Automate trading broker suggestion?

R

reffo

I wanna find a broker who satisfy the following two requirements:
1. Access to major markets, such as future, equity, currency, metal, etc.
2. Automate trading connection and Co-location service (high availability)

Of courese, IB is an option, but I'm not very satisfied with the infrastructure built on IB API.
Any other choice for small prop firm (trade several million)?
 
If you need low latency with futures, there are many choices and they are independent of the FCM you use. And, if the account is over $1mm, you can code directly to the CME iLink for the fastest access. We offer an introduction to INTL FC Stone for futures. There are also many APIs available if you don't need low latency.

Equities, through us, would have to be a securities account at either Apex Clearing or ML Pro. If you need low latency, you can cross connect to our FIX connection at NY4. This gets expensive because of the IT hosting, non display market data fees plus the cost of the cross connect. We don't offer IT hosting but can make introductions to those that do. If you don't need low latency, we offer Silexx OEMS and Sterling Trader Pro that both have APIs with their platform.

If you want to email me more details of what you need, including your name and contact phone number, my email is below.

Bob
 
Thanks, Robert.

I tested IB API, send order from a server in Chicago, and the average time to get the first response from IB Chicago is around 100 ms.
It's too slow to trade.

I'm curious what kind of connection does these proprietary(HFT) trading firms use?
Connect to each exchange directly? It's too complex and expense for a small firm.
Or using PB service from those big banks?
 
reffo said:
Thanks, Robert.
I'm curious what kind of connection does these proprietary(HFT) trading firms use?
Connect to each exchange directly? It's too complex and expense for a small firm.
Or using PB service from those big banks?
More...

Although I've never worked for an HFT myself, my understanding is that "true" HFT's connect directly to exchanges from servers co-located in the exchange's server room (so that means you'd need a different server for each exchange you'd trade on).

The connection specifications are, by and large, published on each exchange's Web site. Most (if not all) exchanges allow you to connect via FIX, but many also offer "proprietary" API's that are supposedly just a little bit quicker. It is indeed expensive -- and mind-numingly boring IMO -- but it's all a direct consequence of fragmentation and the "race to zero".
 
reffo said:
I'm curious what kind of connection does these proprietary(HFT) trading firms use?
More...

If they need low latency, they connect directly to the CME iLink and get MD directly from the exchange at the CME Group data center located in Aurora, IL.
 
maybe connect some exchange directly, such as CME,
and some exchange through primary broker, such as FOREX, Spot Gold, and some nitch exchanges
 
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