Since you won't believe anything I tell you, you go ask the banks yourself. Tell them I sent you, I am quite well known with their retail fx market making desks.
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HFT Orders Getting filled against market
- Thread starter max_w
- Start date
Since you won't believe anything I tell you, you go ask the banks yourself. Tell them I sent you, I am quite well known with their retail fx market making desks.
I knew it. Big mouth, lies, and nothing to back up your shit. LMAX nor IB's orderbooks are not owned by anyone other than LMAX and IB. You were the same guy who suggested 8 microsecond trading frameworks are purchasable over the counter right? BoA and Deutsche having retail market making desks? Sure they do. But the only counterparty that knows you is Douche Bank not Deutsche.
Since you won't believe anything I tell you, you go ask the banks yourself. Tell them I sent you, I am quite well known with their retail fx market making desks.
I have run electronic triangular arbitrage for more than 2 years in the past. I maintained several accounts with each of the brokers in question.
then you were not a pure triangular arbitrage, more like a relative value trading strategy. In a pure arbitrage, you wouldn't need to have 3 different accounts with 3 different margin capital. The counter-party settlement in FX terms would be a pure cash out profit, the very basis of arbitrage. Instead, you would have 3 accounts, with 3 different settlement that are not coordinated, therefore requiring 3x the capital to run the "arbitrage". Basically, you were running an illusion of arbitrage.
the equity market is not fundamentally as fragmented as you think. For HFT, it is though, but in HFT, everything is fragmented, even time itself.
You inject yourself AGAIN into threads you know nothing about and make outrageous claims and shoot others down. There will not be an end to fx market fragmentation, bollocks. Not at least before the end to equity market fragmentation is signed off on. And yes, now you know that fx benchmarks were rigged. Big deal for you because you price your basement exotic fx derivatives according to WM/Reuters fx benchmarks right? LOL.
dude, you need to read the news more carefully. It wasn't only the benchmark that were rigged, but also the ongoing trades.
Why do you think banks settled for billions and criminal charges are being sought for those FX traders ? they were using secret chat rooms to coordinate trades and "skew" the spots.
Go read the SEC reports, it's hilarious.
I knew it. Big mouth, lies, and nothing to back up your shit. LMAX nor IB's orderbooks are not owned by anyone other than LMAX and IB. You were the same guy who suggested 8 microsecond trading frameworks are purchasable over the counter right?
The market is own by the banks, therefore anything within it are owned by banks. You are doing nothing but trading on the banks whims.
I can sell you a 8 micro second framework over my counter if that is what you want. How much are you looking to spend ? If you need a platinum version, I can do you a 7 micro second one for double the price.
again you are talking out of your ass.
a) I never even mentioned the number of counter parties I ran this scheme with.
b) Arbitrage is an extraction of a risk-free profit. If you can create a synthetic fx pair from 2 other pairs and trade that against the same but quoted pair and derive pricing for your synthetic pair at 1.8742-1.8744 vs market quoted prices at 1.8739-1.8741 then I can sell the synthetic and buy the market quoted pair for an instantaneous profit. This is close to impossible today because of the much more sophisticated technology most banks and other liquidity providers operate on (must be Python ;-)
c) I made no claims about the capital requirements for such strategy.
d) Are you really as dumb as you sound you are? How many exchange venues, exchanges, dark pools, and alternative trading venues can you count in the US equity markets? That is not considered fragmented? Time is fragmented? I think I heard enough.
a) I never even mentioned the number of counter parties I ran this scheme with.
b) Arbitrage is an extraction of a risk-free profit. If you can create a synthetic fx pair from 2 other pairs and trade that against the same but quoted pair and derive pricing for your synthetic pair at 1.8742-1.8744 vs market quoted prices at 1.8739-1.8741 then I can sell the synthetic and buy the market quoted pair for an instantaneous profit. This is close to impossible today because of the much more sophisticated technology most banks and other liquidity providers operate on (must be Python ;-)
c) I made no claims about the capital requirements for such strategy.
d) Are you really as dumb as you sound you are? How many exchange venues, exchanges, dark pools, and alternative trading venues can you count in the US equity markets? That is not considered fragmented? Time is fragmented? I think I heard enough.
then you were not a pure triangular arbitrage, more like a relative value trading strategy. In a pure arbitrage, you wouldn't need to have 3 different accounts with 3 different margin capital. The counter-party settlement in FX terms would be a pure cash out profit, the very basis of arbitrage. Instead, you would have 3 accounts, with 3 different settlement that are not coordinated, therefore requiring 3x the capital to run the "arbitrage". Basically, you were running an illusion of arbitrage.
the equity market is not fundamentally as fragmented as you think. For HFT, it is though, but in HFT, every is fragmented, even time.
all and every last conversation in recent time, any and all fines imposed on banks trading fx were exclusively targeting trading collusion of the fx fix. Nothing else. I never denied banks have been trying to run stops for decades. But the current fines imposed regard the fx fix.
dude, you need to read the news more carefully. It wasn't only the benchmark that were rigged, but also the ongoing trades.
Why do you think banks settled for billions and criminal charges are being sought for those FX traders ? they were using secret chat rooms to coordinate trades and "skew" the spots.
Go read the SEC reports, it's hilarious.
there IS NO SINGLE COMMON TAPE in US equity markets. NBBO is a joke and means nothing. Why do you think every single trade gets picked off and gamed in US equity markets. Because there is no single market.
as long as there is no "single common" tape like it is for equity (at least in the US), the FX markets will be rigged.
Pre-trade and post-trade transparency is seriously lacking in FX, and US and European regulators are hoping to change that in the coming months.
go back to your Russian parents in Siberia where you come from Ruski.
The market is own by the banks, therefore anything within it are owned by banks. You are doing nothing but trading on the banks whims.
I can sell you a 8 micro second framework over my counter if that is what you want. How much are you looking to spend ? If you need a platinum version, I can do you a 7 micro second one for double the price.