broker for medium freq systematic trading

J

jshore

I have a FX strategy that generates trades up to once every 5mins. I am used to the interbank market with direct access to EBS, Lava, etc, but now thinking to trade on my own.

My concern is to find a broker that will give reliable fills for sizes $500K - 2m$ without seconds in slippage and hopefully little in the way of gaming on the market making side.

The broker needs to support some sort of API (ideally Java) and/or IP / socket.

I was originally considering IB, but have read quite a few account recently about poor execution and unstable technology. Is this a temporary problem and still worth pursuing or are there better options out there?
 
Quote from jshore:

I have a FX strategy that generates trades up to once every 5mins. I am used to the interbank market with direct access to EBS, Lava, etc, but now thinking to trade on my own.

My concern is to find a broker that will give reliable fills for sizes $500K - 2m$ without seconds in slippage and hopefully little in the way of gaming on the market making side.

The broker needs to support some sort of API (ideally Java) and/or IP / socket.

I was originally considering IB, but have read quite a few account recently about poor execution and unstable technology. Is this a temporary problem and still worth pursuing or are there better options out there?
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Best bet is to write into Currenex API so you have the option of switching brokers without having to reprogram your strategy.

I ran into another trader on a different forum with a similar issue..

Just be wary of which CNX broker you choose; there a bunch out there with very poor liquidity and super high commissions..

Considering your trade size/frequency, don't accept anything higher than $28 per mio..
 
"I am used to the interbank market with direct access to EBS, Lava, etc, but now thinking to trade on my own"

Just being curious but what exactly do you mean by used to direct access EBS, Lava but not thinking to trade on my own?

If you are executing good volume and trading that frequently what not stay on something as good as EBS or Lava? Or write to the API?
 
Quote from JR-Welling:

If you are executing good volume and trading that frequently what not stay on something as good as EBS or Lava? Or write to the API?
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The OP quoted volumes that are not sufficient for EBS. IB is the best choice. Their liquidity and spreads are better than Currenex right now. Executions are no problem at all. Yes, their technology does tend to change, but all of the platforms have those issues to some degree, including EBS and Currenex.
 
IB. I've comfortably pushed 4-5 million in my automated strategy while still getting great spreads and execution (in comparison to Currenex). How much volume are you doing per month? If your minimum size is 500k and you can do a few hundred million per month you could consider one of the prime services. Check out vCap and their different blends.
 
[QUOTE = "jshore, post: 2419246, member: 143237"] Tengo una estrategia FX que genera operaciones hasta una vez cada 5 minutos. Estoy acostumbrado al mercado interbancario con acceso directo a EBS, Lava, etc., pero ahora estoy pensando en operar por mi cuenta.

Mi preocupación es encontrar un corredor que ofrezca rellenos confiables para tamaños de $ 500K - 2m $ sin segundos de deslizamiento y con suerte poco en el camino de los juegos en el mercado.

El intermediario debe admitir algún tipo de API (idealmente Java) y / o IP / socket.

Originalmente estaba considerando IB, pero recientemente he leído bastantes relatos sobre una ejecución deficiente y tecnología inestable. ¿Es este un problema temporal y aún vale la pena tratarlo o hay mejores opciones por ahí? [/ QUOTE]
 
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