Best Thread CMC Markets owner answers your questions

[Benny Dorm]

...Better than bankruptcy.

LOL

but with Ashley at the helm, anything is possible!

Sorry, ...er, back to thread!

Sorry, back to excellent thread!!

 

[PC at CMC Markets]

hi benny

I think it is good business £35million quid in the bin think you can buy Nicklaus Bendtnor for £34million and still have £1million left. If you like can arrange the transfer for you.

ha ha
pc

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.............

 

[PC at CMC Markets]

Hi Mike
Thanks for posting. Not likely to have something like that short term. However, you can monitor the markets with your iphone app and close positions or monitor markets if you are stuck in that meeting.

thanks peter #

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



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,

 

[Ross Spur]

hi benny

I think it is good business £35million quid in the bin think you can buy Nicklaus Bendtnor for £34million and still have £1million left. If you like can arrange the transfer for you.

ha ha
pc

I'm on the market for only £30m, if you're interested.

 

[PC at CMC Markets]

sorry Ross too late have arranged the Bendtnor deal already for Benny and Ashley. Sounds like an ice cream doesn't it. you missed the dead line by a few minutes. Now you know what Harry Rednapp feels like.

ha ha

I'm on the market for only £30m, if you're interested.

 

[Ross Spur]

sorry Ross too late have arranged the Bendtnor deal already for Benny and Ashley. Sounds like an ice cream doesn't it. you missed the dead line by a few minutes. Now you know what Harry Rednapp feels like.

ha ha

OK, make it £20m? Anyway, I'd much prefer to find out what Harry Redknapp's daughter-in-law, Louise, feels like, if that can be arranged.

 

[PC at CMC Markets]

Hi Pman

Thanks for your post and interesting way of getting me to respond. I saw your posting last night but I didnt reply because i was tired and i wanted to think about my answers. Plus the wife was going out last night so I had to get my own chilli and baked potato. You dont know how tough it is at the top mate. Mind you had control of t.v remote and was channel hopping all night. Heaven.

So here goes.
1. There have been some excellent question, not all light weight and even black swan came back and admitted that. Happy to respond to all sensible questions.
2 and 3. I wanted to build a top trading platform for clients built on execution, precision pricing, speed and generally to match up to what the banks offer to us
when we want to trade. To be honest I do not feel that the spread bet industry has evolved strongly enough over the years. I cringe when I see cash back offers,
head line spreads, fill or kill tickets, ticket time outs. I think that financial spread betting has to grow up and compete with exchanges, until this happens then
spread bet firms will use special offers, head line rates etc. to attract business. It is clear to me that the majority of spread bet clients just want a competitive, transparent,
reliable betting service where they can trade quickly and trade on real prices and not head line prices.
What I have done is build a strong robust reliable trading platform that I think does all of that. I think by releasing next gen technology we are drawing a line in the sand
and saying this is how spread betting is going to be. No more head lines, click and trade on precision pricing. It will take time for the spread bet clients to evolve but
for me this has to be the way forward. As time goes by over the coming months and year you will see what I mean. Spread bet firms will have to improve on technology
and pricing and execution because I believe we have set the new standard. I agree that next gen does not have all the bells and whistles that spread betters
want but that is only a matter of time. Watch this space, you heard it here first.
thanks for your posting.
regards Peter

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:

 

[PC at CMC Markets]

Hi Ross
well you have to compete with Jamie there and I have got a feeling that would be difficult for you.
£20 million you are selling yourself short...

cheers pc

OK, make it £20m? Anyway, I'd much prefer to find out what Harry Redknapp's daughter-in-law, Louise, feels like, if that can be arranged.

 

[Black Swan]

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.

Hi Mike,
On a separate thread reactions/experiences to the new platform were invited, this thread imo is more of a general discussion on cmc, and or Peter's views on his industry, not just limited in its scope to the platform *questions*.

 

[Jack o'Clubs]

Peter (since it is he ),


I’d use spreadbetting more often if there was an option to adjust the leverage. I generally trade stocks and futures, and I don’t need 20x gearing (or whatever CMC currently offers) on equities – I go through a DMA broker who allows 2-3x which is fine. More to the point, I don’t want to pay LIBOR+3% financing charges on leverage I don’t need. Are finance charges too important to your P&L for you to consider changing, or is allowing clients the option to tune their leverage a possibility?


