TS is NOT Direct Access

Quote from BobbyMurcerFan:

Where'd you go Michael?
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Ah Bobby, this is no surprise. This is how it usually works:

1. Point out a problem to TS.

2. TS denies it, saying that it's either your computer or that your software is corrupted and you have to repair it. How could there possibly be a problem with TS?

3. Others discover the same problem and chime in.

4. TS quietly fixes the problem.

It'll drive you nuts. Their customer service is improved, but I wish they would get over it and acknowledge that all software is imperfect. Simply acknowledge the bugs, enumerate them to your customers, and fix them in a subsequent release. It's not so hard.

PTR
 
You think it's better elsewhere?

Cybertrader, is getting data for the ES (E-Mini) that includes volume. It shows up realtime in their 'info' box when you scroll accross the chart. so the data is threre for sure.

But, the volume refuses to show up in a volume study. Just one bif fat ugly bar at the far right.

Been like this forever. I call them on it and as usual , they call it an enhancement, and it won't be fixed in the next release but if I'm lucky, sometime before I die, or go broke, whichever comes first.

Got news for 'em, I won't be around to know it if and when they do fix it.
 
I've been asking everyone about this issue & it seems that IB is the bare minimum if you want to quickly trade the ES. Up from that level are FCM's that offer X-Trader or J-Trader interfaces.

Anyone, please feel free to chime in.

Thanks.

BTW, there was an excellent list of questions for Michael about stock scalping with TS that I'd love to have answered too.
 
Quote from BobbyMurcerFan:

Michael:

DIRECT ACCESS=DIRECT ACCESS??
You're calling using another clearing firm's servers to access the CME "direct access." However there are other broker dealers whose computers connect directly to the CME, no intermediary firms/computers involved. So I think you're using the term direct access rather loosely.

IT ALL COMES DOWN TO SPEED
Who cares how orders get to Globex, as long as it reliable and fast. Well I'm not sure that's always the case.

TS recently swithed from receiving CME quotes through Refco (which you call "direct access") to receiving them directly to TS's own servers w/o intermediary firms & servers (which I call direct access). The speed increased so dramatically that there were posts here on ET applauding the improvement. This seems to show that the Refco link is a bottle neck.

While it's true that waiting over 12 mins for a market fill on the ES and minutes for limit order at the market is not normal, it does happen. And each time I've looked into the problem, there was nothing wrong with Globex. There was on at least one occasion a problem with the intermediary Refco link to Globex.

TS IS NOT BAD
As I mentioned above in an earlier post in this thread, to be fair, TS has made an adjustment to my account on a market sell that took 13 minutes to be confirmed. And their customer support is very good. But I have to also say that in my experience there is a bottleneck in the order execution of at least the ES during high volume times. And from what I can tell, it's caused by TS's decision to use a secondary firm's servers as an intermediary link to the CME instead of connecting directly to the exchange.
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Once again, 12 minute fills are not the norm. We certainly deem this as unacceptable. In addition, CME orders are routed via iLink ( thus providing the direct conectivity). As such, the life cycle of a CME Mini order is as follows: an order is submitted electronically ( from the user's PC) to an order execution server ( regardless of whose server it is) which transmits the order to the exchange for execution via some protocol ( in this case iLink). This clearly defines a "direct access" methodolgy. We certainly appreciate your point regarding the use of proprietary servers vs. others. However, the definition of direct access does not hinge upon subjective delineations of order execution servers.
 
Michael,

Thank you for your reply. My IB account will be funded once the ACAT goes through. When that happens, I'll have another broker to compare to TS side by side.

I have had good experiences with TS customer service and not so good experiences with some of their futures fills/confirms. I think your current server system is slow during high volume times. Maybe I'm wrong. I hope so.
 
DIRECT ACCESS=DIRECT ACCESS ??

You're calling using another clearing firm's servers to access the CME "direct access." However there are other broker dealers whose computers connect directly to the CME, no intermediary firms/computers involved. So I think you're using the term direct access rather loosely.
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FYI: With regard to futures trading you might consider TS Securities Inc just as an introducing broker to Refco / Lind-Waldock (FCM). It is the same type of setup like with any other intoducing broker. The FCM holds your money and executes your trades.

P.S. The advantage of Lind-Waldock´s order entry (Lind Xpress 2.0) is that you can submit orders both to electronic and open outcry markets. Can´t do this with IB TWS and most J_Trader brokers. It is certainly not the best choice if you trade e-minis only.
 
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