BRIEF TRANSMISSIONS FROM FUTURES EXPO

Perhaps inspired by Omaha-based Data Transmission Network Corp., which now claims more than 25,000 subscribers, quote vendors specializing in futures and options have evidently decided there's room to grow at the low end of the market. At the Futures Industry Association Expo held October 19th-21st in Chicago, at least two were showing new no-frills, low-cost products. Herewith our summary of highlights:

CQG, Inc. demonstrated prototype of unnamed service that will offer all price feeds available on System One but without high-end graphics. Features include 640x400 orange plasma screen, 10"x11" footprint, time and sales data, Futures World News, alerts, and daily price charts. Availability will be first quarter 1989, with price about $350-$400/month for first unit, $200 for add-ons.

Knight-Ridder unveiled Futurescenter, new low-end service to be available in January. Futurescenter provides news, prices for U.S. and U.K. futures and options, but no analytics. It uses Moneycenter data feed and includes more options prices than Data Quote IV, product it supersedes. Subscribers can choose between real-time and 10-minute price updates, which do not require exchange fees. Users can create up to 16 custom pages to display tick-by-tick futures data or segments of cash summary pages. Pricing was not disclosed.

Aspen Research Group Ltd. took wraps off Apex quote, graphics, and analysis service to be available in January. Founded by CQG's former development team (MTR, October 1988), Aspen is based in Glenwood Springs, CO. Knight-Ridder has agreed to provide APEX with real-time data, but company is still negotiating with vendors of historical information, says Tim Sales, who is in charge of marketing. A lower-end version will carry data from Lotus Signal, he says. Apex features proprietary windowing system that Sales says is better suited to real-time environment than MS Windows. Users can create windows in any size or shape and impose one on top of another by clicking mouse or hitting key. Apex designers believe unusable information should be kept off screen, so package omits icons, Sales says. Apex charts can display up to 600 bars per screen, in periods ranging from one minute to one day per bar. It can chart two instruments consecutively on same screen, allowing trader to look at Treasury bond prices from Chicago Board of Trade in series with T- bond contract traded on London International Financial Futures Exchange.

Data Broadcasting Corp., now emphasizing relationship with parent Financial News Network, Inc., announced unbundled pricing for futures data effective November 1st. CBOT is $110/month, CME, KCBT, and MidAm, $120, and CEC, MGE, and Winnipeg $130, including exchange fees. DBC plans to expand cable delivery of VBI broadcast feed to over-the-air TV shortly. First station will be in Chicago, and should be on air within 30 days.

Commodity Market Services, Ltd., market data arm of London Futures and Options Exchange, announced availability of satellite- delivered U.S. quote vendor feeds including London FOX, LIFFE, and French MATIF prices. Fees are $1,000 annually per vendor, $25/month per terminal for FOX ($5/month for each additional), and $20/month for MATIF ($5/month for each additional). LIFFE has no U.S. fees.

Metriplex, Inc. showed Global24, futures version of market data service using alphanumeric pager. Service provides updates on bellwether contracts, including CME currencies and S&P 500, Comex gold, CBOT T-bond, Simex Nikkei Index, and LIFFE FTSE Index.

Townsend Analytics, Ltd. showed new MS Windows-based packages fed by Lotus Signal service. TA_SRV is real-time multitasking data server, presumably converting Signal feed to Windows DDE protocol. Realtick III is charting and analytic program featuring enhanced CBOT Market Profile features.