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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (8477)	10/6/2000 1:23:28 PM
From: TFF	Read Replies (1) \| Respond to of 12617

Not from what I hear;)

To: Jon Tara who wrote (8477)	10/6/2000 6:40:43 PM
From: Eric P	Respond to of 12617

But are Watley's clients happy? That's the real question. So far, the feedback doesn't seem to be very good, from what I hear. -Eric

To: Jon Tara who wrote (8477)	10/6/2000 10:36:54 PM
From: Gary Korn	Respond to of 12617

But are Watley's clients happy? I'm not. Gains turned to sizeable losses as soon as UT2 came online. So I fired Watley. This saddened me, because I used to love Watley's L2 feed and display. But the new Java-based UT2 is, in my opinion, horrible. Among other things, it froze my computer and the data it provided simply did not "flow" as easily as smoothly as the UT1 display. Frantic for a replacement, I moved to Cybertrader within a few days and am happy once more. (I'm sure MB would have been just as good as Cyber, but the bottom line was that I had to replace Watley, and replace it ASAP, or risk losing more money than I already had with the new system.) Gary Korn

To: Jon Tara who wrote (8477)	10/12/2000 6:06:21 PM
From: LPS5	Respond to of 12617

NYSE Adopts Industry Standard for Electronic Order System New York, Oct. 12 (Bloomberg) -- The New York Stock Exchange, seeking to upgrade its technology, said it will let member firms and their clients submit trade orders and receive confirmations electronically over a system that conforms with industry standards. The technical upgrade represents the biggest use yet of the Financial Information Exchange protocol, or FIX, by an exchange, the NYSE said in a statement. The FIX protocol was agreed upon by dealers to simplify life for their money manager clients, who previously needed a different computer code for each dealer. ``The adoption of standard protocols and the interconnection with leading global network providers will make it faster, easier and more cost-effective for our customers,'' said Robert Britz, a group executive vice president at the Big Board. Investors are increasingly placing trades electronically, often executing them in order-matching devices. The 208-year-old exchange wants to show it's keeping up with that trend, even if it still relies on the human brokers and traders on its floor. ``Adding FIX to our suite of access services addresses our customers' demands,'' said NYSE technology chief Roger Burkhardt. The new Internet-based code replaces a more costly protocol, X.25, that was used by big Wall Street firms to communicate with the exchange, according to the NYSE. ``It simplifies our operations,'' Morgan Stanley Dean Witter & Co. principal John Armstrong said in the NYSE statement. Another benefit from such technology for Wall Street is that human errors will be curtailed as the need to re-enter orders into computers at various stages in the trade process is lifted. Reaching that goal of ``end-to-end e-commerce'' or straight- through processing, will be made easier by FIX protocol, said Burkhardt, who joined the NYSE this summer after working at a trading software company called OptiMark Holdings Inc. © Copyright 2000, Bloomberg L.P. All Rights Reserved.