Glean Common Purchasing Questions

Contents

  1. 1 How do I get a Lease price for my design?
  2. 2 How does BP pricing work?
  3. 3 What is Buying Power or BP?  How much do I need?
  4. 4 Can I re-use BP?
  5. 5 Are there other benefits to leasing?
  6. 6 What is the Glean Cycle?
  7. 7 To get me started, can I have the first strategy built for me?
  8. 8 How do I get an Unlock price for my design?
  9. 9 What is included in Community Edition?
  10. 10 What is not included in Community Edition?
  11. 11 What is the difference between BP Lease and Code Unlocks?
  12. 12 Can I skip BP Leases aka DLL unlocks and go directly to Code unlocks?
  13. 13 If I lease for a few months, can I stop trading the design and come back and re-lease or unlock it later?
  14. 14 If I purchase a DLL or Code unlock, can I customize in my own applications?
  15. 15 How many live symbols can I trade with DLL and Code unlocks?
  16. 16 What if I need more designs?
  17. 17 How can I get private e-mail support for my design?
  18. 18 How many machines can I use with with DLL and code unlocks?
  19. 19 Do I have to purchase Glean to build designs?
  20. 20 Can I make money with the free Glean?
  21. 21 What connectors are Preferred?
  22. 22 Can I use a connector that is not preferred?
  23. 23 I am a Glean client, where do I get support?
  24. 24 Who owns a design that I created but have yet to unlock?
  25. 25 Who can see my strategy?   If your employees can see it, how am I protected?
  26. 26 Why do I have to provide my name and e-mail at signup?  What will you do with my e-mail address?
  27. 27 Why do I need to verify assets?
  28. 28 Is Glean Open Source?
  29. 29 What is your approach to source code?
  30. 30 What is a strategy design unlock?  Why does it help me?
  31. 31 I'm already a quant/programmer, why would I want to use Glean?
  32. 32 Are design code unlocks guaranteed, or do I need a lease for that?
  33. 33 What happened to the tradelink trading platform?
  34. 34 I have another question, who do I ask?

How do I get a Lease price for my design?

  1. Start Glean at Start > Programs > Pracplay Glean > Glean.  First time user?  Install Glean Now.
  2. In Glean, Click views > Trade > Buying Power
  3. Double click any design to add Buying Power to this design.
  4. A website will open showing prices and terms.
  5. Click purchase to complete the transaction using Paypal.
  6. Restart Glean.
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How does BP pricing work?

BP is priced per $1,000 unit on a monthly basis.

When you first want to test a design with real money, you will lease a small amount of BP.  Just enough to get realistic fills and verify you make money.

Your price per unit of BP will drop from this point, assuming that your strategy works as intended.    If it doesn't, you'll switch to another strategy or you won't renew until it's ready.

The best way to understand BP pricing is to get a lease quote, which also includes a graphic explaining this.   See the previous question above for how to do this.

Note : BP is unaffected by whether you use leverage or not.


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What is Buying Power or BP?  How much do I need?

BP is Buying Power, which is the amount in dollars you require to buy a given security.

Examples :
  • 100 contracts of XYZ at $10 per = 100 * 10 = $1000 (1K of BP)
  • 10,000 contracts of ABC at $50 per contract = 10,000 * 50 = 500,000 BP (500K)
Each Glean user receives a base amount of BP included.   This is so you can :
  1. verify your broker works 
  2. verify your design makes money on a small number of contracts before you invest additional time with it.
As you scale up the design in profitability, you scale up the BP level (or unlock).

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Can I re-use BP?

Yes, BP can be moved between designs. This is done using the lease manager.



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Are there other benefits to leasing?

Yes, leasing provides more benefits than just Buying Power.

Other premium features automatically provided to lease-holders :
  • Unlimited English-to-strategy conversions
  • Better performance with 100+ intra-day symbols.
  • Trade more than one design simultaneously (with real capital).
  • Trade in multiple accounts at once, on the same or difference brokers.
  • Trade with a different data feed than that provided by your broker's connector.
  • Automatically excluded from the inactive user policy on design retention
  • Send designs privately between Glean users
  • Receive quotes for and optionally purchase design unlocks
  • Additional design space (in proportion to current total BP)
  • More screen space by hiding AON ads and community messages

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What is the Glean Cycle?

Glean Cycle Advantage

The Glean Cycle is what drives and improves your business model.

The cycle uses automation to let you maximize your revenue per unit of time invested.

The cycle has 3 main areas :
  1. Design - where we create and edit ideas, and review them for correctness.
  2. Test - where we discover a design would've made money in the past.
  3. Trade - where we discover if the design can accommodate our target amount of capital or a larger/smaller amount.

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To get me started, can I have the first strategy built for me?


Yes, the fastest way to get going :
  1. in a few sentences, write out how your strategy should operate, when it should trigger which orders.
  2. copy/paste this description into the 'new' button in glean.   
  3. Instructions and examples of this are available.
If you have questions during the strategy conversion process, please ctrl+h them to the support team.

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How do I get an Unlock price for my design?

Unlocking is only available to existing Glean clients (aka those holding one or more leases).
  1. If you are a Client, to receive an unlock price for a design click views > Trade > Buying Power.
  2. Double click on the design you wish to unlock.
  3. A website will open with price and terms of both leasing additional BP, as well as an extra option to purchase an unlock.
  4. Choose the desired option and complete the transaction using Paypal.

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What is included in Community Edition?

