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In turn, with the new software-as-a-service (SaaS) TT platform, students have access to the real-world technology used by financial professionals around the globe via any laptop, Android or iOS device—truly bringing the marketplace to the classroom.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
Just so we are all the same page. Trading Technologies now have two product lines that look (at least from a color scheme perspective) similar.
First the legacy XTrader suite originally launched in 1994 that includes the original Autospreader, ADL, XTAPI, X_Risk, X_Study etc. The last major version of this was 7.17 released in Sep '13. I have been told by Trading Technologies that there will not be a version 7.18/8.0 etc. ie there will be no further development of this product.
The new product TT, (once called Nextrader) was launched in Mar'15. The choice of name is a little confusing because people used to call both the company and the old XTrader product both TT. This is the web/browser based product (although there is also a desktop version). It is the product discussed in this webinar and thread. As already mentioned the product is an interesting cloud/collocation hybrid. A lot of the none latency dependent functionality is cloud based, but all the execution functionality is all collocated on TT's hardware (and not the brokers) at the exchange. This product includes the new autospreader, ADL and has things like charting built in rather than as separate packages (although some of this functionality is not available yet). While the legacy products where all windows based the new gateways for this product are all unix based which along with the complete code rewrite is supposed to make TT significantly faster than XTrader.
This is not an FCM issue. We provide TT via 3 FCMs, while we also offer a free TT on a transactional basis only without any hosting or minimums.
The "campus" guys are not traders, and so the risk of execution, data, etc is not a concern.
Putting it in traders hands is a different story.
My questions were in particular to the "Nexttrader" and it's web capabilities.
I have enough contacts get the details right. Let me see what I can dig next week and update.
Matt
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
This is extremely helpful. Thank you for taking the effort to describe it and the thorough research.
I am interested in getting for our customers the web based version demo, because so far all I gave was the desk top.
Thanks,
Matt
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
I can't answer that question specifically but it should be noted that for the legacy XTrader product, FCMs have had to rent collocation space and install and maintain servers to run the gateways. Hence they have made significant investments in their infrastructure, which is obviously factored into the fees their customers pay.
The new product takes all of that away from the FCM's and put's it into TT's hands as TT now host and supply the gateways. This obviously has bad implications for FCM's investments in their infrastructure. If I was an FCM, I would be upset about that.
I don't know what the new product costs (it's not fully functional for me yet) but would be surprised if its cheaper than the old product. The cynic in me suspect's that there will be a 'per lot' transaction fee, if not immediately but at some point down the road. Maintaining exchange infrastructure is expensive and Trading Technologies will have to recover those costs somewhere.
There is a lot of truth to what you are saying, and yes maybe there is something to be said about those FCM that took the time and effort to investment in the infrastructure. Never the less, as an introducing broker I am very happy that the infrastructure support will be at the hands of the technology companies, and not the FCMs. This is what I am used to over the years, where the data providers support their own infrastructure. FCMS, could still control risk, margin, etc so everyone in the end does what they are good at. Maybe there is a different side to that, that I did not consider, but now that the product has become so much more affordable, it's a blessing.
As far as the cost: Yes, there is a per lot cost now, but you can opt out of the monthly minimum software cost which I believe is $1,200.
Matt
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Regarding cost of the TT platform, we have posted the price we charge FCMs on our website. The standard TT platform, which does not include Autospreader and ADL for algo design and execution, is $50 month plus a transactional fee. You may be capped at $1000. The professional version with the full suite of automation tools, Autospreader and ADL, is $400 and capped at $1800.
Keep in mind you will receive the exact same software used by the leading investment banks and hedge funds. Many of those traders you see talking on CNBC and other business news outlets will be using the exact same software as you.
Also, our distributors, and Matt Zimberg who is listed above is one of our fine distributors, can help you in getting a live account. You're also welcome to contact me here or on twitter: @patrickrooney
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Thank you very much for this update. We have made a tremendous to list all the prices correctly based on the info that the FCM provided. We will update our pages accordingly. We have made a comprehensive coverage of X Trader and in the near future we will add TT net content. It is phenomenal that you guys have made a product that is accessible to all futures traders!
Thank you,
Matt Z
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
i am keen to move to nextrader - at the moment I spend about $600 total fees a week trading futures with interactivebrokers. I wonder what my TOTAL fees would be with be with a futures broker hooked into trading technologies.
i guess i am right in thinking TT doesnt connect with IB , what with the litigation and all?