open discussion with EFX Group president, Mr. Jon Floyd

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jon.floyd
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Postby jon.floyd » Wed Jun 28, 2006 3:29 pm

Hi jstockman,

Thanks for your comments. In regards to the position screen there are not seperate columns for long and short but the lots column does reflect if you are long or short by a negative sign next to the # of lots in the lots column. Its pretty straight forward. The docs are being updated with a better help file, manual, and tutorial that we will be adding in the next week or so. The reason the quotes do not match with Tradestation is they (TS)use a different quote feed. Remember there are no centralized quotes in forex. I encourage you to call our support line at 877-212-1112 and we will help you in any way possible.

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Insurance and protection with EFX Group

Postby jon.floyd » Wed Jun 28, 2006 3:40 pm

EFX Group does three very important things to protect its customers. First our FCM (MBTT) is a domestic based FCM and falls under the regulation and scrutiny of the NFA and CFTC. Many FCM's including Refco were and are based offshore. Second we segregate all cusomer funds from each other and from our company funds. This is another layer of protection. Third we purchase a Fidelity 14 Bond to protect our clients up to $350,000 against loss resulting from fraudulent acts. We are committed to bringing our clients the highest quality service available and will continue to set the standard for professionalism and full transparency in our business.

Thanks,
Jon Floyd

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Re: EFX My experience so far

Postby TheRumpledOne » Wed Jun 28, 2006 3:41 pm

"Also the price quotes on the EFX do not match the quotes on TS forex".

You can use this to your advantage!

I find when TS quotes are lower, the price tends to head that way.

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Postby jon.floyd » Wed Jun 28, 2006 4:01 pm

jhtumblin,

There is no impact with the switch to MBT Futures on the clients. We own two FCM's and are just doing some internal adjustments and consolidatation for future expansion and product offerings.

Thanks,
Jon Floyd

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Postby evg7145@yahoo.com » Thu Jun 29, 2006 3:37 am

Wow -- I think this is incredible and wonderful to have an open discussion about the eFX platform. Thanks for answering these Questions here.

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Postby michal.kreslik » Thu Jun 29, 2006 11:35 pm

Jon, thanks much for your answers.

Could you please have a look at my additional questions in the fifth post from the top on the first page? They have not been addressed by you yet. Thank you.

Michal

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Postby jon.floyd » Thu Jul 06, 2006 3:33 pm

Michael,
Sorry for the delayed response!

What should I do to see the 1/10th prices?

Michael in order to see the 1/10 spreads just put in a bid or offer between the spread on a pair at a 1/10th increment like EUR at 1.257405.


Sounds good. Also, is it possible to connect to EFX demo acct with NT to try how it works [b]before
opening a live EFX account?

[/B]It should be possible to connect a demo to a Neoticker acct to a demo, I personally have never tried it but will check on that for you.


jon.floyd wrote:We are order neutral and handle all orders on a pass through basis.

Does that mean that you are absolutely not taking the other side of your clients' positions (like FXCM etc. does)?

We absolutely do not take the other side of the order, we do not operate a deal desk but instead route orders to our liquidity providors directly.


jon.floyd wrote:It is not possible to run your scripts directly on our servers.

OK and do you plan to offer this functionality in the future? Some FX brokers do.

At this time we do not offer the scripts ability but that could change in the future, I will keep you up to date.


For me, the synchronization of data was the biggest obstacle in making a decision to switch to EFX/NeoTicker combo.

How far the tick history will go to the past? Will the ticks have a second-precision time stamps? Tradestation tick history is only minute-precise which is useless.

I will have to do a follow up to this question later today, I want to get specifics from my guys so I can give you a complete answer.




[The information you provide in EFX navigator is quite unique, I don't know of any other FX broker that offers the "depth of market" for FX. My question was aimed towards if you make this information available for NT, too, if connected to your data feed.

That would be a question more for NT we will stream all the data you see in the Navigator to a 3rd party, some like E-signal who we integrate into do not offer our info available in their level2.


OK. From reading your pages I just got an impression that after the margin call level is reached, you don't simply close out the position but rather try to contact your client to raise his deposit and if he doesn't, you close out the position.

You are correct we do not just blindly close out positions we try to give the client the opportunity to bring their accts up to the minimum margin levels and not sell the entire position.


jon.floyd wrote:We have the most advanced order types in the industry including TTO, and pip for pip trailing stops.

Does that mean that these trailing stops will be treated systematically on your side rather than my (NeoTicker) side? This way, once I enter a certain special type of order via NeoTicker like "trail_stop_system", I can disconnect from EFX and the order gets calculated and updated on your server alone, right?

I
f the order you entered is residing on our server (like a stop) and you disconnect your neoticker then the order will still be valid and will get executed by our order server. It will only be updated on our end if you are disconnected but the order will still be good.



I've got one additional question to you: why does EFX call the minilot (10,000) a lot? That brings confusion.

[B]We do not differentiate between a min and a regular lot, all increments on our system are in $10,000 increments. That is the minimum size we can execute an order with our banks in. Most firms do not have the ability to send smaller orders directly to the banks so they bucket them and then send them on as larger orders. Our clients get direct fills from the banks. We do not mean for it to be confusing it is just they way we choose to handle it. Our clients get used to it very quickly and no one seems to complain.


Thanks for the questions and sorry for the slow reponse to them, I will check daily so as not to miss any. Please let me know if we can be of any help!

Thanks,
Jon Floyd
jfloyd@efxgroup.com
480-212-1112 877-212-1112

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Postby eudamonia » Thu Jul 06, 2006 4:37 pm

Jon,

Does EFX support simultaneous long and short positions within the accounts? Or do you offer subaccounts?

Edward

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Postby TheRumpledOne » Thu Jul 06, 2006 5:17 pm

I have 2 EFX group accounts, so I can be long in one and short in the other.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby eudamonia » Thu Jul 06, 2006 5:27 pm

TRO,

Thanks for the tip.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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