Who else thinks Swift canada is toast?

[speedyj]

Title is having their fair share of slow quote/execution issues due to lousy Internet based network connections compromised by ISP's being handcuffed by the Chinese government. What a wonderful way to trade.

 

[GGSAE]

You know that's one thing i never realized with many swift traders, why they would be so stubborn and set in their ways...this is trading, you need to adapt and be flexible.

I remember way back in my swift days there was a trader struggling every month to achieve the 3k contract level. He had about 12 consecutive net positive months, with many being very close to 3k - before he got the contract status. And after he got it, he never really went anywhere.

 

[GGSAE]

Hey is Peter Kim still involved in Swift, or is it just the one man wrecking ball Beck?

 

[mnx]

Quote from GGSAE:

Hey is Peter Kim still involved in Swift, or is it just the one man wrecking ball Beck?

you mean Charles Kim? Yeah he's still alive and active in swifttrade.

- mnx

 

[wucah]

Quote from PORNSTAR69371:

Anyone else who witnessed that conference cal today must be absolutely appaled by the insanity of Peter Beck, i believe at one point the hamilton BM asked Peter so are we still all disposable? which implies that Peter stated this in the first place to the branch manager who runs the branch and also has the trader who was responsible for millions of dollars in Peters back pocket, anyone who wants to remain with this lunatic after he fliped out today is insane, and Peter basically summed it up at the end by saying "if you don't like it leave"

So lemme ask just one question just how many swift trade branches do you think are considering that exact option as we speak?

Pornstar how do you know this? don't you have to be a swift manager to hear those conference calls?

TG

 

[wucah]

Quote from speedyj:

Title is having their fair share of slow quote/execution issues due to lousy Internet based network connections compromised by ISP's being handcuffed by the Chinese government. What a wonderful way to trade.

And swifttrade uses some Space age satelites that omit the internet? Or maybe they have their own fiber under the ocean right? You sound like one of the developers at swift, isn't their code still based on excel, or written in LOGO? If they switch to office 2007, excel can have more entries in it so maybe the system won't go down as much! And you won't have to execution servers down errors. Also other swifties reading this you should suggest this to your managers, together you can change the system!

 

[TM_Direct]

I remember in 01' listening to a bunch of guys tell me that Swift was done...In o2' a group of traders said the same thing and that 'when they leave, SWift is DONE"....then i heard the same thing about a year ago from a competing b/d as well..HMmmmmmmm..im starting to notice a trend here????

FWIW....I remember when Hold brothers were definetly going under, fini, done....that was in 02'......

I heard a similar thing about WorldCo and oh wait,,,,never mind.

 

[Lippy]

just because swift has been able to postpone its death doesn't mean it can avoid it, swift has been in ruff shape before and they keep on managing to have there ass saved by a few of there traders. As there is more and more competition there will be less and less talented traders to save swifts ass, so maybe there not done yet, but they are going to be unless they restructure because there software sucks, there payout sucks, and theres better companies that offer the same model as swift

 

[GGSAE]

Quote from mnx:

you mean Charles Kim? Yeah he's still alive and active in swifttrade.

- mnx

Yeah that's who i meant

Maybe Beck and company don't care about whether swift is around for the longterm because they've already locked in so much in profit?

 

[Szeven]

Quote from GGSAE:

Yeah that's who i meant

Maybe Beck and company don't care about whether swift is around for the longterm because they've already locked in so much in profit?

Thats what i think about it. I dont know much about economics but im sure there is some rule about how when you are new and have no competition margins are high, and when theres a billion people doing what you do in a commoditized industry the margins are low. Beck is clearly a super entreprenuer our for himself and he has been extremely successful, no one can ever dispute that, but you do have to question whether a constant dog fight for traders in a decreasing margin business is something he will want to continue putting effort into.