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Anyone based in Europe using CQG IC through a US broker?
I trade Eurex products using TT at the moment but have a delay between orders being sent/processed/appearing on the DOM that I feel is a little too long. I was advised by TT support it was down to the location of my brokers servers (I have a solid internet connection). My broker has suggested switching to CQG.
I was interested to know if there are any traders in Europe also trading Eurex (Bund/FESX) clearing through a US broker who could share their opinions on CQG's speed vs TT. Specifically, the delay from clicking on the DOM ladder to order being added/removed from the book and keeping up during fast markets. Also, if anyone has experience of using CQG with both a US broker and with a European based broker.
Many thanks
Can you help answer these questions from other members on NexusFi?
Thanks. I did find read that thread previously but it is now closed and there was not much follow up on if CQG was indeed quicker.
Im manually entering spreads so improving that little lag would be great.
I have spoken to CQG support europe so am aware they have local servers and tell me it will be quicker but to be honest everyone I talk to says there solution will be quicker so was hoping for some more real world experiences specific to Eurex.
I got a quote from a London broker who said that regardless of what software I used if I clear through a US broker I will have that lag - but then it is probably in his interests to say that.
One guy on that thread - Snowtrader - had made the switch from TT but only had three days with it at time of writing. If you are reading this Snowtrader tried PM'ing you but was unable to. What are your thoughts after a bit more time with CQG?
I will not be going into explanations as to why CQG will be a better tool for your needs (I work for the company and, as you said, every vendor will claim they have the fastest product). The only thing I would recommend is to try the platform for yourself. Call CQG and ask for a free trial. You will have the software for 2 or 4 weeks (depending on feature set) and will be able to run it side by side with your current setup. What you see may be enough to convince you to switch.
CQG Spreader is server side, so there is no importance where you are located. Your Eurex/Liffe spreads will work in Frankfurt and London and will be executed in fastest speed. That will be hard to see in the simulation environment, but if you are willing to try it out with real account you should see the difference.
PM me if you have any specific question, will be happy to help.
Thanks for your input yshterk. I am just over 2 weeks into a trial of intergrated client with live Eurex data so while I am obviously unable to get an idea of speed of getting my orders on and off the DOM I can try out some of the features and compare speed of price updates against my TT DOM.
There is no doubt that CQG is faster. I have the Stoxx50 contract up on both and while they are close enough during the european morning session, once the US opens the CQG DOM can be ahead by up to 2 or even 3 prices!! This happens many times every day.
The charts are great. I dont use many of the features but im sure they are all there and some. Here are the things that are not so good in my opinion:
1) The size of DOM font can not be set and and it changes depending on the number of contracts. Lets say there is 300 on the bid and this rises to above 1000 the font size changes. When this starts happening a lot I find it a little distracting.
2) The volume at price graph column on the DOM cannot be adjusted.
3) No shading of prices above HOD, below LOD just a thin colored line. Minor i know but would be nice.
4) No 'Highlight midpoint of last re-center' function. Sure its under patent or something but didnt realise how much I like this function until it is not there!
5) Market profile is an extra £85/$135 per month.
6) I like time and sales of contracts in a column beside my DOM. I cannot find this feature and think it may be an extra cost called 'portfolio time and sales' but may just be looking in wrong place.
Despite the points above I think im am going to go live with CQG in the next few weeks because it seems that the most important thing, speed of execution, will be faster. Lets see.
Thank you for the note, I will make sure to pass this feedback to our product management group. Couple of points as a reply below:
For the record - this is not a fee collected by CQG, it goes to CBOT for the Market Profile usage, they own rights to the classical market profile. But you should consider that you are getting not just classic MP for this fee but other features that are proprietary to CQG - ABility to use Market Profile calculated values (POC, Value area, etc) in your custom studies and indicators by using MPVA study, ability to see the distribution areas in real time directly on your timed or volume charts and combined volume profile and volume distribution on any CQG chart. Hopefully these features will allow you to make better trading decisions.
There are various places where you can see the Time &Sales info. Starting from traditional T&S view, to Portfolio T&S, where you can monitor multiple contracts and their activity happening simultaneously to Order Ticker where you can see orders coming to the market with modifications and cancels to help you observe the state of the book.
Excellent, good to hear. And as you start spreading these markets you will see even more significant speed advantage due to our colocated spreading engines located around the world next to exchanges.
If you are with the European FCM you will be connecting to our London infrastructure automaticlly. If you are witht he US FCM you will need to call CQG and they will tell you how to configure your CQGtrader to hit non US farm.
Oh. thats good news. Last time I used the Trader CQG support told me straight it is not possible to connect to anything else than a hardcoded server in US....
