This is the same platform as they demoed for futures.io (formerly BMT) in 2014, then labeled "Nextrader"
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The following 3 users say Thank You to Big Mike for this post:
Well, I think this is just gen 1 in terms of web based cloud solutions.
As we progress, we will see more and more trading companies going this way while hopefully the cost of platform will eventually diminish all included in routing and trading.
I do give you @Big Mike a lot of credit for pointing the cloud solutions a few years back, and I admit, I did not realize the strength of this cloud based trend. When I see now the number of issues traders are having, with downloads, video cards, etc I hope this will all solve it. This is 2015 and stability should be a given, not a privilege.
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The following 2 users say Thank You to mattz for this post:
With the release of this new product Trading Technologies no longer plan to update/upgrade XTrader (although they do still support it for now at least), so the functionality in 7.17 is going to be all you get. For further enhancements you'll have to upgrade to the new product which is completely non compatible with XTrader and its architecture.
The last time I talked to TT which was admittedly a few months ago, some of the advanced functionality in XTrader was not available in the new product, and was expected to be released late this year. Examples include some ADL functionality/blocks, RTD links etc.
It should be pointed out that while the front end and things like audit logs etc is/can be cloud based the back end, autospreaders, algo engines, gateways, etc are all apparently colocated at the exchanges. For the average non-advanced trader this will be a significant upgrade to the current 'run on your desktop' style applications.
There is also a desktop version of product which isnt browser dependent but still uses the cloud and colocated servers.
I have heard from somebody (who doesn't work for TT) that the new autospreaders, gateways etc are now all unix based rather than windows based and are significantly faster than the legacy products. Won't effect your point and click trader, but autospreaders and ADL users should be happy.
Personally as somebody who has my own colocated servers, TTs reluctance to discuss the architecture, where are the gateways, how are they dynamically balancing their load etc etc disturbing. How can I be sure that their new setup is better than one I already have and/or is running optimally? After some of the issues I have had over the years "trust us" makes me very wary. Does anybody here use TTNet? If so what is the support like at night? My experience is that outside of Chicago working hours, TTs software support is terrible, but it may be different for TTNet/their new architecture.
I already have a meeting with them in a few weeks time on the calendar. Will update after that.
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