Best Thread CMC Markets owner answers your questions

[Ross Spur]

What's interesting about this thread is that there are obviously aspects of the platform that some feel are important, but are of no consequence to others, and vice versa. You can't please all the people all the time. Almost makes me feel sorry for spread bet companies.

 

[Black Swan]

What's interesting about this thread is that there are obviously aspects of the platform that some feel are important, but are of no consequence to others, and vice versa. You can't please all the people all the time. Almost makes me feel sorry for spread bet companies.

I see this thread from a different viewpoint, here you have one of the movers and shakers in the industry, glad to answer questions from all angles in good humour, and all most of you can drum up is lightweight questions, (over and over again,) about "will the platform do this, the platform is a bit dark in my cave, can you curve the edges, can you alert me for coffee breaks, it'd be much better if I could have the ithcy and scratchy raincloud overlapped with my devilled egg pitchfork, then I might think about opening a demo account, but only if you give me a free 2 hundred quid offer, a pen, and a cmc baseball cap.."

...Dukas has (IMHO) one of the worst platforms on the planet, wouldn't stop me attempting to take money out of the market using their platform..Now I realise that's an FX specific company but..Anyhow..you get the message..

 

[Jack o'Clubs]

I see this thread from a different viewpoint, here you have one of the movers and shakers in the industry, glad to answer questions from all angles in good humour...

You really think Peter Cruddas is replying - that's so sweet! Christmas must be lovely round at your house, what with you still believing Santa delivers the presents.

 

[trader_dante]

My 2 cents on CMC.

I loved the old platform (Market Maker).

I haven't migrated to the new one yet and not sure if I will do.

I've had good customer service from CMC and never suffered from anything dubious in terms of "spikes/data errors" or unnecessary slippage etc.

I've probably had a few more requotes than normal but not enough to upset me.

The reason CMC is not my first choice platform is because of the quote widening on the Sunday open.

I prefer a fixed spread for obvious reasons and many brokers will offer them. I should note that I am not blaming CMC for this as the market liquidity can result in spreads widening.

However, Sunday night, I was quoted 0.9883 to buy the Aussie. When I hit buy, I got a requote (fine) but then the quote became 0.9883 - 0.9907 which is somewhat of a joke in and of itself but definetly puts me off when my other brokers can hold this at 83-85.

Maybe those brokers are in the "wrong" in terms of what is happening in the underlying...but that doesn't change the fact that you trade where (and with whom) you have the advantage.

 

[arabianights]

You really think Peter Cruddas is replying - that's so sweet! Christmas must be lovely round at your house, what with you still believing Santa delivers the presents.

I think he is, actually... If it were an minion I think the grammar etc would be a lot more formal... maybe I'm wrong...

 

[Black Swan]

You really think Peter Cruddas is replying - that's so sweet! Christmas must be lovely round at your house, what with you still believing Santa delivers the presents.

nline2lo top cynicism there buddy..you need to get out more.

 

[Ross Spur]

I think he is, actually... If it were an minion I think the grammar etc would be a lot more formal... maybe I'm wrong...

Although I'm still coming to terms with the news that Santa and the Tooth Fairy might not exist, I do think it's the real McCoy Cruddas patiently answering dumb questions on here.

 

[PC at CMC Markets]

hi arabianights.
Happy to film me typing at 80 words per minute, typing my replies to convince all you cynics out there. I did try to find some body to answer for me but couldn't find an Arsenal supporter amongst my staff, they are all Tottenham supporters. Never told us that at the interview. ha ha

I can confirm that I have typed and responded 100 percent to every post on this site.
jackoclubs makes one posting and it is negative one. come on jackoclubs lets start off on the right note and say some thing positive even if it is about one of our competitors. I can live with that.

regards Peter

I think he is, actually... If it were an minion I think the grammar etc would be a lot more formal... maybe I'm wrong...

