Refco and TT dispute

$spreader

Member
61 7
Was looking through TT's website www.tradingtechnologies.com and saw that TT have discontinued service to Refco.While this may be old news to many of you I was still surprised.
Can anyone shed any light on this without the risk of legal action?
How do the traders feel about it and have many left?I'm sure TT was used a lot there and was wondering what traders using that switched to?
 

rog1111

Established member
673 10
LInks :

http://www.tradingtechnologies.com/news/050504_TTRefcoMemo.pdf

http://www.tradingtechnologies.com/news/050510_TTRefcoFollowUp.pdf



$spreader said:
Was looking through TT's website www.tradingtechnologies.com and saw that TT have discontinued service to Refco.While this may be old news to many of you I was still surprised.
Can anyone shed any light on this without the risk of legal action?
How do the traders feel about it and have many left?I'm sure TT was used a lot there and was wondering what traders using that switched to?
 

PualoP

Well-known member
402 34
Does this mean that all the umbrella companies no longer have access to TT as well?
 

charliechan

Experienced member
1,008 119
refco prop now use refco pro (easy screen as it used to be called).

refco will win this case as their fron end was based around the tokyo stock exchange prop platform, not tt. this means tt will be facing MASSIVE legal bills and could go under (i hope), as the rest will soon follow.

there is much more discussion on real trading topics such as this at www.elitetrader.com
 

$spreader

Member
61 7
Thanks for the info and for directing me to that website.
 

jondoe

Junior member
38 1
I'm over at Refco (RTS) and have been on the Refco Pro platform for about 3 weeks now and to be totally honest I am starting to like it. At first I found it hard and all I wanted to do was get TT back, but after a week or so on the PRO system I am not really bothered any more. There are still a few teething problems but I used TT for 4 years and I had lots of poblems with them during that period.

Overall things arnt as bad as I thought and hopefully things can only get better.
 

nohare

Junior member
10 0
$spreader said:
Was looking through TT's website www.tradingtechnologies.com and saw that TT have discontinued service to Refco.While this may be old news to many of you I was still surprised.
Can anyone shed any light on this without the risk of legal action?
How do the traders feel about it and have many left?I'm sure TT was used a lot there and was wondering what traders using that switched to?
TT pulled there service from Refco because they believed the Refco pro software that had been developed has some TT patented ingredients in it. Refco, with the number of traders they have, will make much more profit if all there traders are forced to stop using TT and 'encouraged' to use Refco pro.....(wonder whos idea it was ??)
Initially most traders were gutted about having to use another front end but it seems they are coming round. Hopefully the markets will start to have really busy periods and Refco pro will be tested properly.....(and crash and burn).
 

$spreader

Member
61 7
It is definitely a weird situation - I was shocked when I found out,I mean TT can't discontinue service to too many companies or they won't have any users left!!
On the other hand I bet Refco's traders were sending a lot of money TT's way so it kind of makes sense if they can develop their own platform and pocket that every month as well.
From what I hear though TT are not known to shy away from legal cases and it seems crazy to instigate a legal battle against a company as powerful as Refco without really good advice.
 

nohare

Junior member
10 0
$spreader said:
It is definitely a weird situation - I was shocked when I found out,I mean TT can't discontinue service to too many companies or they won't have any users left!!
On the other hand I bet Refco's traders were sending a lot of money TT's way so it kind of makes sense if they can develop their own platform and pocket that every month as well.
From what I hear though TT are not known to shy away from legal cases and it seems crazy to instigate a legal battle against a company as powerful as Refco without really good advice.
TT only discontinued there service to Refco because of the patent infringements. Not everyone is going to suffer in the same way. I know TT are pretty confident of winning their legal battle but even if they dont i doubt it will put much of a hole in Harry Brumfield's 400-500 million dollar pockets!!
Check out this site its an interesting read to see how Brumfield's mind works.
www.tradingtechnologies.com/news/050400_TraderMonthly.pdf
Cheers Nohare
 
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$spreader

Member
61 7
Great link - it will be interesting to see how it all develops - it's just a shame that it's the traders who are being used as the pawns in the game.
 

SHarrison

Junior member
18 0
as far as im aware, the refco pro system is basically easyscreen's easy active trade (eat)? in light of tt's problems with refco, they went shopping elsewhere and there were talks of takeovers of easyscreen although im not too sure where that is at right now.

ive used eat in its early stages and it was not the most stable although recent trials show it to be better, mainly due to the constant feedback from refco traders so im sure it will be up withh tt soon.