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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Holt who wrote (4739)	5/28/1999 7:13:00 PM
From: -	Read Replies (2) \| Respond to of 7382

Holt, Regarding your direct access link to Cyber, will that just allow your traders to hit ARCA bid/offers from outside the ECN, or are you actually offering direct access to the inner workings of the Archipelgo ECN, equivalent to MBT and the X? If you are actually offering direct access to the full capabilities of ARCA to work your trader's orders, that would be big news, since to date there have only been two direct-access firms in the country, MB Trading, and the Excecutioner, that have that capability. However, just having a link to "hit" ARCA orders isn't that big of deal. When I was on Cyber (a short while ago), the fills were often very difficult to come by, compared to trading at MBT using ARCA. Partially, this was due to a very sluggish period for Selectnet (they have issued statements indicating they're "having technical problems, pending network upgrades"). Not trying to spread any misinformation, just the truth as I directly experienced it. The customer service people at Cyber were very "nice" and attempted to look into my frustration with getting quick fills comparable to ARCA, but to a person, no one at CyberCorp really seem to understand the nuances of the different ECNs at all. Many times, they cheerfully promised to "look into" my questions about poor ECN performance (over several weeks), but never did get back to me, so I eventually bailed and left - well, I tried to. It took over a month to get my funds out, as I mentioned in the prior post. Another problem I experienced with Cyber, was the software frequently goes down and locks up during the day. This has been widely reported as a major problem with CyberTrader (over at www.elitetrader.com, and here on Si Investor) it seems you have to have the perfect Tier 1 ISP to run the software reliably. I'm setting on a commercial-grade T-1 line into a very strong ISP (their packet loss reports are on the web at www.walltech.com), and have no problem with RealTick. I will give Cyber kudo's for designing a great piece of software - many of the individual features are superior to RealTick. The charting isn't near as good, but other, more important features are superior. Unlike some on these threads, I'm not out to trash anyone unfairly. Every brokerage will have their niche of customer-types that they appeal to. Regards, -Steve