Best Thread Capital Spreads

microsoft

I am afraid that i will have to ask you to ring as this is not something that we generally allow. If you give a third party access to your account then you are liable for anything they do!
It is your responsibilty to keep your account login and username secret. It is one of the reasons that we do not use these details in any email or phone correspondence.

To officially allow third party access we require Power of Attorney forms to be signed

Simon

Simon

Simon
 
No worries Simon,

So much discussion on capitalforex my actual question got forgotten. I shall keep trading mainly elsewhere until its up and running... hopefully soon?!
 
Hello Simon,

Sorry, can I just clarify one point, are CS going to be offering 24/5 or 24/7 on the SB platform?

Just that I emailed your customer service to ask this very question last week and was told that there was no plan to offer 24 hour dealing. Like EGO2, that would be excellent for those of us happy with the SB platform but who need a bit more access around the clock.

Thanks,

Dave.
 
dwaddell

we are planning 24/5 for FX markets. Probably 23.30 sunday to 21.00 friday This will be hopefully available in early January. Sorry these things take time.

Simon
 
For the first time I had a price had expired on a wrong trade that would have cleaned me out. I had always thought Capital Spread was being funny nice to know that this is not the case.

The executions have been good this week.

Keep up the good work and we will be with you for long time to come :cheesy: It will even be better when you have the 24hr spread betting up and running. Your company will be "THE" one to be with.
 
Simon, any thoughts on getting all data for the live charts? I am not personally in need of having live data outside of your opening hours, but when ex. viewing a 5-min. Eurodollar chart in the morning, it would be nice to see what the asians have been up to.
 
Jyde

a good point ...I will look into this

for those who would like this data at the moment they may look in the demo area. The charts there for FX have all the history. Unfortunately they are not 'wonderfully cuddly' like the live site but you may find them useful.

FX charts can be found from a great number of sources because they are not 'Exchange' data and are therefore generally free(ish).

Simon
 
Hi simon
can you ask your IT if they could put CCI indicator to charts ?

it would by the last thing which i would request form CS. :p
 
Settlement....

Afternoon Simon.....

Just had a little chuckle at the email which Capital just sent out regarding settlement prices on CME Daily's. Any reason why these have been changed? Surely the 'official settlement price' is 'The Important Price'???

Steve.
 
stevespray

well yes i would, in the past, have agreed with you ..... the futures settlement used to be the last print on the big s&p at 21.15 ...

but for reasons best known to the CME the settlement is now released at about 21.45 to 22.00 and often bears no relation whatsoever to the closing prices on the Exchange. If I was a conspiracy theorist I would say that the big investment banks/brokers who have huge option expiry positions virtually every day have leant on the exchange..and ..shall we say 'tweak' the expiry. As we quote the daily future right up to 21.15 it is not unreasonable to settle at the last traded price at that time.

Not only that but why should my dealers hang around for another 45 minutes for one figure only to be waiting to make money for some US investment house.

The settlement criteria for the US indices futures and options are the most corrupt financial con in the world and I feel that both us and our clients should not be exposed to them in this instance.

Simon
 
New Charts

Hi Simon,

really like the new charts, easier to use and the real-time data is fantastic.

I base a lot of my trading decisions on CCI, are there any plans to add this indicator in the future?

Also, just another niggle, I cant see the bollinger bands very easily in that light grey colour, can it be changed?
 
Simon, when looking for instance on the Dow, I see slight variations here and there. I use YM, i.e. the mini, to compare.

As an example, on the 5-min bar at 1535 today, I have 10564 as high. You show 10561 on Daily Future, 10560 on December.

Jyde

EDIT: Hm, seems like the chart is following your sell price, hence the perceived difference. Would this be correct?
 
capitalspreads said:
stevespray

well yes i would, in the past, have agreed with you ..... the futures settlement used to be the last print on the big s&p at 21.15 ...

but for reasons best known to the CME the settlement is now released at about 21.45 to 22.00 and often bears no relation whatsoever to the closing prices on the Exchange. If I was a conspiracy theorist I would say that the big investment banks/brokers who have huge option expiry positions virtually every day have leant on the exchange..and ..shall we say 'tweak' the expiry. As we quote the daily future right up to 21.15 it is not unreasonable to settle at the last traded price at that time.

Not only that but why should my dealers hang around for another 45 minutes for one figure only to be waiting to make money for some US investment house.

The settlement criteria for the US indices futures and options are the most corrupt financial con in the world and I feel that both us and our clients should not be exposed to them in this instance.

Simon

But Simon, that was my point.....the last traded price isnt the 'settlement' figure. For what its worth, the large houses cant lean on the exchanges in the way you have suggested - the CME prides itself on transparency. The truth is that most of the Spreadbetting companies that quote daily's do not always know how the exchange settlement proceedures work. I would suggest that this is the case here. I'm guessing that one or two customers with 'relavent knowledge' turned you over on Monday evening? Am I close?

Steve.
 
Steve

we know very well the settlement proceedure.... and before you say nobody can lean on the settlement price in the case of exchange fixings I would draw your attention to option expiry fixings on the Dow, FTSE and S&P over the past year. Some of which have been odd to say the least. Not only that but the change by the CME in the settlement criteria forces a change by us.

