DECLARATION OF THOMAS BURNS
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`I, Thomas Bums, declare that:
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`I am personally familiar with the facts set forth herein, and, if called as a witness,
`1.
`I could and would testify thereto of my own personal knowledge.
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`I hold a Bachelor of Science degree in Mathematics and Computer Science from
`2.
`Northern Illinois University.
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`I have traded securities and derivatives since 1994. Form 1994 to 2000 I traded
`3.
`securities on a part time basis. Form 2000-2002 I traded stocks as my primary source of
`income using Nasdaq Level 2 electronic trading screens and related charting tools. For
`approximately the last year and a half I have traded futures electronically with a trading
`group called Darwin Capital. I trade 2, 5, and 10 year treasury note futures, all of which
`are listed by the Chicago Board of Trade. I also trade cash treasury notes and bonds,
`which are listed for electronic trading on ESpeed. I use the electronic trading screen
`offered by ESpeed to trade such cash treasury products.
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`Both the Nasdaq Level 2 and ESpeed trading screens display the prices and
`4.
`quantities in the market using a simple grid display. Prior to seeing TT's MD Trader
`product, I thought these trading screens were great and were the best way to trade
`electronically. I thought they were fast and that they satisfied all of my trading needs.
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`I became familiar with TT's MD Trader product when I first started trading
`5.
`futures products electronically at Darwin Capital. Although it took me about a week to
`get used to the MD Trader product and all of its useful features were not immediately
`obvious to me, I did quickly notice that there was a world of difference between the way
`MD Trader displayed the market and the way I had ever seen it displayed previously.
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`One of the most significant benefits that MD Trader offered was that it displayed
`6.
`the ebbs and flows of a market in a way that I could easily see as I traded. It is very
`helpful to my trading to know where the market is moving and where it has been and the
`MD Trader product visually showed such movement as though it was a picture on the
`screen. I could also see the high and low traded prices visually and intuitively using the
`MD Trader product. The difference between MD Trader and the other screens I had used
`was like night and day.
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`Another important feature of the MD Trader product was the order entry feature,
`7.
`which allowed me to enter orders with a single click of the mouse at the price where I
`wanted to enter an order. This process was much faster than any order entry system I had
`used before.
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`TRADING TECH EXHIBIT 2033
`CQG & CQGT v. Trading Technologies
`CBM2015-00058
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`Entering an order at a price displayed on the MD Trader screen was especially
`8.
`beneficial and different from what I had seen before. The prices did not move, unless I
`chose to center them on my screen, so I was always guaranteed to enter an order at the
`price I wanted. This feature was important because I was never at risk to enter an order
`at a position other than where I wanted to be.
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`The re-centering feature of the MD Trader product was also an important feature.
`9.
`With one click I could re-center the MD Trader window on my computer screen. This
`allowed me to keep a reference point from which I could gauge the movement in the
`market. I could re-center the reference point whenever I chose. This helped me to
`visualize the movement in the market.
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`If I had traded with MD Trader when I traded securities, I would have traded a
`10.
`much greater volume of trades.
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`11. MD Trader users have a significant advantage over traders that do not use MD
`Trader for all of the reasons set forth in this declaration.
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`I declare under penalty of perjury that the foregoing is true and correct. Executed on
`August~,2004.
`~
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`~
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