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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (4512)	9/30/1999 9:02:00 AM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 18137

Do you have any problems with RT3? Which version do you use? Do you have a relationship with Townsend? I would like to suggest some fixes for their software. By and large I like it, but it has some small but annoying glitches that never seem to get fixed (I'm using the 3rd version since I started using it). Now that I think of it, they did fix the "links" so they could be saved on the page (before you had to relink every time you opened the program). Thanks for the link. Matt

To: Eric P who wrote (4512)	9/30/1999 9:34:00 PM
From: scanshift	Read Replies (2) \| Respond to of 18137

Eric I have a problem with your timeline for the Executioner. Some background information first. When I formed Terra Nova Trading with Jerry Putnam in late 1994, I had already met with Townsend Analytics and they agreed to program my software invention, SCANSHIFT to run on Real Tick. The three of us became partners in the project in the summer of 1994. Scanshift was released for Real Tick at the 1994 FIA Expo in Chicago held in late 1994, and it was mentioned in Gibbons Burke column in Futures. io.com In 1995, Lewis Borsellino, a man who was a friend of mine from the S&P 500 pit and one of the original SCANSHIFT users (he was quoted discussing the positive aspects of SCANSHIFT in a Dow Jones wire story in 1995) became a principal in Chicago Trading and Arbitrage, an entity that was based on my efforts to get involved in electronic trading for the public. However, a police shakedown orchestrated by Putnam against me that I discussed in detail back on the MB Trading thread last year, led to the "holy war" that you have referred to in your private e-mails to me. The bottom line, is that Chicago Trading and Arbitrage which was located at 318 W Adams, 16th floor, in Terra Nova's and Archipelago's offices, was where Real Tick made its beginning with the public, not through the Executioner. As you and others on this thread fail to appreciate, the Executioner is only a branch office of Terra Nova. Terra Nova and Chicago Trading and Arbitrage led the way for the Executioners and the MB Tradings of the world to get their start. From my personal experiences with Real Tick, you need to do some more homework about how "widely spread" the program is with hedge funds, institutions and other large traders around the world. I installed Real Tick with SCANSHIFT in a couple of the top five hedge funds offices in 1994 and 1995, and the feedback we received was that SCANSHIFT was a most useful tool for their traders, but that the Real Tick platform was most unreliable compared to the Reuters or Dow Jones Telerate platforms that they had. There were consistent problems with the TA_SRV part of Real Tick. Maybe this explains why in early 1995 Townsend had less than 1500 (fifteen hundred platforms) in use, while Reuters had 325,000+ (three hundred twenty five thousand). Dow Jones Telerate had an excess of 100,000 (hundred thousand) platforms, Bloomberg had an excess of 80,000 platforms, and their were others (Track Data etc.). What platforms do you think were being used by all the SOES rooms up until 1995? It was not Real Tick. Contact Reuters and check out what their monthly fee is for a terminal. Then check out the monthly fee for Real Tick. You will notice a significant difference. The difference comes down to quality, and all the major hedge fund traders I know, use Reuters and Bridge, not Real Tick for that quality factor. As far as the current public daytraders, the consistent feedback I get is that Cybercorp and especially their Cyber X product has been taking the public daytrading community by storm. Looking at Cybercorp's rate structure versus the Executioner, I can understand why for at least one reason.