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NinjaTrader buys TransAct Futures (Infinity Brokers), plans its own FCM


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NinjaTrader buys TransAct Futures (Infinity Brokers), plans its own FCM

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This news item about NinjaTrader purchasing Transact Futures, the owner of Infinity Brokers, and planning to operate its own FCM, was flagged by @sakisf in another thread:

I thought it was interesting and important enough to raise the visibility since it may affect users of NinjaTrader in the future: https://johnlothiannews.com/transact-futures-bought-by-owner-of-ninjatrader-brokerage-an-introducing-broker/

Apparently NinjaTrader Grooup, LLC intends to operate its own FCM, built on TransAct Futures, which it recently purchased:


Quoting 
NinjaTrader Group, LLC purchased futures commission merchant TransAct Futures on the last tick of the clock on December 31, 2020, giving the owner of the fast growing technology and brokerage firm their own FCM to modernize their business. NinjaTrader’s goal with this deal and their growth plan is to become nothing short of the “number one destination for active futures traders.”

...

Currently NinJaTrader Brokerage clears through Dorman Trading and Phillips Capital. That will not change in the short term, as Franchi said they needed to ramp up all aspects of TransAct to be able to handle the NinjaTrader business. Franchi said he expects to hire 20 to 25 new people in the next year to scale the TransAct business.

NinjaTrader has about 180 employees, with a little more than 20 of them coming from TransAct and Infinity Futures in the deal. Franchi says he expects it will take “six months” before beginning to transition NinjaTrader clients to TransAct.

When they are done, TransAct will remain a standalone FCM. NinjaTrader Brokerage will be their chief client as an Independent Introducing Broker....

This also may affect customers of Transact Futures (which owns Infinity Futures.)

Sierra Chart has a notice on its Support Board regarding existing Transact customers using Sierra Chart, with support scheduled to end June 1, 2021: https://www.sierrachart.com/SupportBoard.php?ThreadID=59796

If you're affected, or just want to keep up with industry changes, it is worthwhile to read the full article.

Interesting developments are ahead.

Bob.

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This is exciting news for NinjaTrader. The actual PR campaign is scheduled for Tuesday however, the news somehow leaked and the article came out ahead of our own news release.

Our official press release can be found here - https://ninjatrader.com/NewsReleases/NinjaTrader-Acquires-TransAct-Futures

An initial FAQ can be found here - https://ninjatrader.com/TransAct-Infinity-Futures-FAQ

As always, I am here to answer any questions.

Ray

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@NinjaTrader, how are current TransAct or Infinity users affected?

When do you plan to close?

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@NinjaTrader can you reveal the number of brokerage accounts this will add under your umbrella?

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Big Mike View Post
@NinjaTrader, how are current TransAct or Infinity users affected?

When do you plan to close?

Directly from our FAQ located here - https://ninjatrader.com/TransAct-Infinity-Futures-FAQ

There is zero impact. It’s business as usual for all accounts and prospects. As the organizations are further integrated, there will be opportunities for us to expand our service offerings and support & we are excited to introduce those in coming months.

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@NinjaTrader can you reveal the number of brokerage accounts this will add under your umbrella?

Mike

The additional accounts represent about 10% of our total accounts.

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NinjaTrader View Post
The additional accounts represent about 10% of our total accounts.

I hope Patrick Zielbauer is one to migrate there.

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samiotis View Post
I hope Patrick Zielbauer is one to migrate there.

Patrick Zielbauer is good people. infinity futures has some good people.

Just wish NinjaTrader would be as stable and robust as Sierra and TradeStation just being honest. Having paid a $1,000 for the NT License feel I paid for the right to tell the truth. Any chance NinjaTrader will improve customer service to the level Infinity Futures provides ?

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With Patrick for sure
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Patrick Zielbauer is good people. infinity futures has some good people.

Just wish NinjaTrader would be as stable and robust as Sierra and TradeStation just being honest. Having paid a $1,000 for the NT License feel I paid for the right to tell the truth. Any chance NinjaTrader will improve customer service to the level Infinity Futures provides ?


