New trading platform collaboration C# .NET, anyone?

[Zzzz1]

Sql is a perfectly fine solution to store relational data, hence "relational databases". I would be absolutely shocked if you find a single exchange, a single hedge fund (>100 million AUM), a single bank data team, that stores pricing data in time series format in a relational database.

I like LMAX's tech stack but they are too expensive to trade with for anyone who is a liquidity taker and trades shorter holding period (=high trade turnover). Theirs spreads are significantly wider than the top players that are accessible to retail players or smaller professional outfits.

LMAX have won awards for their programming, they pretty much invented the disruptor pattern. Interestingly they use MySQL to store account and other administrative information but not the historical market data available from their servers. (Not sure what they actually use but they tend to roll their own where necessary from what I've read).

 

[InvBox]

LMAX have won awards for their programming, they pretty much invented the disruptor pattern.

As I tried to explain previously - there is no any single way. And what is best for sell-side can be worst for buy-side.

 

[Zzzz1]

But there is a best and worst way. Do whatever you like, but advising to use sql database concepts when dealing with time series based data is poor advice. Your or my opinion does not matter, ask anyone in this industry who appears knowledgeable and you will be corrected.

And Lmax is useless (or at least a very bad choice) for anyone on the retail side if you trade holding periods shorter than a day. Lmax on the most liquid fx pairs routinely charges 50-100 percent more (via its wider spreads) , than for example Interactive a Brokers. Why wanting to pay up by that much when you trade in size and quite frequently.

As I tried to explain previously - there is no any single way. And what is best for sell-side can be worst for buy-side.

 

[cjdsellers]

That's interesting you say that, I find their currency spreads are a little wider but precious metals and index CFD's have very competitive spreads, the metals the tightest I've seen yet. I think they're charging $4 per million round turn which definitely isn't the cheapest at all.

Sql is a perfectly fine solution to store relational data, hence "relational databases". I would be absolutely shocked if you find a single exchange, a single hedge fund (>100 million AUM), a single bank data team, that stores pricing data in time series format in a relational database.

I like LMAX's tech stack but they are too expensive to trade with for anyone who is a liquidity taker and trades shorter holding period (=high trade turnover). Theirs spreads are significantly wider than the top players that are accessible to retail players or smaller professional outfits.

 

[cjdsellers]

I agree that IB are a good broker all round. Unfortunately they can't offer margin FX which includes metals here in Australia... I'd have to setup a company based in the states for example... or maybe the Cayman Islands while I'm at it :-/

What are your thoughts on FXCM while we're on the subject of brokers. Obviously they aren't a prime broker...

But there is a best and worst way. Do whatever you like, but advising to use sql database concepts when dealing with time series based data is poor advice. Your or my opinion does not matter, ask anyone in this industry who appears knowledgeable and you will be corrected.

And Lmax is useless (or at least a very bad choice) for anyone on the retail side if you trade holding periods shorter than a day. Lmax on the most liquid fx pairs routinely charges 50-100 percent more (via its wider spreads) , than for example Interactive a Brokers. Why wanting to pay up by that much when you trade in size and quite frequently.

 

[cjdsellers]

That's interesting you say that, I find their currency spreads are a little wider but precious metals and index CFD's have very competitive spreads, the metals the tightest I've seen yet. I think they're charging $4 per million round turn which definitely isn't the cheapest at all.

Per 'lot' I meant.

 

[Zzzz1]

you mean $4 per 100k , not per million correct? Edit: just saw your updated post, please ignore.

I don't trade CFDs nor metals. But their fx spreads are extremely wide for an ECN given the small size they offer top of book on either side.

Re FXCM, I only know them from the time they were a rip-off and bucket shop and I do not believe in this industry in miracles, a dishonest shop will not suddenly become client oriented and honors their trades. Hence I would never place funds with FXCM. But that is just me. I trade with IB (among others) for more than a dozen years and never once felt I was ripped off. So, you may want to look harder to find something more suitable for you. What about Pepperstone? They seem to provide access to some quite decent FX pools.

That's interesting you say that, I find their currency spreads are a little wider but precious metals and index CFD's have very competitive spreads, the metals the tightest I've seen yet. I think they're charging $4 per million round turn which definitely isn't the cheapest at all.

 

[cjdsellers]

you mean $4 per 100k , not per million correct? Edit: just saw your updated post, please ignore.

I don't trade CFDs nor metals. But their fx spreads are extremely wide for an ECN given the small size they offer top of book on either side.

Re FXCM, I only know them from the time they were a rip-off and bucket shop and I do not believe in this industry in miracles, a dishonest shop will not suddenly become client oriented and honors their trades. Hence I would never place funds with FXCM. But that is just me. I trade with IB (among others) for more than a dozen years and never once felt I was ripped off. So, you may want to look harder to find something more suitable for you. What about Pepperstone? They seem to provide access to some quite decent FX pools.

Yes LMAX have surprisingly small top of book size. I've looked into Pepperstone and traded on an MT4 and cTrader demo account a while ago, execution and spreads seemed on par with FXCM, IC Markets... they all seem to be of the same ilk really, mainly retail oriented FX brokers.

I've also traded through IB some years ago but don't have a current live account with them, this precludes paper trading and makes testing with them and integrating an API very difficult before deploying live unless I'm missing something there? Their paper trading facility works well when you have access to it.

The other challenge I'd face with IB is the account size necessary to fit my risk model is much larger than I'd be willing to put down in an initial system deployment, being that I'd want to access stock index futures and possibly some commodity markets - trading the full futures contracts (or even the mini contracts for that matter). Where as these brokers offering CFD products allow you to be monitoring 15-20 or so markets and trade with reasonable risk levels on even a 10k account...

If I was willing to setup an LLC and just trade on IDEALPRO then IB could work well in that case... until I was willing to increase the account size somewhat.

 

[Jason Rogers]

Re FXCM, I only know them from the time they were a rip-off and bucket shop and I do not believe in this industry in miracles, a dishonest shop will not suddenly become client oriented and honors their trades.

Hi Zzzz1,

I've been with FXCM for over 12 years, and my colleagues and I strive to provide all of our clients with excellent service, so I'm sorry to hear of your negative experience. When did you have an account with us?

 

[Zzzz1]

One has to only read up on how you (not you personally) fleeced small players. Delayed execution. Order rejections at your own discretion. Stop hunting by moving market prices and up down and justifying that with the claim that you have your own price feeds that are different from anyone else. Shutting down profitable accounts. Encouraging small traders to leverage at deadly levels. Countless complaints and settlements with your regulators.

What else you need to know? All of the above is well documented on the Internet. Easy to find. But then you already know all that, correct Jason? As said it's a disingenuous industry and of course you could never admit how shady and dishonest fxcm has been. I won't debate facts but we can debate whether there is a chance for such shady player to suddenly rise from the ashes.

Hi Zzzz1,

I've been with FXCM for over 12 years, and my colleagues and I strive to provide all of our clients with excellent service, so I'm sorry to hear of your negative experience. When did you have an account with us?