Additional Asian Exchanges

[atlas]

Any plans to add the Korea, Osaka, and Tokyo futures markets?

Thanks,

atlas

[AndyS]

Hi Atlas,

We do plan to release these at some point, but I'm afraid to say that it probably won't be before year's end. We have so many exchanges in the pipeline to add. Some day we hope to have them all!

Is there a specific Tokyo Futures Market that you seek? In addition to the futures market on the Tokyo Stock Exchange and the Osaka Stock Exchange, there are three others that I know about; TOCOM, TIFFE, & TCE. Feedback on this could help us prioritize which of these get's added first and so on.

Thanks,

[atlas]

Hi, I am mainly interested in what I can trade at IB, e.g. Nikkei 225 (Osaka), Topix (Tokyo), and KOSPI (Korea) futures. Actually, I find out that KOSPI is not tradeable yet by U.S. citizens.

-atlas

[Ou Yang]

Eventually eSignal should cover at least all the markets listed here: http://www.futuresource.com/reference/symbols.jsp

Now the weakest part lies in the Asia-Pacific Rim, the most promising potential for eSignal to achieve further growth in the future. Both N.A. and pan Europe are now well covered and explored. But for Asia only the institutional feeds Bloomberg, Reuters, Moneyline Telerate, and FutureSource for futures and options, have a full coverage of the major exchanges. All the local players are either obsolete in technology or limited to local markets, or both, or second/third hand distributors of international data. People here are more and more internationally oriented, and wealthy enough to invest and spend money globally. But they want a reasonably priced data vendor to cover all markets they are interested in, both local and international. This is my ovservation. eSignal is well positioned strategically to explore this region, only have to add the major Asian exchanges that are not yet covered, namely Korea, Taiwan, and China, especially the futures and options markets. Remember that people who care most the data quality, technical studies and backtesting/programming capabilities that eSignal claims to be strong are mostly futures traders.

And the Asian time zone has almost no overlap to the Europe and USA's busiest market hours, that means that even an explosive growth of client interests in trading Asian markets, local or international investors/traders alike, won't add much load to eSignal's existing server farms and processing capacity. And eSignal's customer support is already migrated mostly to the forum/online chat/email type, so minimum to none overhead indeed. Believe me that few, really few Asian clients want to call for help or anything else. Phone call is the last resort. What's the implication? Minimized cost/maximized profit margin to add and keep a new Asian client. But first of all you have to carry all the key markets most demanded by these existing and prospective clients. Korea, Taiwan, and China, in that order. Futures are more important than stocks for Korea and Taiwan.

The priority should be judged, in addition to readily availability and distribution cost on eSignal/Comstock's side, by

1. Accessibility: The markets should be easily accessible to local and/or international traders/investors. In the electronic era trading platform/network and brokerage are the key concern. eSignal should cover each and every product/exchange that IB allows trading. In this regard TSE.JPN's TOPIX futures and OSE.JPN's Nikkei 225 futures and options, and KOFEX's Kospi 200 futures and options are of the highest priority. IB is indeed ready to allow trading of Kospi 200 for it's non-US clients. This is the very market eSignal can make difference to all its competitors, CQG included. And "To improve market accessibility for US investors, KOFEX plans to receive no-action letter from CFTC on Kospi 200 futures in 2004.", "KOFEX will enhance cooperation with ISVs(independent Software Vendors) to connect international investors to KOFEX." See the link http://www.exchange-handbook.co.uk/n...y.cfm?id=45674
I hope eSignal to speed up the distribution of these products as soon as possible. Year-end is way way too far!

2. Activity and economy of scale: The markets should be volatile and actively traded, a large share of volume comes from retail participants, and attract foreign investment institutions. The markets should also have to be large enough to achieve economy of scale in terms of users of data service. In this regard Korea and Taiwan are the two best candicates. Futures markets are much more demanded of international class data vendors/analyzing platforms. So don't forget TAIFEX - Taiwan Futures Exchange.

[AndyS]

Hi Ou Yang,

This is great stuff here! I appreciate you taking the time and giving us this feedback. I agree that we can't add it soon enough!

