Well, actually, these order-entry software packages only work today for real-money prediction markets (TradeSports-InTrade and BetFair), but they will also work for play-money contracts when TradeSports-InTrade will open play-money prediction markets —same API.
And my hope is that, one day in the future, we can use ONE order-entry software to interact with ALL the prediction exchanges: BetFair, TradeSports-InTrade, Hollywood Stock Exchange, NewsFutures, Washington Stock Exchange, Foresight Exchange, etc. That day will be a great day. (As for Jason Ruspini’s idea of a global, universal currency, hummm…, it’s a bright idea, but don’t hold your breath, alas. Daniel Reeves, are you listening???)
Anyway.
Here we are today with a major update of one order-entry and analysis software, 1st Tick (from a European company called SubCard Limited).
#1. The terms of service prohibit its use by U.S. and Canada residents, alas —(because the betting exchanges are illegal in the U.S. and Canada, alas):
We are sorry but 1stTick software is not sold to United States or Canadian residents at this time.
#2. It’s a high-technology product. 1st Tick offers two order-entry interfaces, and for each of them, 1st Tick offers the best technology.
2.a. Level II interface (the traditional bids/asks mode, which is the standard for real-time stock quotes): 1st Tick offers the Rapid Routing technology.
Rapid Routing is a quick method that lets the user enter an order without having to worry about the ladder prices moving (and causing the order to be placed at the wrong price). Rapid Routing also lets the user change the quantity “on the fly” whereas ladders require more mouse movement and keystrokes to change the quantity. The tradeoff is that Rapid Routing requires a quick keypress after the click (for price selection).
2.b. Ladder interface (bids on the bottom and offers on top, which is the standard for real-time futures and options quotes):
Ladders have fixed price scale, that is, even though there may be no quotes at a price, the ladder still shows that price in the window. The Ladder is an innovative interface that lets you buy and sell with one click. The 1st Tick ladder module operates in a very similar way to Trading Technologies‘s well known “MD Trader” interface, with a few unique extra features.
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For more info, see the 1st Tick entry at CFM. See also the Saikou Trader entry at CFM.
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Addendum: 1st Tick will work for BetFair in mid-2007.
