Will you stay with Cyber/Schwab if they only offer per trade pricing?

Quote from surfrider:


dump routing means the market makers in the brokerage houses can trace/keeptrack of your orders now and really move a stock contrary to trading sentiment-even though sentiment is aligned with market!
More...

This is something I have suspected for quite a long time now, as this happens to me on about 90% of my trades. The market immediately moves against you and even when it starts to return to your entry position, most of the time it stops exactly at your entry point and will either bounce or stay there, denying you a profit. This happens to the penny, even if the position was entered through more than one trade.

Other than my broker giving them information about my account position, or identifying some type of account reference when they place the order to their order routing buddies, I can't figure out how they know my position and can affect the entire market, just to get to my lousy 500 share position in a multi-million shares/day stock?

Echo
 
Quote from dinoman:
Direct-Access Orders - Schwab's equity direct-access order-routing technology and tools were developed by CyberTrader. These tools provide clients with choices regarding where to route orders.

MY THOUGHTS: Is this a misleading statement?
More...
Yeah, they're really waffling here. They ought to say whether the same direct access venues will be available, or whether it'll be like SSPro, where direct access means "your choice of 3 ECNs".
 
its in the code associated with all trades now i suspect-a lot of things changed after 2000 blowup
level three platform view tells a whole nother story for the pro/MM{market makers} the only cover we have is extremely high volume- a
and that is changing as we speak as they get better with their programming and bigger faster computers
point is..
cybertrader is selling out-schwab is eliminating a competitor
and cybertrader at least was a partial equalizer
no longer :(
 
You can't short thru an ECN with SS Pro. You can with CT.

You don't have access to a smart ECN router immediately before & after the market closes with SS Pro.

You can't short at all immediately before & after the market closes with SS Pro.


CyberRep, will those aspect be changed sinced we can already do it all with CT?
 
Another question: unless the trade potentially puts us over our DTBP, will an order ever be delayed for manual review before being transmitted to the market?
 
Quote from seasideheights:

CyberTrader to be dumped

http://phoenix.bizjournals.com/austin/stories/2007/06/25/story2.html


Does anyone have access to that full newspaper story? If so, could you give us some highlights of it?
More...

sure - go here to read it all:

http://www.msnbc.msn.com/id/19409915/

the article is a p.r. fluff piece, with a quote from an analyst.

here's the best:
"They probably realized that it's (day trading) not a huge market and it's not worthwhile to maintain the stand-alone platform," Buchner says.


article's a waste of time, but i know you'll read it anyhow. i would if i were a customer, even with a 'don't waste your time' warning.
 
What seems to be clear in this case ...is that some firms are opting for the typical advertising model...

The sweet spot in the business are the orders that account for 100 to 400 share lots...which really represents the majority of orders...

This is very simple...does one make more at $5 to $15...or at $1 with ecn rebates as well...

Obviously some firms prefer the advertising mom and pop model versus the more sophisticated and demanding individual trader type model...

Thus the lines are being drawn in the sand...

IB and firms like Genesis will dominate the more sophisticated trader type market.....and word of mouth travels like wildfire when an individual finds out one can trade for $1 at Sogo by Genesis vs $5 to $10 for the advertising models....

IB and firms like Genesis will own the more sophisticated traders market.....as long as their trading technology keeps up with growth etc...

And what will be further pressure in this sector...will be brought by the Bank of America zero commission model....

Nope...the brokerage industry does not remain the same for long....and the transaction business is becoming more and more a commodity....In twenty seven years the cost has dropped from over a $100 to almost free....

Now with the rapid consolidation changes in the exchanges...it will be interesting to watch how the other markets are going to have to drastically cut their commission rates....just like what has happened in the US....

Firms like IB will one day have a more uniform cost structure regarding the trading of stocks and other instruments with respect to the various consolidated exchanges...thus dramatically increasing the number of tradable vehicles for individuals....
 
Hi guys, CyberRep back.



I have been asking questions over here about questions you’ve raised, and one thing that has been a question even to me is that why don’t we just mirror all of the features of CyberTrader Pro onto SSPro. What I learned is that some of the features can be replicated on SS Pro, and it’s simply a matter of being able to commit the time and resources needed to deploy them. We are still scoping some of these features, and as soon as we know they will be available (for example hot keys, the dynamic ticker, and the same maximum number of charts and trading windows in SSPro as in CTPro, which I just learned will be added), I’ll be sure to let you know.



However, some of the features you’ve been asking about are not as straightforward to integrate into SSPro. This is due to the fact that the exchange , backend, and clearing systems that are in place here aren’t the same as Schwab, so features that use those systems are much harder to add to SSPro. I’ve been told we’re still evaluating what we can accomplish, I will pass along whatever is determined.



I can assure you we are not just arbitrarily choosing which features to support and which ones not to support, that’s not how we do things at Cyber. Some take longer than others to integrate (for example, we are working on adding 3-4 legged options trading to SSPro in 2008) , and some seldom used features may not be added at all in order to allow more popular features to be included.



The bottom line here guys, is that SSPro is going to keep getting better with this integration, it will actually improve faster because we will only have one platform to support. Our immediate goal though is to work in as many features as possible by the end of the year.


As for the latest article regarding CyberTrader's future, it can be found here:
http://www.msnbc.msn.com/id/19409915
 
You must log in or register to reply here.
Back
Top