IB FIX CTCI interface experience

[salamanderforex]

Yes, this is true for let's say your own build bridge (EMS/OMS) and most broker provided frontends. But systems, such as Orc and GL Trade that I used many years ago used to have their own native connection/gateway written in the exchange native protocol, should be added that some exchanges only used FIX protocol anyway as the gateway interface. But most have their own protocols for order routing and data, Nasdaq for example is the old OMX technology now a days and uses ITCH and OUCH protocols. These native protocols are a magnitude faster than FIX, moreover the amount of data that you need for HFT if you are market making for example on a handful of instruments is not even comparable between the native data solutions directly from the exchange with FIX, even with the FAST compression of FIX you would still not be able to make any sensible and proper HFT strategy out of. I gave up on the race some 11 years ago and moved to optimal execution strategies instead of HFT. Although I never really considered hiring people and building my own stuff, I jut moved over to strategies where I know I don't get to have the first picks, but being guaranteed to trade within my offset.

No this is not true. FIX is available without colo as well for IBKR.

 

[qlai]

No this is not true. FIX is available without colo as well for IBKR.

I don’t remember why I didn’t use it and had to code to the TWS API. Maybe because I had to use IB Gateway and I decided against it for some reason.

 

[cruisecontrol]

Is HFT actually possible with IB regardless of FIX?

Slow risk checking, order rate limits, ticket charge, api directed order charge

I feel like I'm missing something here. Is there some secret handshake where this all goes away? Otherwise colo with IB seems 100% pointless.

 

[salamanderforex]

Is HFT actually possible with IB regardless of FIX?

Slow risk checking, order rate limits, ticket charge, api directed order charge

I feel like I'm missing something here. Is there some secret handshake where this all goes away? Otherwise colo with IB seems 100% pointless.

HFT is a general term so question is not asked correctly.

And what is "ticket charge" you mentioned?
And what is "api directed order charge"?

Order rate limit exists on all exchanges. You have to follow same rules everywhere.
Slow risk checking, is probably done with all brokers but who can tell for sure IBKR is slower than other brokers in this?

 

[cruisecontrol]

HFT is a general term so question is not asked correctly.

And what is "ticket charge" you mentioned?
And what is "api directed order charge"?

Order rate limit exists on all exchanges. You have to follow same rules everywhere.
Slow risk checking, is probably done with all brokers but who can tell for sure IBKR is slower than other brokers in this?

ticket charge = minimum commission for an order, 35 cents with IB. modify partially filled order creates a new ticket too

api directed order charge = IB charges way more if you choose how to route instead of using their SMART router

order rate limit = of the broker, not the exchange. IB's limits are pathetic compared to real HFT brokers.

slow risk checking = ditto, a real HFT broker will be several orders of magnitude faster than IB.

who can tell if IBRK is slower = anyone who has experience with both IBKR and with a faster broker

 

[salamanderforex]

ticket charge = minimum commission for an order, 35 cents with IB. modify partially filled order creates a new ticket too

api directed order charge = IB charges way more if you choose how to route instead of using their SMART router

order rate limit = of the broker, not the exchange. IB's limits are pathetic compared to real HFT brokers.

slow risk checking = ditto, a real HFT broker will be several orders of magnitude faster than IB.

who can tell if IBRK is slower = anyone who has experience with both IBKR and with a faster broker

Thanks for the details.

Don't other brokers charge more commissions for order modifications as well? IBKR commissions are the lowest in Forex of any and all brokers available anywhere but you could be right for other equities though I doubt it. What other providers provide lower fees for an HFT type of order?

I thought IB doesn't rate limit other than don't send 60 order per second which one may not do anyway. Which other broker has higher limit?

And which other broker is faster in risk checking that you have experienced?

I know there is a lot of talk of IBKR shouldn't be used for HFT but which other provider is better anyway? I have a full thread on commissions better than IBKR and no one could find a better priced broker with either commissions or margin.