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MB Trading Futures - Introduction

  • #2,841
  • Jan 4, 2009 12:26pm Jan 4, 2009 12:26pm
Quoting duxis
hi Justin , good news and great improvement your MT4 offer.

Still in beta-test ?
Any estimation of time before operating with this platform ?

All marketmakers have to tremble (the "big one" from El Segundo, CA) ,2009 should be your year, keep us informed.
With regards to MT4, it is still in beta, but if you are interested in becoming a LIVE Meta Beta tester, we are taking a handful of people to start. Please email me at [email protected] with your contact information and a brief description of your MT experience and someone will contact you within 24 hours to follow up.
  • #2,842
  • Jan 4, 2009 12:30pm Jan 4, 2009 12:30pm
Quoting charlinks
That is great news. I never understood why they didn't do that earlier.

Technically to provide MT4 support all they need to do is pay a licensing fee for the server and hook it up to their liquidity providers. (I doubt the licensing fee was the issue)

ATC did it, so now we know it's possible to hook up ECN. In fact I was ready to move to ATC, but now I may reconsider.

Is there an ETA for this?
....a bit more difficult than that. Assuming I can get approval from the top, I might write up a "summary" about the progression and the trials it took for our development team to hook Meta up so it would function properly with a true ECN.

Stayed tuned for that.
  • #2,843
  • Jan 4, 2009 12:34pm Jan 4, 2009 12:34pm
Quoting jleblang
....a bit more difficult than that. Assuming I can get approval from the top, I might write up a "summary" about the progression and the trials it took for our development team to hook Meta up so it would function properly with a true ECN.

Stayed tuned for that.
Definitely will wait for it. Hopefully MB Trading will be the 1st to implement full ECN MT4 broker. Thanks Justin.
  • #2,844
  • Jan 4, 2009 12:34pm Jan 4, 2009 12:34pm
Quoting hanz
justin will there be a webinar for order entries?

I still don't understand the sell soft-limit entry order

ok,as you might already know the pair EURJPY usually have wide spreads,how do I enter the market with current price but eliminate or make the spread narrow...

ermm...not sure if you understand me...it's a

enter at market price @ now

but narrow the spread at the same time...you know trying to save cost LoL
hanz ~

Yes, we will be starting to provide regular scheduled webinars again that will cover basic & advanced order entry, product education, 3rd party introduction and support along with a host of other topics we feel you'll find informative.

If anyone has any ideas for a webinar, please feel free to email me at [email protected] and I'll toss them around with our University team.
  • #2,845
  • Jan 4, 2009 12:38pm Jan 4, 2009 12:38pm
If I missed a question or posting from anyone, I apologize....please point it out and I will be sure to get back to you.
  • #2,846
  • Jan 4, 2009 12:54pm Jan 4, 2009 12:54pm
Justin: what do you mean by "full-service broker" - will you finally offer trading all asset-classes out of a single account? There is a certain firm that is in dire need of some competition in that sector in my opinion..
  • #2,847
  • Jan 4, 2009 12:58pm Jan 4, 2009 12:58pm
Quoting htbreaker
I see, the truth hurts.
Childish, boring, annoying, idiotic...... just some of the words I would use to describe your conduct - but most importantly you have never produced a single syllable of any substance whatsoever. Now is your chance, your big moment to shine htbreaker, we're all listening.
  • #2,848
  • Jan 4, 2009 1:20pm Jan 4, 2009 1:20pm
Justin, my questions from the past 2-3 pages have gone unanswered. I'm sure you just didn't notice. Would be great if you could go over them. Thanks.
  • #2,849
  • Edited 1:50pm Jan 4, 2009 1:35pm | Edited 1:50pm
Prediction for 2009:

MB will drop commissions down to the 25-35/per million range and hundreds of people will go totally apesh*t !
If this happens, they won't be able to handle all the new business coming thru the door.

I'd like to see it happen, just to see what would happen.

BTW: On a Futures note, e-mini dow clearing thru Penson @ $2 flat (per side) all inclusive @ MB
with no restrictions is still very competitive for anything under 1000 contracts per month.

With volume greater than 1000/mo $1.50-$1.60 is the best price I've seen lately (elsewhere)
without having to form a qualifying entity and lease an exchange membership.
Then, the price per side drops down to peanuts, but you have to keep up the volume per QTR.

Price is still a major consideration, but ofcourse, not the only thing to consider.
  • #2,850
  • Jan 4, 2009 1:44pm Jan 4, 2009 1:44pm
Quoting qweabc
Can someone confirm that MBT does not CHARGE rollover on both sides of a contract. ie. no negative rollover on a long AUD/USD just because I'm using a lot of leverage. I've heard that some brokers do this. Obviously they're bucketshops, and MBT isn't, but wanted to be 100% sure.
qweabc ~

Depending on the current rates from our participating liquidity providers, we do occasionally show negative premiums on both the b/s side of a trade. Typically, it will be a very small negative rollover on at least one side of the trade if that is the case, but it does happen and we do our best to negotiate the rates so that it doesn't.

