I can recommend OpenEcry.

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LeapFrog
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I can recommend OpenEcry.

Post by LeapFrog » Tue Jan 24, 2006 2:18 pm

I've used a number of brokers in the past. These guys are the best I've used. Very good service. Their platform has an Instant Messaging feature which I like very much - saves a lot of phone calls.

Their platform trades pit and electronic from the one account. Competitive rates (meaning you negotiate them based on your volume). What I like most about them is that when there are problems (and there always are with futures trading and every broker) OEC fixes them. I really feel they are on my side - all the previous brokers I felt like I had to fight them on everything. Not with OEC. Anyway, enough, PM me if you want a personal referral.

Here is their web site:

http://www.openecry.com/

Leapfrog.

RedRock
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Post by RedRock » Tue Jan 24, 2006 6:57 pm

I'm presuming (there I go again) they are an IB. So who really is executing the trades and sending the statements? Man? cargil? etc etc?

Do they allow LME trading? How about on SOFFEX swiss bond?

I think man definitely could stand a better order entry platform with time features for the hours you want an electric exchange order to be working. For example, I want to be able to place ecbot I-rate orders tonight, but only have them active the next morning for the "day" session. Same with eurex. I hate having to wait up till 2am my time to enter orders on eurex. YES, I could call them in and go to bed. But cant enter them electronically till eurex opens.

I should add they send all currency and rate orders to the computers. They wont let a "small" account send orders to those pits. Or what remains of those dying pits.

Living on the west coast would help with the time shift, but isnt an option for a few more years...

Working the night shift,
rr

LeapFrog
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Post by LeapFrog » Tue Jan 24, 2006 7:49 pm

RedRock wrote:I'm presuming (there I go again) they are an IB. So who really is executing the trades and sending the statements? Man? cargil? etc etc?

Do they allow LME trading? How about on SOFFEX swiss bond?

I think man definitely could stand a better order entry platform with time features for the hours you want an electric exchange order to be working. For example, I want to be able to place ecbot I-rate orders tonight, but only have them active the next morning for the "day" session. Same with eurex. I hate having to wait up till 2am my time to enter orders on eurex. YES, I could call them in and go to bed. But cant enter them electronically till eurex opens.

I should add they send all currency and rate orders to the computers. They wont let a "small" account send orders to those pits. Or what remains of those dying pits.

Living on the west coast would help with the time shift, but isnt an option for a few more years...

Working the night shift,
rr
You can see the products they offer on the their web site - I don't trade Europe but I don't think they have LME but they do have some Eurex stuff. They are an FCM (not an IB, FWIW) and their clearing firm is Rand Financial).

RedRock
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Post by RedRock » Tue Jan 24, 2006 8:57 pm

Rand was started by Monroe Trout of Market Wizzards fame. Mainly, the rumer went, to clear his own business. Ecry sounds like a nice outfit, but wont do it all for me.

Technically, they are an IB for Rand, which is the FCM.

See this. http://invest-faq.com/articles/trade-intro-broker.html


Best wishes...

LeapFrog
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Post by LeapFrog » Tue Jan 24, 2006 10:32 pm

RedRock wrote:Rand was started by Monroe Trout of Market Wizzards fame. Mainly, the rumer went, to clear his own business. Ecry sounds like a nice outfit, but wont do it all for me.

Technically, they are an IB for Rand, which is the FCM.

See this. http://invest-faq.com/articles/trade-intro-broker.html


Best wishes...
Actually, technically, they are an FCM. Practically they deal with institutional and independent traders and use Rand as their clearing firm. Whatever.

"Open E Cry, LLC was formed in January 2002 and is registered as a Futures Commission Merchant (FCM) with the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)."

RedRock
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Post by RedRock » Wed Jan 25, 2006 1:16 am

LeapFrog wrote:Actually, technically, they are an FCM. Practically they deal with institutional and independent traders and use Rand as their clearing firm. Whatever.

