Each month in this Journal, our technical support staff addresses issues of interest to many CSI subscribers in a question-and-answer format. 

Notice:
  The views and information expressed in this document reflect the opinions and experience of the author Robert C. Pelletier.  Neither CSI nor the author undertake or intend to provide tax advice or trading advice in any market or endorse any outside individual or firm.  All recommendations are provided for their informational value only.  Readers should consult competent financial advisors or outside counsel before making any software purchase or investment decision.  CSI does not stand behind or endorse the products of any outside firms.

Copyright (c) 1998 Commodity Systems Inc. (CSI).  All rights are reserved.

   UA's Uninstall function should only be used if UA is stored in its own directory (probably C:\UA). Do not use Uninstall if the software is in your root directory (probably C:\).

Always back up your hard drive before using any Uninstall program!
 

Questions and Answers

Q.
    My trading system was complicated by the change in the trading hours for NYSE Composite Index Futures.  How does the CSI database handle the various trading sessions?

A.
    NYSE Composite futures trade 3 sessions:

    16:45 to 22:00 in New York
    03:00 to 09:15 in Dublin
    09:30 to 16:15 New York pit session

    (all times eastern).

NYFE reports the 16:45-22:00 session separately, but sends the other two combined.  CSI reports what amounts to 03:00 to 16:15, and has reported it that way since 980626 when the extra sessions were added.

Q.
    Is the "close" price for stocks and indices provided by CSI the NYSE 4:00 p.m. close or the composite close?

A.
    We report the composite close for NYSE stocks and the last reported trade for NASDAQ stocks. The composite close is often different from the NYSE 4:00 p.m. close because it reflects trading at regional exchanges (like the Pacific), and by so-called "third market makers".  The crossing session activity is not reported as trades for NYSE stocks.

Q.
    I am eager to add Stocks to my Unfair Advantage system.  When will they be available on a regular (non-test) basis?

A.
    Although selected customers have been retrieving stock data for the last several months with test versions of Unfair Advantage, we are not quite ready to release them for general applications. We are working on ways to speed the data distribution routine and minimize storage space. Progress has been consistent and rapid, so we expect to offer stocks to all in the next few months.

Q.
    I get CSI data through a third-party on-line service, and occasionally have big problems with my charts.  What's going on?

A.
    This question was received via e-mail, and demonstrates the need for providing DETAILS when reporting a problem.  When contacting CSI, please include the specifics of your situation.  Pertinent information includes:
 

• The service or software used for retrieval and/or charting, including the version number;
• The specific issue that won't chart correctly;
• The date range being displayed;
• The nature of the problem (e.g. no chart, distorted chart, incorrect value, etc.);
• Your previous experience with this problem.

    Specific information such as this can help us pinpoint whether the problem originated in the CSI database, in your charting software, or somewhere else, and helps us find a quick resolution.

Q.
    I noticed something on the CSI website about a Windows version of QuickTrieve®.  How is this version different from the one I have?

A.
    Although the current version of QuickTrieve will run in "compatibility mode" under Windows 3.1, Windows 95, and Windows 98 it is not a Windows program.  We're excited about QuickTrieve for Windows, which supports Internet or direct-dial access, runs under Windows 95,Windows 98 or Windows NT and is fully compatible with the data you have already collected from CSI.

    This new software is in very limited Beta testing now, but will be offered on a broader test basis in the next month or two.  Expect a full launch of this revamped favorite within the next few months.

Q.
    How is CSI handling the new Euro contracts at the European exchanges?

A.
    We're updating prices as usual, and have used UA's database management feature to merge and splice appropriate commodities together for better analysis opportunities. More than 20 markets involving the Euro were joined through changes in Unfair Advantage. See CTJ 3/99 for a partial listing of affected markets.

    Historical data for other commodities can also be enhanced by changing UA's factsheet file, which allows the user to enter a date for merging contracts. For example, we spliced together cathode grade copper with the new high grade copper to preserve the longevity of the copper series when the new wire-bar copper came along. Changes such as these can be made by the user, but should be done with care. Keep in mind that, unless you blocked factsheet changes in User Settings, each replacement of the factsheet file will overwrite your changes.

Q.
    I'm confused by all the rolling options for constructing continuous contracts within UA.  Why must I choose between rolling "when reported," "when known" and "anticipated?"

A.
    Many traders enter the market on the basis of how the volume and/or open interest of an emerging (further distant) contract is behaving with respect to the volume and/or open interest of a contract that is closer to expiration. Unfair Advantage accommodates this trading style by allowing the user to specify the timing arrangement that most accurately reflects the release of the volume and/or open interest information.

    Volume and open interest statistics found in the CSI database are arranged as if they became available at the same time as the current day's summary prices. Unfortunately, this is not always the way these statistics are reported by the exchanges.  Japanese commodity markets are the only markets we know of that release volume and open interest at the same time they publish price reports.  Most others release volume and open interest reports at midday on the very next trading day.  The S&P market on the CME has been known to wait a second day.

    UA offers three choices for timing the introduction of volume and open interest into a continuous series:

    "Anticipated" should be used if you believe that price, volume and open interest reports are all available at the same time (as in Japanese markets). 

    "Reported" should be selected if you believe that your chosen market offers volume and open interest reports a day late, as in most U.S. markets. With this choice, only trades that are executed in the latter half of the day should be affected, because volume and open interest are not made available until midday for most markets.

    "When Known" is the appropriate choice for traders of U.S. markets who believe that volume and open interest are not known to the trader prior to the open of the market two days after the CSI database shows the volume and open interest information. This would be the case for many traders who place their trade orders to be executed at the open or at some market-determined time after the open.  In this scenario, a trade placed on Wednesday morning would be based on information received Tuesday evening, which reflects volume and open interest figures for Monday.

    It is important that you focus upon the choice that is actually possible to implement.  A choice that cannot be achieved cannot be duplicated in reality or in the past, and should not be considered as a viable alternative.

Q.
    Ever since I got the latest upgrade of Unfair Advantage, the decimal placement in ASCII files created with the software has been wrong.  Why is this happening?

A.
    It seems that the default User Settings in your new version of Unfair Advantage are different from the User Settings in your earlier version.  The software does not preserve User Settings from one version to the next, so this could well be the case for many subscribers. 

    To restore the decimal representation in your ASCII files, pull down the "View" menu and click "User Settings."  Click the "General Application Preferences" tab, then click "Output point values in decimal form."  UA will not change the decimal placement for files that were added to your portfolio before you checked this option. Such files must be rebuilt with the portfolio manager 9after changing your User Settings).

    To avoid this problem in the future, please jot down your current User Settings before installing any UA upgrade.  You can then verify that all settings are as desired before processing data.

Q.
    I am trying to get UA to show data with the "compromise" closes.  How do I do this?

A.
    There are two ways to set the compromise close in UA; One is temporary and the other is relatively permanent.  The temporary method affects only the chart on your screen. To change the current chart, pull down the "View" menu, click "Presentation" and then choose "compromise close." The data will only be affected until the current chart is closed.  To permanently your data is presentation, pull down the "View" menu, then click "User Settings" and "Default Data Presentation." Select "compromise close" from the choices shown. Changes made here will affect all subsequent charts and data files.