NFA proposal for Forex Time and Sales ?

B

bfry5282

My understanding is that Forex brokers, probably those with ECN type trading, will in the near future be required by NFA to provide a Time and Sales.

At this time, my broker, MB Trading provides a Quote Stream, which is the closest their API comes to providing T&S. However, I believe true T&S is coming, once it is clear what the proposed NFA standard would be.

Does anyone have knowledge of this proposal, and how it is likely to be implemented?

HyperScalper
 
There is no centralized feed.....This will not help us...ECN feeds each dealer different banks from what I understand...ECN is not even centralized...but I could be wrong about this.

ES
 
It's not really necessary for there to be a centralized worldwide feed. Any Time and Sales will make Tape Reading possible in Forex, and will marginally improve predictability based upon Accumulation / Distribution estimates.

Yes, it's true that we won't see the entire worldwide Forex market, but that's probably not such a weakness. You could make the assumption that the ECN could be a representative sample of the total activity. Yes, that's an assumption, but I'm looking forward to it. On MB Trading, for example, their Depth of Market is not the entire world, but the predictability from deep analysis of the DOM is incredibly good for short term prediction. I don't think you need the "whole enchilada" to have a satisfying meal :) HyperScalper
 
I believe it is an issue of regulation and without a centralized regulated feed Retail Spot Forex will be what it is...a fragmented unregulated third world market filled with dealers that are thieves and can get away with it.

ES

Quote from bfry5282:

It's not really necessary for there to be a centralized worldwide feed. Any Time and Sales will make Tape Reading possible in Forex, and will marginally improve predictability based upon Accumulation / Distribution estimates.

Yes, it's true that we won't see the entire worldwide Forex market, but that's probably not such a weakness. You could make the assumption that the ECN could be a representative sample of the total activity. Yes, that's an assumption, but I'm looking forward to it. On MB Trading, for example, their Depth of Market is not the entire world, but the predictability from deep analysis of the DOM is incredibly good for short term prediction. I don't think you need the "whole enchilada" to have a satisfying meal :) HyperScalper
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