 

[PC at CMC Markets]

Hi Ross
100 percent right but not patiently typing away because I can type 80 words per minute, all fingers and without looking at key board. I type all of my own emails and postings always have done since they invented emails. My first job was as a telex operator so banging out 50 to 100 emails/posts per day is nothing to me.

why don't you come round here and film me typing away... you are welcome and bring jackoclubs with you..

regards peter

Although I'm still coming to terms with the news that Santa and the Tooth Fairy might not exist, I do think it's the real McCoy Cruddas patiently answering dumb questions on here.

 

[PC at CMC Markets]

trader_dante Hi there and thanks very much for your posting.
I presume you are cfd trader because we do not re-quote on next gen. Anyway I have asked the dealers to look into the Sunday night quotes situation because there is really no reason for this to happen.

regards Peter

My 2 cents on CMC.

I loved the old platform (Market Maker).

I haven't migrated to the new one yet and not sure if I will do.

I've had good customer service from CMC and never suffered from anything dubious in terms of "spikes/data errors" or unnecessary slippage etc.

I've probably had a few more requotes than normal but not enough to upset me.

The reason CMC is not my first choice platform is because of the quote widening on the Sunday open.

I prefer a fixed spread for obvious reasons and many brokers will offer them. I should note that I am not blaming CMC for this as the market liquidity can result in spreads widening.

However, Sunday night, I was quoted 0.9883 to buy the Aussie. When I hit buy, I got a requote (fine) but then the quote became 0.9883 - 0.9907 which is somewhat of a joke in and of itself but definetly puts me off when my other brokers can hold this at 83-85.

Maybe those brokers are in the "wrong" in terms of what is happening in the underlying...but that doesn't change the fact that you trade where (and with whom) you have the advantage.

 

[PC at CMC Markets]

Hi Black swan

Thanks for taking the time to post. I really am very happy to answer all questions. I know some of the points are minor but it helps to get feed back from every body. All posts are passed onto the team and they will look at everything.

many thanks Peter

I see this thread from a different viewpoint, here you have one of the movers and shakers in the industry, glad to answer questions from all angles in good humour, and all most of you can drum up is lightweight questions, (over and over again,) about "will the platform do this, the platform is a bit dark in my cave, can you curve the edges, can you alert me for coffee breaks, it'd be much better if I could have the ithcy and scratchy raincloud overlapped with my devilled egg pitchfork, then I might think about opening a demo account, but only if you give me a free 2 hundred quid offer, a pen, and a cmc baseball cap.."

...Dukas has (IMHO) one of the worst platforms on the planet, wouldn't stop me attempting to take money out of the market using their platform..Now I realise that's an FX specific company but..Anyhow..you get the message..

 

[tar]

why don't you come round here and film me typing away... you are welcome and bring jackoclubs with you..

regards peter

 

[Jack o'Clubs]

hi arabianights.
Happy to film me typing at 80 words per minute, typing my replies to convince all you cynics out there. I did try to find some body to answer for me but couldn't find an Arsenal supporter amongst my staff, they are all Tottenham supporters. Never told us that at the interview. ha ha

I can confirm that I have typed and responded 100 percent to every post on this site.
jackoclubs makes one posting and it is negative one. come on jackoclubs lets start off on the right note and say some thing positive even if it is about one of our competitors. I can live with that.

regards Peter

Black Swan was right – I need to get out more. Pays to be cynical in this game though, as I’m sure you found when negotiating with GS a few years back...

FWIW, I do have a CMC account, but don’t spreadbet that much as for the holding periods I use the financing charges are too high, the spreads too wide, and I don’t need the additional leverage. Hope you get to list during 2011, would be great for the members of this board to see a prospectus and understand exactly how the business model works. I won't butt in again on your thread, have fun.

 

[PC at CMC Markets]

Hi jackoclubs.
you are welcome here any time.

regards Peter

Black Swan was right – I need to get out more. Pays to be cynical in this game though, as I’m sure you found when negotiating with GS a few years back...

