candlestick trading company

[newwizard]

A friend of mine has a shareholding of this company that he wants to get rid of, if anyone fancies picking up a large chunk of a trading firm with many traders let me know.

 

[PualoP]

Are they still in business? Thought they'd just quietly gone under.........?

 

[charliechan]

lol

that will be a 'no thanks' then.

 

[EurexTechy]

They are still operating.

 

[Directional]

is Arjun Rose still involved with this CTC getup? or did he leave and set Shaolin up? Maybe he still has his holding with CTC...

I went to a Shaolin "masterclass" presentation quite a while back and met Arjun, he said that CTC had turned into a bit of a churn and burn shop. If someone with a signficant shareholding (Arjun?) wants out, then I guess this is a good example of why churn & burn, high comms or desk fee, or both, is not a great long term business model for any arcade.

 

[Parky]

I think Arjun severed all ties when he set up Shoalin at STA.
Candlestick was a good local trading room, out there in Shenfield.
I expect it is feeling the pinch like alot of the other trading rooms, the market needs some consolidation so I doubt there will be many buyers, why dont the existing shareholders want to buy him out? Might tell a tale in itself.

 

[eldrechr]

I actually live in Brentwood, 5 minutes drive from Shenfield, but don't trade with them. There is a lot of competition in the area. Triniti, Turtle Futures, Chelmsford Trading Bureau, Elocal and a suboffice of STA within them (that is where i trade). The market is so saturated, even when Refco were still about i traded out of Refco Brentwood, we couldn't attract that many people from elsewhere. When Marathon Asset Management took over Refco, one of he first things they did was close the Brentwood office.

 

[EurexTechy]

Whats the competition like out there? I always thought the majority of them guys are clearing through Fortis so costs must be pretty close?

I actually live in Brentwood, 5 minutes drive from Shenfield, but don't trade with them. There is a lot of competition in the area. Triniti, Turtle Futures, Chelmsford Trading Bureau, Elocal and a suboffice of STA within them (that is where i trade). The market is so saturated, even when Refco were still about i traded out of Refco Brentwood, we couldn't attract that many people from elsewhere. When Marathon Asset Management took over Refco, one of he first things they did was close the Brentwood office.

 

[eldrechr]

Elocal clear STA,(then MAN) and there is an STA suboffice within them. I am there and know that the rates are about standard. Limits in my place are great, so is info. We have a very good office manager, who really fights our corner.

Turtle definately clear Fortis, rates about the same as ours, but i don't know about all the others.

I have been a local now since 2000 on screens, and i don't just think it is about rates, what i am more interested in is newsflow, it support, broking desks, desk costs, limits, flexible risk manager. And i am more than happy in those departments.

 

[EurexTechy]

I couldn't of put it better myself, systems and support is very important

 

[PualoP]

I couldn't of put it better myself, systems and support is very important

Again, I must agree. Shame Eurex can't work to the same professional standards, absolute bunch of jokers

 

[eldrechr]

ain't that the truth...

 

[EurexTechy]

Whats the beef with Eurex?

 

[Directional]

slowdowns, crashes & failures... inefficient core exchange systems basically

 

[eldrechr]

Longer hours... f@cked everyone over with regard to the flipper. Fine of 1000 euro's if you clip your own order, but it is alright for others to flip 5000 without it trading. How's that for a start?

 

[eldrechr]

the amount of slowdowns this year has been ridiculous, plus during the summer, the exchange must have gone down on 4 or 5 seperate days.

 

[PualoP]

Whats the beef with Eurex?

Hello EurexTechy, do you work for Eurex in technical support by any chance?

 

[Directional]

we're talking serious slowdowns... like pulling an order and it taking 20 seconds or so to come out of the book when it gets busy. And when its busy is when you need the exchange to be at its fastest most of all because thats when you can get hurt worst of all if something goes wrong.

Add to that the slow quotes - the heartbeat is a joke, archaic 128kpbs gateway infrastructure - netting of depth updates into 250ms snapshots is crapola compared to LIFFE, CME, CBOT, even ICE and their shocking API and tinpot distributed matching architecture are better than Eurex.

I hear Communicating Ltd have a ready made exchange matching solution that would cost less to implement than it costs Eurex to maintain the existing systems, and would work massively faster - benchmarked independently by FOW at 22,000 complex matches per second running on a bog-standard laptop PC. But Eurex insist on lumbering on with their existing dinosaur of a platform claiming its "superior technology" when any *real* trader would snort derisively at that proclamation. And its getting worse, not better.

 

[eldrechr]

The worst i ever saw was the March IFO number, i lost 40,000 euros due to slowdowns. Just couldn't hit anything. Took in excess of 40 seconds for my orders to hit the market, but by the then the market had moved massively.

 

[Directional]

The worst i ever saw was the March IFO number, i lost 40,000 euros due to slowdowns. Just couldn't hit anything. Took in excess of 40 seconds for my orders to hit the market, but by the then the market had moved massively.

if you take a hit in the course of normal trading thats fine & part of the process, trading is hard enough without also having to fight the exchange, who should be your friend! someone should sue them for hits like that, maybe they'd take notice and do something about their sh!t systems.