I don't have the stats with me here at home, but I believe we're at 80+ exchanges released with another 100+/- that we have access to, but not yet released. So as you can see, it's a challenge to prioritize, set-up, and release in the very short time. While I stated end of year, priorities do change and anything is possible. I will forward this on to our Product Management group for their review.

Thanks again for giving us this feedback!

[saxon987]

Originally posted by AndyS
Hi Atlas,

Is there a specific Tokyo Futures Market that you seek? Feedback on this could help us prioritize which of these get's added first and so on.

Thanks,
AndyS

Yes, Andy. The N225 futures contract on the Osaka exchange!

IB already allows trading in that contract, so I think many eSignal customers would like to trade it...if we could only get RT data!

Please put this one high on the list. Actually, according to the Osaka website, the N225 used to be the highest volume contract in the world. It would be a great representative for Asian exposure. I'm currently trading the Hang Seng, but it is sooo volatile. Perhaps the N225 would be a more mature contract.

Thanks,
saxon

[AllenCook]

The N225 futures are probably more familiar to most Westerners but actually, the TOPIX futures on the TSE currently have slightly more volume. I would think that priority should be given to the Osaka N255, TSE TOPIX and the KOSPI for the Asia region.

[saxon987]

Please give us a RELIABLE date for these additions

Originally posted by Chuck of eSignal on 9-17-2003
Beyond the eSignal 7.5 release, the next group of Asian exchanges we will bring online by year end are:

1. Tokyo Stock Exchange & TOPIX Futures

2. Korea Stock Exchange

3. KOSDAQ

4. Bombay Stock Exchange

5. Nagoya Stock Exchange

6. Kuala Lumpur Stock Exchange

7. Osaka Stock Exchange

8. Thailand Stock Exchange

Unfortunately, eSignal is gaining quite a reputation for being long on promise and short on delivery. I've stopped holding my breathe on the addition of these Asian exchanges, and begun looking elsewhere.

saxon

[ACM]

saxon
As far as I know with the exception of TOPIX the other exchanges in that list are all available at this time.
Alex

[saxon987]

Huh??

Originally posted by Alexis C. Montenegro
saxon
As far as I know with the exception of TOPIX the other exchanges in that list are all available at this time.
Alex

Alex,

I have NO idea what makes you think they are available.

A quick check of the eSignal "Symbol Guide" page (link below) reveals NONE of these exchanges.

http://www.esignalcentral.com/suppor...ol/default.asp

saxon

[saxon987]

PS.

Alex,

Perhaps you are referring to stock trading. The questions in this thread (mine included) were about Asian futures, and in particular the Nikkei 225 futures that trade on the Osaka Securities Exchange.

If you indeed have an eSignal symbol for that one, I would be most grateful.

saxon

[AndyS]

Hi Saxon,

What Alexis is referring to is the quote you posted from Chuck in your email. Those are exchanges we announced as upcoming releases. They have all been released with the exception of TOPIX Futures, Osaka, and Bombay. Osaka & Bombay are ready for release, just waiting on contractual issues with the exchanges.

As I said earlier in the thread, the Asian Futures exchanges won't be ready till year's end.

Thanks,

[saxon987]

Somehow I think eSignal could do a better job. Sorry...

Originally posted to ET by AndyS on 12-24-03
Hi Saxon,

We don't have a precise eta [for Osaka], but it's high on our list and we're looking to release by end of 1st quarter 2004.

Regards,
Andy
eSignal Support

Originally posted by AndyS on 5-20-04
Hi Saxon,

Osaka & Bombay are ready for release, just waiting on contractual issues with the exchanges.

As I said earlier in the thread, the Asian Futures exchanges won't be ready till year's end.

Thanks, Andy

[Anson]

Hi guys...

Just asking for an update... since year end is approaching!

Any new ETA for Kospi etc?
Or how about delayed feeds?

Thanks!

[AndyS]

Hi Anson,

We continue to work towards the end of the year, nothing is for certain though. However, you mentioned Kospi, which we've never stated as being able to release this one. The problem lies in that our source for Asian Futures markets, Comstock, does not carry this one, thus I don't know if or when this will be available.

As for delayed services, this is tentatively on the 7.8 release list, though that list has not been finalized and is subject to change.

Andy