It has nothing to do with bucketshop, or a broker trying to screw you. It's purely an economic number negotiated so that we can always attempt to provide the tightest spreads and best execution available.
  • #2,851
  • Jan 4, 2009 1:45pm Jan 4, 2009 1:45pm
Quoting qweabc
BTW, do you guys clear your own trades, or do you use some other clearing firm. Thanks in advance for answering my questions.
For Forex, all trades are cleared through the executing liquidity providers at the end of day, we do not operate our own clearing in house.
  • #2,852
  • Jan 4, 2009 1:46pm Jan 4, 2009 1:46pm
Quoting qweabc
mobile trader anytime soon? I'd be very interested. BTW can anyone please answer my questions in the previous page?
In progress...no ETA.
  • #2,853
  • Jan 4, 2009 2:10pm Jan 4, 2009 2:10pm
Quoting toshi
Prediction for 2009:

With volume greater than 1000/mo $1.50-$1.60 is the best price I've seen lately (elsewhere)
without having to form a qualifying entity and lease an exchange membership.
Then, the price per side drops down to peanuts, but you have to keep up the volume per QTR.
You don't have to form any entity, its possible for individuals through a 'CME individual seat lease'. You also don't have to keep up any volume requirements, but since you pay a monthly lease its only economical if you do a certain volume, or else you would be cheaper off with retail commissions. Last time i checked it was worth it for about ~200 sides per day - that may have changed tho.

Other exchanges have similar things in place - i.e. Non-Clearing Membership on Eurex - you have to do 1 or 2 exams and you are good to go.
  • #2,854
  • Jan 4, 2009 2:55pm Jan 4, 2009 2:55pm
Quoting jleblang
qweabc ~

Depending on the current rates from our participating liquidity providers, we do occasionally show negative premiums on both the b/s side of a trade. Typically, it will be a very small negative rollover on at least one side of the trade if that is the case, but it does happen and we do our best to negotiate the rates so that it doesn't.

It has nothing to do with bucketshop, or a broker trying to screw you. It's purely an economic number negotiated so that we can always attempt to provide the tightest spreads and best execution available....
Thanks Justin. I've been in the futures business for a little while now(large futures and options trading house, we do business with you guys as well), and I've worked a little with clearing etc. I'd expect that you guys/the banks would be using the broker call rate which was around 1.06%, the last time I checked. Or is this number padded a little by the liquidity providers... If so, how much approx is/has been the padding? I'm asking because I thought I noticed a negative swap for a long EUR/USD trade, right before the fed cut interest rates last time.
  • #2,855
  • Jan 4, 2009 2:56pm Jan 4, 2009 2:56pm
Quoting shrike
You don't have to form any entity, its possible for individuals through a 'CME individual seat lease'. You also don't have to keep up any volume requirements, but since you pay a monthly lease its only economical if you do a certain volume, or else you would be cheaper off with retail commissions. Last time i checked it was worth it for about ~200 sides per day - that may have changed tho.
Glad to see individuals are welcome. Thanks for more light on the subject.
Less paperwork. Atleast a little less.

LLC's were a popular way to go the membership route a couple years back.


Based on member exchange fees, that sounds about "in the ballpark" @ ~200 sides/day.
Also, doesn't the Merc charge a $2,000 fee to apply, accepted or not ?
They want a grab a little extra too, it seems.
  • #2,856
  • Jan 4, 2009 2:57pm Jan 4, 2009 2:57pm
Quoting shrike
You don't have to form any entity, its possible for individuals through a 'CME individual seat lease'. You also don't have to keep up any volume requirements, but since you pay a monthly lease its only economical if you do a certain volume, or else you would be cheaper off with retail commissions. Last time i checked it was worth it for about ~200 sides per day - that may have changed tho.

Other exchanges have similar things in place - i.e. Non-Clearing Membership on Eurex - you have to do 1 or 2 exams and you are good to go.

on the bright side, cme membership prices have been going down for a little while now.
  • #2,857
  • Jan 4, 2009 5:04pm Jan 4, 2009 5:04pm
Quoting qweabc
Thanks Justin. I've been in the futures business for a little while now(large futures and options trading house, we do business with you guys as well), and I've worked a little with clearing etc. I'd expect that you guys/the banks would be using the broker call rate which was around 1.06%, the last time I checked. Or is this number padded a little by the liquidity providers... If so, how much approx is/has been the padding? I'm asking because I thought I noticed a negative swap for a long EUR/USD trade, right before the fed cut interest rates last...
While I can't discuss the specifics of how we come to establish our rates, we try to stay favorable of tighter spreads and better execution based on our traders activity being primarily intraday.

On the topic, we have recently just finished adding another group of providers, and you should notice the spreads and execution tighten up even more so over the coming week.
  • #2,858
  • Jan 4, 2009 5:57pm Jan 4, 2009 5:57pm
why/how come MBT doesn't offer EUREX?
  • #2,859
  • Jan 4, 2009 6:25pm Jan 4, 2009 6:25pm
is it worth demotrading with the Mt4 at this point or not ?
  • #2,860
  • Jan 4, 2009 6:53pm Jan 4, 2009 6:53pm
Quoting jleblang
In progress...no ETA.
Thanks for being patient with me, Justin.
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