TT's FIX ADAPTER vs. TT's X Trader API

J

joe_k

Hallo,

I am interested in TT Trading solutions. Where are the benefits and drawbacks of TT's FIX ADAPTER and TT's X Trader API? Could somebody test the latencies? What were the results? Which of them provides more functionality? Or are there other important or interesting facts to take into account?

The X Trader API can be used only in tandem with the X Trader Application. The 3rd part application sends the order first to the X Trader. Could this be the point where the latency arise?

Which of them would yout take to connect your trading system to the exchange? (the latency plays important role = intradaytrading)

Thanks Joe
 
In terms of performance I don't think you'll see that much of a difference. The main difference is that the API requires you to be running X_TRADER Pro, as opposed to the FIX Adapter which can be run headless. The other difference is price... Although it will vary from broker to broker, X_TRADER Pro costs $1500/month and the FIX Adapter is quite often offered for free with a 10 cent surcharge per contract.

In my mind the API would be most appropriate if you wanted to run X_TRADER side by side with your application, and the FIX adapter would be most appropriate if you wanted to write an application that ran completely independent of X_TRADER.
 
The XT_API does require that X_Trader Pro be running, and all actions from XT_API do go through the X_Trader Pro app, but in my experience, there is no overhead. The advantage to using XT_API is that X_Trader Pro handles all order management for all orders put in via an XT_API "add-on". So, if you want to manually cancel an order, you will see your order on X_Trader Pro screens. You will automatically see the fills, etc...Now, you can always run X_Trader Pro on a separate machine, and this does separate your automated order flow from X_Trader Pro.

Outside of that, if you use FIX, and you don't want to run X_Trader Pro at all, then you have to build all the order management stuff, so you can figure out if you have been filled, be able to cancel orders, etc...

The XT_API native API treats all markets the same. The FIX API has some exceptions for markets here and there...

As far as market data via FIX, generally it is a pain, and might actually be slower than their native API, unless they are using FAST FIX under the covers (I do not know).
 
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