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@NinjaTrader, what is the longer term plan for the current broker connections available to NinjaTraders. Is it likley that ninjatrader will be reducung the connection options available to it's customers in future?

This is important for current and potential new customers to know when deciding on whether ninjatrader traders is the right platfomr for them. While this may be a good news for the development of ninjatrader as a broker it would seem likley that the connection options for users will be reduced as ninjatrader will want to force users of the platfomr to use their brokerage service rather than the "competion".

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Good opportunity to add some exchanges/products to the suite? To be more marketable to people in Asia/Australia/people who want to trade those markets and time zones. It can be done via IB of course, but it would be very nice if NT Brokerage/pending FCM would also provide this access.

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Please consider modernizing and adding ACH transfers, the least of which is withdrawal.

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@NinjaTraderIs it likley that ninjatrader will be reducung the connection options available to it's customers in future?

No.

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Please consider modernizing and adding ACH transfers, the least of which is withdrawal.

This is already in the works.

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Please consider modernizing and adding ACH transfers, the least of which is withdrawal.

One of the biggest holdups for me with NT was the ACH problem. I just bought the Life Time License and opened an account with Phillips because they allow for ACH’s.

The process was pretty simple, only complicated because of where I work. But for the majority of people it should be a breeze. I will say, through my experience the NT staff were excellent and helped out every step of the way. And we still got the account opened within 48 hours.

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Was this motivated by the Cooking with Lynnette webinar, the Co-CEO of Phillips Capital?

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Will this deal make it easier for international clients to open Ninjatrader brokerage accounts?

I have inquired about Ninja brokerage before and been told that it is not available to clients in some parts of Canada.

I get it that Canada is a bit of a patchwork when it comes to regulations between Provinces but that hasn't stopped other FCMs from offering brokerage services.

Will this merger address that?

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refine View Post
Will this deal make it easier for international clients to open Ninjatrader brokerage accounts?

I have inquired about Ninja brokerage before and been told that it is not available to clients in some parts of Canada.

I get it that Canada is a bit of a patchwork when it comes to regulations between Provinces but that hasn't stopped other FCMs from offering brokerage services.

Will this merger address that?

Most US FCM's do not accept Canadian clients due to their view on the regulatory risk that comes with servicing these accounts, it is my understanding that TransAct is no different in this respect.

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Ray, why the decision to keep the TrsnsAct business intact instead of rebranding under NinjaTrader Brokerage?

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Most US FCM's do not accept Canadian clients due to their view on the regulatory risk that comes with servicing these accounts, it is my understanding that TransAct is no different in this respect.

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Ray, why the decision to keep the TrsnsAct business intact instead of rebranding under NinjaTrader Brokerage?


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Our plans are to offer brokerage services FCM direct to the consumer and TransAct is our vehicle to do that. In its current form, its not ready to handle the scale of our NinjaTrader Brokerage business nor the volume of new accounts we open on a daily basis. We are already hard at work to prepare TransAct for the next generation of NinjaTrader Brokerage. In due time, we will operate as an integrated entity.

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Just curious, how many accounts do you open daily?

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Phillips allow for ACH? sins when? is it true? I send a check two weeks ago and is not posted yet.....


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One of the biggest holdups for me with NT was the ACH problem. I just bought the Life Time License and opened an account with Phillips because they allow for ACH’s.

The process was pretty simple, only complicated because of where I work. But for the majority of people it should be a breeze. I will say, through my experience the NT staff were excellent and helped out every step of the way. And we still got the account opened within 48 hours.


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Phillips allow for ACH? sins when? is it true? I send a check two weeks ago and is not posted yet.....

Are you in the United States? Mine posted in 1 day, full funds now, but, I'm sim trading for now, as I'm really wanting to learn order flow.

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Yes I am in USA I just singed up I dint know, So you think was impotent for them to let us in on this? No of course not........Any way thanks for the info


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Are you in the United States? Mine posted in 1 day, full funds now, but, I'm sim trading for now, as I'm really wanting to learn order flow.


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Just curious, how many accounts do you open daily?

Thanks for this question, this is currently private information.