Actually we were not 'turned over' on Monday. But the point is that we could have been and the events on Monday brought this anomaly to my attention. The real reason for the change is that we have nobody here at 10.00 in the evening and we must settle our markets. I find it difficult to understand any objection to us closing the market at the last traded price of the evening and in the end the settlement criteria for 'our' market is really up to us, we are not the CME, I would also respectfully suggest that the 'last traded price' is a much more transparent futures settlement price than some calculated average which is not available to the average punter. And in reality it would be difficult to defend to a client who lost money over the settlement as to why it had suddenly jerked one way or the other.

We are also considering taking out the 'Auction' period from the FTSE and DAX settlement as well.

Jyde

as you have found our charts are based on our bid.

fhb

bollinger bands color is a bit dull I will see what can be done.
Can someone tell me what CCI is. If it is based on volume then we will be unable to add it as this information would have to come from the exchanges which is unavailable to us at this time.

Simon
 
capitalspreads said:
Steve

we know very well the settlement proceedure.... and before you say nobody can lean on the settlement price in the case of exchange fixings I would draw your attention to option expiry fixings on the Dow, FTSE and S&P over the past year. Some of which have been odd to say the least. Not only that but the change by the CME in the settlement criteria forces a change by us.

Actually we were not 'turned over' on Monday. But the point is that we could have been and the events on Monday brought this anomaly to my attention. The real reason for the change is that we have nobody here at 10.00 in the evening and we must settle our markets. I find it difficult to understand any objection to us closing the market at the last traded price of the evening and in the end the settlement criteria for 'our' market is really up to us, we are not the CME, I would also respectfully suggest that the 'last traded price' is a much more transparent futures settlement price than some calculated average which is not available to the average punter. And in reality it would be difficult to defend to a client who lost money over the settlement as to why it had suddenly jerked one way or the other.

We are also considering taking out the 'Auction' period from the FTSE and DAX settlement as well.

Jyde

as you have found our charts are based on our bid.

fhb

bollinger bands color is a bit dull I will see what can be done.
Can someone tell me what CCI is. If it is based on volume then we will be unable to add it as this information would have to come from the exchanges which is unavailable to us at this time.

Simon

Afternoon Simon, Trust all is well.

In my opinion the discussions on ‘settlement procedures’ could go on and on. We had a whole thread on the subject a couple of months back after the FTSE June expiry fiasco.

The problems as I see them are as follows.

Firstly, altering one set of settlement procedures could just be the thin end of the wedge. As you have already mentioned, you are now thinking of altering FTSE and DAX as well.

Secondly, these type of alterations catch people out. I actually got caught out on Tradindex a while back on a quarterly S&P after they settled it a week or so before it expired. It turns out that they settle it when it is no longer the front month. As a result a winning trade was curtailed several days before I wanted it closed. I phoned Tradindex and complained and as a result the expiry dates are now included in the instrument descriptions. They didn’t however replace my ‘lost’ profits!!

Thirdly, and most importantly, as an options writer I find spreadbetting very useful if I need to hedge exposed Calls and Puts which I have written. If we look back at the FTSE expiry, which we have both referred to, then dangers become all to clear. At the moment the punter knows that these instruments will expiry together and at the same price. If certain bets expire pre auction then there is a potential for unprotected exposure on a customers other dealings. Would this not potentially damage your trade as customers who use you as a ‘hedge’ would be forced elsewhere?

Fourthly, and linked into point three, is there not a risk that you might potentially lose out on new business because potential customers might be put off by your non conformity to industry norm? (Especially so if you alter Dax and FTSE). With the growing popularity of ‘digital options’ etc is there not a good chance that hedge activity could become a much larger aspect of potential trade?

I also feel certain that there are a number of points which you are missing regarding the S&P settlement on Monday.

You’ve got my number.

Steve.
 
I notice that the confirmation times seem to be heading in the wrong (from the clients perspective) again.

Since last week, I have started getting 15 / 25 sec delays, on many trades, knowing when this happens that I am only likely to get filled, if the market has moved against me.
 
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Spreadbetteur

uuummm if your comment on only receiving unfavorable fills were reality I feel that we would be getting rather more unfavorable statements on this thread. But if you are receiving a slower service than normal I would be interested in some specific examples so that I can ask the dealers what is going on.

Steve

I only said we were 'thinking' of changing the FTSE and DAX settlements... though not very seriously for various reasons.... but the reason that other SB companies settle at a different price would not be one of them. The settlement against options is different matter and as we do not quote options is hardly one that I will lose sleep over. In reality the vast majority of clients do not trade options and every (and I do mean every!!) monthly (and quarterly) expiry of the Wall Street (and S&P) contracts we get irate clients asking why we don't settle the market at the close of the night before but wait for the 'Special Opening Quotation' (SOQ) the next day. Which frankly I think is a fair point and one that I would happily refer to the exchanges as the SOQ is often a farce bearing no relation to the previous nights closing price or even the next days opening level.

Be that as it may we must use the SOQ as that is what our hedging futures settle against. But that doesn't mean I (or my clients) are happy with it.

Simon
 
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