Nicholas, He's talking about "REAL" order entry; not the browser-based stuff. And yes, I still use the browser-based stuff myself. I'm assuming that it would be something like CyberTrader/CyberX or Real-Tick III. I've heard mixed feedback, but using this kind of order entry system is supposed to help improve order entry speed.
Take a look at CyberX from CyberCorp - cybercorp.com. I don't like the way that they have wasted space in the user interface, I don't like their charting and analytical tools and I'm not comfortable with their cost structure, but the Order Entry/Order management functionality looks pretty slick.
I'd hope that Quote.com can provide something like this without the pretty bitmap graphics. I'd like it to have the ability to work with any broker that I went with. I.e., I choose the data supplier, analysis tools and order entry tool and move it from broker to broker as necessary. That's probably not feasible now, but one can hope.
The market is ripe for a better vendor now. CyberTrader/CyberX are interesting, but you are locked into CyberBroker and they don't have the ability for software developers to access their data and services. Townsend Analytics (developer of RealTickIII) is supposed to be somewhat arrogant and I'm not impressed with their software. Also, I understand that their fees are pretty high.
QCharts has a lean, elegant user interface and the QFeed data is pretty stable. With a well written order entry module, Quote.com would have an excellent offering to many brokers that are looking for another alternative.
I'm interested in hearing from others about what they want in an Order Entry module. I suspect that Gibbons and Chris would like feedback as well.
What do you think a good Order Entry module needs? For instance... What kind of features? Is order management also important? How should the order price be set? From LII? Some user entered algorithm? Should you be able to enter an order automatically based on a pre-configured "alert"? Let's discuss this.
Regards,
Dan. |
