From the September 01, 2006 issue of Futures Magazine • Subscribe!

ProphetX3.0

ProphetX 3.0

DTN

11400 Rupp Drive

Burnsville, MN 55337

(800) 328-2278; (952) 82-4390

Fax: 952-941-7017

www.dtn.com

Overall Rating:3.5 disks

Level: Beginner to advanced.

Price: $260 per month plus exchange fees.

Recommended System: Windows-based PC, Broadband.

There are a lot of good charting products out there and you can go ahead and add DTN’s ProphetX 3.0 to that list. The features are exactly what you would expect at this level of pricing and the depth of services is great. You get sophisticated charting, weather, news, a real simple syndication (RSS) feed reader and the ability to pull other data to one central application. ProphetX is a trading tool available for commodities, energies and financial futures trading markets, and its latest release carries data for all U.S. equities and E-mini futures. This version also provides a high level of analytical tools and has many charting capabilities.

DATA: 3.5 disks

DTN has been in the game of providing data for years. There was a time when data wasn’t streamed through the Internet and you had to use a satellite to get market data; and DTN set itself up as the leader of the pack for disseminating data to traders around the globe. Ten years later every brokerage firm and Internet search engine had some form of charting and data that in many cases was free. However, it’s important to remember that there is no free lunch and you can’t really trade off of free data. A trader needs real-time reliable data to trade successfully, and DTN offers a reliable source for data.

DTN is still a news and weather provider to a number of market participants and sporting events and has set the standard for what a news platform should deliver. DTN provides news for all markets in all sectors and it also enables you to use Prophet X as you would an RSS newsfeed reader. RSS allows you to capture text and data from another Web site onto your own. This is a nice feature because you can use just one application to act as a central repository for news. ProphetX software can support additional data feeds like Reuters, and DTN has special arrangements with Platts, OPIS and USDA to publish current and historical data via ProphetX. The software has Excel-like tabs and has detailed news on each market as well as more broad based headlines from DTN. See “Maximum news.”

Charting: 3 disks

ProphetX not only has the depth of service DTN is known for, but DTN has created a powerful charting tool which is the flagship of this application. Admittedly, the interface seems a bit antiquated, but because it deals with market data, simple is probably better.

The software allows the end user the ability to create countless types of charts and there are a number of tools that are handy for all expertise levels, so the novice and experienced trader can create charts that will aid their trading.

These tools range from simple moving averages to a full featured complex scenario that has almost every chart type imaginable, including synthetic spreads. A quick example of that is the: (10*@ty@1)-(6*@us@1), which graphs a price differential between the Treasury bonds and the 10-year. This is considered to be a pretty fancy charting tool.

The added charting features like “crush spreads” and “point and figure” add great features to this product. The options data is clean and easy-to- understand. They really have thought out all the bells and whistles and made most of them available from the right-click functionality that has become popular with Windows-based products.

Summary

There are various ways to look at data with ProphetX, there is a forum to help support the product and there is a quick answering support desk. With this product you are getting a lot of features that are not available with other products for the same cost. What’s missing? Word on the street is that order entry is on the way towards the end of the year, so it’s pretty obvious that DTN is making a strong play with the new updated ProphetX.

Rob Keener is the president of Keener Capital Management, a CTA and IB. E-mail: rob@keenercapital.com.

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