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Yes I am in USA I just singed up I dint know, So you think was impotent for them to let us in on this? No of course not........Any way thanks for the info

Sorry you were not aware. This is disclosed on the funding instructions a new customer receives, I believe it's been there for at least the last month. It's only available for US customers at this time.

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Thanks for this question, this is currently private information.

No worries, just trying to get a sense of your value for when you go public :-)

trying to jump on early with private equity :-)


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Warning: Personal Opinion Only

I definitely understand the desire to "be part of" NinjaTrader via owning a bit of it. But dare I say it, NinjaTrader should always remain private. Going public injects capital, but it also surrenders to external market pressures that are rooted in shareholder interests, not necessarily customer interests. One might think they would be the same, but it often proves to not be so. There are benefits to going public, of course, but, IMHO they are far outweighed by the disadvantages.

Ray, keep going as you are. NinjaTrader has shown itself to be a leader precisely because it is not subject to the whims of "the market" but is instead focussed on the Market. Doesn't mean it's a perfect organisation, as I'm sure even you'd admit. But, from experience, I can say that having to "please" shareholders can, and not infrequently does, compromise the direction a company takes for the worse. So long as a company seriously listens to its customer base, it will have the most important information it needs to make good business decisions in their interest and the long-term interest of all involved with the company.

Again, I note that this is just a personal opinion.

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I would say a larger concern is rising to the level of interest of a larger conglomerate, and being bought out and possibly shuttered to eliminate competition or reshuffled into a larger organization where it may significantly alter new accounts or license purchase options.

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Absolutely, Mike! I've been on both the doing and "done" ends of that type of action ... and both are very "problematic"! Thanks for highlighting.

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I would say a larger concern is rising to the level of interest of a larger conglomerate, and being bought out and possibly shuttered to eliminate competition or reshuffled into a larger organization where it may significantly alter new accounts or license purchase options.

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This was what I was thinking, too. ...Great for the founder and/or investors. Crap for customers and fans. Happens A LOT.

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Well, I'm using the combination of Infinity/Sierra and the latter has informed that they are ceasing support for TransAct data feed in May, so I'll be forced to make some moves.

A simpler option would be to move to Sierra Denali Data Feed for charting while continuing to use TransAct dome for execution. That will add some monthly data costs as curruntly my TradsAct feed is free of charge which is a compensation of sorts for their higher than average commissions.

So it makes me wonder now whether I should make a move to another broker with a more competitive price plan, especially for the micros as Infinity commissions on them are really high.

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speck View Post
Well, I'm using the combination of Infinity/Sierra and the latter has informed that they are ceasing support for TransAct data feed in May, so I'll be forced to make some moves.

A simpler option would be to move to Sierra Denali Data Feed for charting while continuing to use TransAct dome for execution. That will add some monthly data costs as curruntly my TradsAct feed is free of charge which is a compensation of sorts for their higher than average commissions.

So it makes me wonder now whether I should make a move to another broker with a more competitive price plan, especially for the micros as Infinity commissions on them are really high.

TransAct/Infinity will be reaching out to customers in the coming days with several options to continue using Sierra Chart with your Infinity account. You are correct that no action is required by any of Infinity’s clients for several months. During that time, you will be provided a seamless path to continue trading as you have been used to. We understand some of the communication has been confusing customers, which is why TransAct/Infinity are thoughtfully considering all available options you have during this transition. Thank you for your patience!

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TransAct/Infinity will be reaching out to customers in the coming days with several options to continue using Sierra Chart with your Infinity account. You are correct that no action is required by any of Infinity’s clients for several months. During that time, you will be provided a seamless path to continue trading as you have been used to. We understand some of the communication has been confusing customers, which is why TransAct/Infinity are thoughtfully considering all available options you have during this transition. Thank you for your patience!

Many thanks!

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  #35 (permalink)
new york
 
Experience: Beginner
Platform: tos
Trading: gold
 
Posts: 3 since Oct 2016
Thanks: 4 given, 0 received

i hope i can use my transact account to log in ninjatrader with transact level 5 data

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futures io Trading Community Trading Reviews and Vendors Brokers > NinjaTrader buys TransAct Futures (Infinity Brokers), plans its own FCM


Last Updated on February 21, 2021


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