Community Edition includes most Glean features.   These include :
  • Design mode with all Glean signals and actions
  • Portfolio-realistic historical simulation playback, for all of normal/pairs/basket strategies
  • Portfolio-realistic live data playback with simulated executions
  • Limited amount of Live Buying Power (BP) to verify whether an idea makes money before you scale it up.
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What is not included in Community Edition?

  • design unlocks : neither dll nor code unlocks are included

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What is the difference between BP Lease and Code Unlocks?


DLL unlocks-also referred to as Leases- are used to :
  • make larger profits from a single design
  • refining a design in live trading
  • trade designs in ASP
Code unlocks are used when :
  • You want the source code for a design.
  • Your design rarely changes.
  • You want to cap your future strategy costs (eg by avoiding Leasing the design)
  • You want to change the design in ways Glean does not support.
  • You want 100% control over your trading environment or source code.
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Can I skip BP Leases aka DLL unlocks and go directly to Code unlocks?


No, to ensure that people have a good result we require them to construct, test and verify designs in Glean.   

This includes at least having the option of trading it live on an initial amount of capital via a Lease.    

We require this because it's far easier from a time and dollar perspective to fix errors in Glean.  

If you all you intend to do is build, test and verify and unlock a strategy then the incremental cost of a single month's lease will not make much difference to you, and communicates that you were serious about your verification and testing prior to unlock.


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If I lease for a few months, can I stop trading the design and come back and re-lease or unlock it later?


Yes this is allowed.   Please be aware that if you are not an active client, you must use Glean every three months or your designs will be removed.

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If I purchase a DLL or Code unlock, can I customize in my own applications?


Yes, both types of unlocks can be embedded in other applications.   Design purchases (aka unlocks) can be run as they are w/out any Glean dependency.

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How many live symbols can I trade with DLL and Code unlocks?


There are no restrictions on the number of symbols you can trade with leases or unlocks.  

The only limitations are on the amount of buying power (BP) leased, and any limitations inherent to the broker or hardware you are using.

Generally most brokers can support hundreds of symbols intra-day (tick data) per machine, with some allowing for several hundreds per machine.

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What if I need more designs?

We automatically provide new design space as you lease additional designs.



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How can I get private e-mail support for my design?

Ctrl+H inside glean.

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How many machines can I use with with DLL and code unlocks?


At a software level, there is no limit to number of machines with either solution.     

Leases are only limited by the buying power purchased.

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Do I have to purchase Glean to build designs?


No, Glean is free to build designs.    A small amount of design space and buying power is included, so long as you use Glean every 3 months.

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Can I make money with the free Glean?


Yes but not much.   Community Glean includes a small amount of Community (free) Buying Power.

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What connectors are Preferred?

All the connectors are technologically equivalent.   

Preferred indicates our recommended connectors.

Our preference is for our users to have a great experience, not just technologically but in the quality of all interactions with a firm.

A list of all connectors and which are Preferred can be found here.

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Can I use a connector that is not preferred?

Yes, of course.   Any connector we distribute with Glean can be used.    


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I am a Glean client, where do I get support?

Use Ctrl+H from inside Glean.

If you have technical questions about pricing, partnerships or business aspects of Glean please contact our sales group.

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Who owns a design that I created but have yet to unlock?

Your strategies are only accessible by you.   Your designs are protected with a private key that only you can access, so remember to backup.

This prevents anyone- including our employees- from viewing or trading your designs.

We allow you to share your designs with others if you choose.


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Who can see my strategy?   If your employees can see it, how am I protected?

Glean strategy designs are encrypted with a key that is known only to each user.   

No Pracplay employees nor contractors can see your strategies.   For any Glean user- Pracplay included- to view your strategy, you must explicitly send it to them.


Why do I have to provide my name and e-mail at signup?  What will you do with my e-mail address?

We require full name and e-mail verification for legal purposes and to ensure the security of your strategies.

We also use your e-mail to periodically notify you of important changes to your account, Glean usage terms, or other important Glean changes.

We will not resell your name nor email for use in 3rd party solicitations.    



Why do I need to verify assets?


Success with Glean requires sufficient trading capital.

Verification is just one tiny part of maximizing your success.

If you want to skip this step for any reason, sign up for a lease.

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Is Glean Open Source?

No, Glean is not open source.    

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What is your approach to source code?

We cater to "startup" hedge funds and those managing less than 100M of assets.

When you've had sustained and stable success with Glean, you may choose to to "unlock" your strategy and receive the source code.

Unlocks provide all the transparency and control you'd have running a hedge fund with 100M+ assets, in a fraction of the time and cost.    

Besides the strategy, Unlocks also include a copy of the Connector and underlying platform sources used to trade your strategy daily.

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What is a strategy design unlock?  Why does it help me?


Unlocking allows you to change a monthly cost for a strategy into a one-time cost.

The drawback is source code is much harder to maintain.   Consequently you must have your own programmer to support unlocked strategies.   

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I'm already a quant/programmer, why would I want to use Glean?

  • Glean writes thousands of lines of code per second.  
  • Thousands of eyeballs.
  • Glean only writes production code.
  • Glean code works with every asset, live and historical.
  • Frees up more time to search for alpha.

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Are design code unlocks guaranteed, or do I need a lease for that?


If you have to ask this question, you probably need a lease.   


What happened to the tradelink trading platform?



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I have another question, who do I ask?


If you have a technical question using Glean, please ctrl+h to contact support. 

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