Currenex, HotSpotFxi, Lava - Pimps for the Banks? - No Scalpers
- Thread starter danger66
- Start date
i would like to know more about ATC. they have Currenex, Lava, HotspotFXi, and for some reason MT4.
Fist off let me tell you something about MT4. Orders get held up for a reason my friend. Sure it is easy to use and a great charting package. Be warned that MT4 is even more manipulated than MT3. I know a guy that possesses a backoffice program for MT3 that can spike price on a certain broker's server. I can execute the price and everything. They finally kicked him out of the broker for banging them for 100 lots. To this day they have no idea how he moves price. Morons. Anyway the moral of the story is MT4 is even worse and can control individual accounts rather than just the entire price feed. That is why if you put two live accounts next to each other with the same experta advisor autotrading the accounts you will have different statements.
Fist off let me tell you something about MT4. Orders get held up for a reason my friend. Sure it is easy to use and a great charting package. Be warned that MT4 is even more manipulated than MT3. I know a guy that possesses a backoffice program for MT3 that can spike price on a certain broker's server. I can execute the price and everything. They finally kicked him out of the broker for banging them for 100 lots. To this day they have no idea how he moves price. Morons. Anyway the moral of the story is MT4 is even worse and can control individual accounts rather than just the entire price feed. That is why if you put two live accounts next to each other with the same experta advisor autotrading the accounts you will have different statements.
i dont know who takes my trades but on cnx you have an option to see the liquidity line per line so can see that there are a lot of differents buyers /sellers per price.
even with 10mios i get instant fills
It can happen some time that a delay like 1/2 seconds occurs but i think it comes more from my connection ( am in asia and with the quake in taiwan it slows sometimes) than from a bank thinking about it
Even with a 500ms line the soft works ( you have a kind of ladder on top right showing the quality of your line)
even with 10mios i get instant fills
It can happen some time that a delay like 1/2 seconds occurs but i think it comes more from my connection ( am in asia and with the quake in taiwan it slows sometimes) than from a bank thinking about it
Even with a 500ms line the soft works ( you have a kind of ladder on top right showing the quality of your line)
you're scalping from asia? wow.
State Street to buy Currenex for $564 mln
Mon Jan 22, 2007 7:44am ET
NEW YORK, Jan 22 (Reuters) - State Street Corp. (STT.N: Quote, Profile, Research), one of the world's largest custody banks for institutional investors, said on Monday it will buy Currenex Inc. for $564 million in cash to add electronic foreign exchange trading services.
Founded in 1999, Currenex is an independently owned online platform that serves banks, hedge funds and other active traders. The firm has offices in New York, Chicago, London, Singapore and Redwood City, California, according to its Web site.
Boston-based State Street said the purchase will augment its FX Connect foreign exchange trading platform, which last month topped $108 billion of trading volume in a single day. It said the purchase of Currenex should not affect 2007 results but should add slightly to earnings in 2008.
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This comes one year, almost to the day, after NITE's purchase of Hotspot FX. By comparison, that was a steal at a mere $77.5 Million...
Mon Jan 22, 2007 7:44am ET
NEW YORK, Jan 22 (Reuters) - State Street Corp. (STT.N: Quote, Profile, Research), one of the world's largest custody banks for institutional investors, said on Monday it will buy Currenex Inc. for $564 million in cash to add electronic foreign exchange trading services.
Founded in 1999, Currenex is an independently owned online platform that serves banks, hedge funds and other active traders. The firm has offices in New York, Chicago, London, Singapore and Redwood City, California, according to its Web site.
Boston-based State Street said the purchase will augment its FX Connect foreign exchange trading platform, which last month topped $108 billion of trading volume in a single day. It said the purchase of Currenex should not affect 2007 results but should add slightly to earnings in 2008.
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This comes one year, almost to the day, after NITE's purchase of Hotspot FX. By comparison, that was a steal at a mere $77.5 Million...
Very interesting. I wonder how big bank mangement will impact relations with liquidity providers?
Personal experience here as a model trader/ECN connectivity guy at both a hedge fund AND bank, including Hotspot, Currenex, Lava, SpotAi, AutoQuote, eSpeed ....
Banks will generally throw you out if they can't hedge your deal consistently, especially if you start jacking up the amounts. They also get upset by consistent out trades. I don't believe bank look at any pair of trades as predatory unless they feel like they are being drawn consistently into a poor position. As long as they can hedge at a profits, they'll love you.
HotspotFX executes fairly quickly and consistently but are quick to throw you out - Scalping is unlikely in itself to get you thrown out - more dangerous are take out/sniping models.
Currenex bank streamers employ last look protection to hold onto the execution, possibly until the market suits them (or to bitter the taste to persistent offenders) - Expect fill times in the seconds, even for IOC orders. Not so likely to switch off because this
Banks will generally throw you out if they can't hedge your deal consistently, especially if you start jacking up the amounts. They also get upset by consistent out trades. I don't believe bank look at any pair of trades as predatory unless they feel like they are being drawn consistently into a poor position. As long as they can hedge at a profits, they'll love you.
HotspotFX executes fairly quickly and consistently but are quick to throw you out - Scalping is unlikely in itself to get you thrown out - more dangerous are take out/sniping models.
Currenex bank streamers employ last look protection to hold onto the execution, possibly until the market suits them (or to bitter the taste to persistent offenders) - Expect fill times in the seconds, even for IOC orders. Not so likely to switch off because this
how would a bank identify a specific trader if the orders are being routed through a broker? not sure how they would 'bitter' the taste to persistent offenders.
It depends on HOW unidentifiable you are. Larger customers trading with banks are directly identifyable in some cases, and sometime hidden by PB fronts. Anonymous can often still be distinguished but not directly identifyable - they can switch off XYZ1234 without knowing exactly who they are.
Even when anonymous, a bank can request you can turned off on the basis of one trade, especially if they see the same behaviour consistently - they'll assume it's the same guy and request that they don't want to deal with the guy who made THAT trade in the future. A PB doesn't hide you from that since they identify the account implictly by the trade.
Even when anonymous, a bank can request you can turned off on the basis of one trade, especially if they see the same behaviour consistently - they'll assume it's the same guy and request that they don't want to deal with the guy who made THAT trade in the future. A PB doesn't hide you from that since they identify the account implictly by the trade.