Thanks.

 

[arabianights]

yep.... frankly I'd be very interested if you could offer a completely non leveraged package... deposit £481, go long bp £1pp kinda thing...

 

[PC at CMC Markets]

hi jack

interesting point. will speak to the team.
on your point on financing no it is not that relevant to us as a company in terms of pnl
although it does contribute to bottom line. what we really want are flows. that is why we created next gen.
regards peter

Peter (since it is he ),


I’d use spreadbetting more often if there was an option to adjust the leverage. I generally trade stocks and futures, and I don’t need 20x gearing (or whatever CMC currently offers) on equities – I go through a DMA broker who allows 2-3x which is fine. More to the point, I don’t want to pay LIBOR+3% financing charges on leverage I don’t need. Are finance charges too important to your P&L for you to consider changing, or is allowing clients the option to tune their leverage a possibility?


Thanks.

 

[Ross Spur]

Been trying the demo again. The charts still make my eyes/brain hurt. Some people may like dark backgrounds, but I can't see why anyone would want candles with no clear borders that float indistinctly in the blackness.

PS. And yes, I have visited an optician recently.

 

[gle101]

Hi Mike,
On a separate thread reactions/experiences to the new platform were invited, this thread imo is more of a general discussion on cmc, and or Peter's views on his industry, not just limited in its scope to the platform *questions*.

Really, and you are the man to decide this, if this is the case, it is a total bore if you ask me.

 

[PC at CMC Markets]

Hi Ross
thanks for having another look. There are some clients that do not like dark back ground charts but on the whole new charts seem to be liked by most. But I do accept your point. One day all charts will have dark back ground......

pc

Been trying the demo again. The charts still make my eyes/brain hurt. Some people may like dark backgrounds, but I can't see why anyone would want candles with no clear borders that float indistinctly in the blackness.

PS. And yes, I have visited an optician recently.

 

[PC at CMC Markets]

Hi Ross
by the way well done on being the first person on page 100 seems we are still friends after all these pages. ha ha

pc

Been trying the demo again. The charts still make my eyes/brain hurt. Some people may like dark backgrounds, but I can't see why anyone would want candles with no clear borders that float indistinctly in the blackness.

PS. And yes, I have visited an optician recently.

 

[gle101]

Hi Ross
thanks for having another look. There are some clients that do not like dark back ground charts but on the whole new charts seem to be liked by most. But I do accept your point. One day all charts will have dark back ground......

pc

May I ask why? I have got white background on all my charts, tried black charts, but don't feel comfortable with it. Friends, yes I hope so, ha ha.

 

[PC at CMC Markets]

hi gle101
I think because when you look at ipad and iphone and smart devices like tablet and blackberry dark back ground charts works better across them especially when you have different coloured studies and pattersn etc.generally speaking. I am sure as time goes by most of the industry will be trading from mobile devices rather than desk top computers.

this is just my opinion. I am happy if you disagree because you might be right. I expect at some stage we will add colour features so you can have light back ground but we are probably six months away from that. in next release you will be able to print with white back ground. that should be available in next month or so.

tks pc

May I ask why? I have got white background on all my charts, tried black charts, but don't feel comfortable with it. Friends, yes I hope so, ha ha.

 

[gle101]

hi gle101
I think because when you look at ipad and iphone and smart devices like tablet and blackberry dark back ground charts works better across them especially when you have different coloured studies and pattersn etc.generally speaking. I am sure as time goes by most of the industry will be trading from mobile devices rather than desk top computers.

this is just my opinion. I am happy if you disagree because you might be right. I expect at some stage we will add colour features so you can have light back ground but we are probably six months away from that. in next release you will be able to print with white back ground. that should be available in next month or so.

tks pc

I agree, on smaller devices black charts gives a more startling appearance, on a larger screen though, I think white is more soothing for the eye. There are definitely some traders that prefers having a black background though.

 

[Ross Spur]

Hi Ross
by the way well done on being the first person on page 100 seems we are still friends after all these pages. ha ha

pc

Thanks - do I win a prize?

Like the piles of paper surrounding me, my phone has a white background and black text. Would anyone choose to read a book with white writing on black paper?

If you have to stick to dark backgrounds, why not at least put an outline on candles? At the moment they seem to have faded edges, which doesn't make much sense.

On another tack, is there any way of making the next gen MACD look more 'normal'