FWIW, I do have a CMC account, but don’t spreadbet that much as for the holding periods I use the financing charges are too high, the spreads too wide, and I don’t need the additional leverage. Hope you get to list during 2011, would be great for the members of this board to see a prospectus and understand exactly how the business model works. I won't butt in again on your thread, have fun.

 

[PC at CMC Markets]

 

[Physicsman]

Hi PC,

With reference to Black Swan's post about all our questions being lightweight - I can't think of any heavy weight questions that are relevant. The best I can come up with are the following:

1. 
   Are there any questions you wanted us, your clients and prospective clients to have asked, and if so what is it and your answer to it?
   
2. We already know about the instant execution and no re-quotes, which is an excellent thing to happen for spreadbetting. Now that you have built a system with a backend similar to Goldman's Redi, there must be a lot more that can be leveraged from such a back end that would be helpful for CMC clients in their trading?
   
3. How do you see the Spreadbetting industry as a whole developing over the next few years, or at least what are your plans for CMC?

Not great I know, but at least not as lightweight as before! :cheesy:

 

[Black Swan]

Hi PC,

With reference to Black Swan's post about all our questions being lightweight - I can't think of any heavy weight questions that are relevant. The best I can come up with are the following:

1. 
   Are there any questions you wanted us, your clients and prospective clients to have asked, and if so what is it and your answer to it?
   
2. We already know about the instant execution and no re-quotes, which is an excellent thing to happen for spreadbetting. Now that you have built a system with a backend similar to Goldman's Redi, there must be a lot more that can be leveraged from such a back end that would be helpful for CMC clients in their trading?
   
3. How do you see the Spreadbetting industry as a whole developing over the next few years, or at least what are your plans for CMC?

Not great I know, but at least not as lightweight as before! :cheesy:

Not all the Q's have been lightweight.

 

[montmorencyt2w]

hi arabianights.
Happy to film me typing at 80 words per minute, typing my replies to convince all you cynics out there. I did try to find some body to answer for me but couldn't find an Arsenal supporter amongst my staff, they are all Tottenham supporters. Never told us that at the interview. ha ha

Perhaps you should send them off to be volunteers on "The Apprentice" ...

I can confirm that I have typed and responded 100 percent to every post on this site.
jackoclubs makes one posting and it is negative one. come on jackoclubs lets start off on the right note and say some thing positive even if it is about one of our competitors. I can live with that.

Having read up a little about you after you started posting here, I would venture to suggest that you didn't get where you are by being just the same as every other City boss.

And to Black Swan, I would say that in all fairness to T2W posters, Peter did specifically ask for people's reaction to the new platform, so it's hardly surprising if people have done exactly that.

Back to Peter, if I may ask a hopefully serious question:

Is it / would it be possible to have a trade on that could be set to close at a specified time/date (assuming that its stop-loss or take-profit hadn't already been hit)?

I can see 2 or 3 uses for this:

1. Say you are trading a few hours before an economic news event. You want to take advantage of any pre-news moves, but you don't want to get killed by the actual news event, so you set it to close, say, 15 minutes before the announced time of the event.

2. Similarly, you are happily trading away, but get called to a meeting which goes on for longer than normal, or to handle some crisis or other. Either you don't want to close it then, or you forget, but in any case, you don't want to leave it at the mercy of the market for an indeterminate time, so better to close it by a set time, even at a loss.

3. To avoid leaving day trades running overnight by accident.

It's normal on SB platforms for orders to open to be able to be set either GTC or to expire at a certain time, but I don't think I've seen a way of either opening or closing a trade at a set time, unless I've missed something obvious. Perhaps it can be done by indirect means.

Thanks,

 

[Benny Dorm]

Hi Peter,
If you don't win 0-5 on Saturday at SJP (now known as Sid James' Park) I would guess your team will be disappointed.
We were rubbish tonight - relegation looms.............

 

[Ross Spur]

Hi Peter,
If you don't win 0-5 on Saturday at SJP (now known as Sid James' Park) I would guess your team will be disappointed.
We were rubbish tonight - relegation looms.............

...Better than bankruptcy.