't know much about that aspect of the business.
 
Quote from Xenia:

Why do they want to change their setup every 3 months ?
TM with TransAct was fine until August or November 2005.

www.elitetrader.com/vb/showthread.php?threadid=52959
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This is why I was eluding to the fact that these events would make my ears perk up. I pay close attention to events or changes at any business where my money is on deposit. TransAct has struggled for a long time with TM and the various issues related to it. I think they were a more stable business when they used their own platform. Frequent outages or interruptions (frequent for me is more than once per quarter) would have me immediately looking for a backup and minimizing my exposure.

Again, I'm not blowing a whistle here. I think highly of TransAct's upper management. However, there is plenty of risk to trading, so your FCM should never be an additional burden.
 
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