"Open E Cry, LLC was formed in January 2002 and is registered as a Futures Commission Merchant (FCM) with the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)."

My mistake. Ok, they are a non clearing FCM. My point was they are not clearing members of the world exchanges. Which is neither here nor there... 8)

The new Pats system which integrates pit markets is very interesting! Are you using that or the in house system? I tried the original j-trader some years ago and found it glitchy. Although my satellite connection could have been a part of that.

LeapFrog
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Post by LeapFrog » Wed Jan 25, 2006 9:18 am

The new Pats system which integrates pit markets is very interesting! Are you using that or the in house system? I tried the original j-trader some years ago and found it glitchy. Although my satellite connection could have been a part of that.
I agree with you about Pats - last I looked at it was a couple years ago. I use the OEC platform. It is different than most others out there. Requires a lot of mouse dexterity. It is fine once you get used to it. Not perfect, but they continue to improve it with trader/user feedback.

In my experience, every broker has issues. For me it has come down to the relationship since most of my trading is in the pits. I want a live person who will pay me some attention when I have a problem.

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Time Release orders and recent upgrades...

Post by LeapFrog » Fri May 04, 2007 8:52 am

One of the great features of the OEC platform that I would point out is the ability to input next day orders the night before with "time to release" and
"time to cancel" attributes. This is different from parking orders where you have to fish the orders out of a bucket and send them to the broker. Each evening I type in all my orders and set the "release" time to be around 3 to 5 minutes before the Pit opening times for each of my products, or where I see the volume get serious for electronic only markets. Also, a time to "cancel" the order around Pit closing time. Then these are sent to the broker (as one batch) and held by them for release. This greatly automates the ordering process and allows me to do it all in the evening when I'm more alert and less prone to input errors which I can often do early in the morning before my second cup of coffee.

Below is an example of an order with the time settings - this can be sent to the broker at any time.

Also, another upgrade with further enhancement features coming out this weekend.

I know OEC is not for everyone, but I continue to be very happy with them - especially - and I can't stress this enough - their support. I've always found them VERY responsive to any issues that might come up.

Just my 2 cents.

Quote:
__________________________________________

OEC Mandatory Upgrade
In anticipation of or latest release of the OECTrader Version 3.1.0.16, Open E Cry is scheduling a mandatory upgrade for Friday May 4. The upgrade will contain the following enhancements:

Enhancements in Charts
Additional Toolbars added
Pivot Points added
Enhanced Pricing Engine for Quotes and Charts
Inter-product spreads support added
Initial/Maintenance Margin in Average Positions window
New Allocation Block Rules
Traders will be required to upgrade before logging in anytime after 5:30 PM ET on Friday May 4. Please prepare for the Mandatory upgrade as at your next login you will be prompted to perform the mandatory upgrade in order to continue.

If you have any questions please email support@openecry.com

Regards,

Open E Cry, LLC
800-920-5808

endQuote:
___________________________________________
Last edited by LeapFrog on Fri Jul 06, 2007 7:12 am, edited 1 time in total.

RedRock
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Post by RedRock » Fri May 04, 2007 10:03 am

Interactive brokers has the 'good after/thru time' feature also. Been using it like you are to simulate pit hours. I dont trust the overnight 'crew' with my stops :twisted:

LeapFrog
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OEC - DOM

Post by LeapFrog » Wed Jun 13, 2007 8:51 am

Some new features were added last weekend to the OEC platform. The PNG below gives you an idea. They've added a "matrix" type feature to the ladder - pretty neat - and a bid/ask histogram overlaid at each price point.

These features would be of interest, I imagine, to the scalper. I don't use it too much, but do find it handy to finesse my way into positions and save on slippage now and then.

They also introduced some DDL/auto trader features but I understand from Tim that TradingBlox cannot be interfaced with the OEC engine at this point in time.

Usual disclaimers here - not everyone is happy with OEC as a broker.

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