What kind of Software Interests you?

E

EliasHD

Hey everyone,

So I'm kind of new here, it's great to be part of the community.
I'm currently in the development stage of a trading algorithm for US stocks.
I was wondering what you think about the landscape and what kind of products you would like to have to help with you with daily trading.

Thanks everyone in advance!
Wishing you all gains!
Elias.
 
EliasHD said:
Hey everyone,

So I'm kind of new here, it's great to be part of the community.
I'm currently in the development stage of a trading algorithm for US stocks.
I was wondering what you think about the landscape and what kind of products you would like to have to help with you with daily trading.

Thanks everyone in advance!
Wishing you all gains!
Elias.
More...

I think you might want to review the "Landscape" created by the exchanges like the NYSE that charge non-display fees for automated traders where your overhead will be too large for all but the well funded. https://www.ctaplan.com/publicdocs/ctaplan/notifications/trader-update/Policy - CTA Non Display.pdf
 

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Robert Morse said:
NYSE SIP A and B plus delivery of them is $9000/month. OPRA is $2000/month but there is an exemption for some. Nasdaq is $375.
CME has non-display fees, but they are reasonable. I have a client that pays $170/exchange.

https://www.cmegroup.com/market-data/distributor/files/schedule-5-2016.pdf
More...

Robert,

The cmegroup spec sheet you linked says $375/exchange . Is the $170/exchange an old number or am I missing something?

I can't believe there is not a volume contingency on this. An OCO/OTO order is technically automated trading/non-display use.
 
EliasHD said:
Hey everyone,

So I'm kind of new here, it's great to be part of the community.
I'm currently in the development stage of a trading algorithm for US stocks.
I was wondering what you think about the landscape and what kind of products you would like to have to help with you with daily trading.

Thanks everyone in advance!
Wishing you all gains!
Elias.
More...

To be honest, what would help most traders, is software that scans newswires and media looking for triggers and creates a list where there is a tick ATR STD spike. Than individual traders can deploy algo's or trade manually based on what they are seeing.

Reacting within 30 seconds of a event would be ideal.
 
IAS_LLC said:
The cmegroup spec sheet you linked says $375/exchange .
More...


I find this stuff hard to follow too. Look below. CQG set up the MD and provided a proposal including these numbers for that client.

upload_2017-1-22_9-23-21.png
 
Ahh, I see. So if you get your data from a third party, you are a "managed user" . I'm about to go live with my Rithmic connection, and I have noticed there is a a parameter I need to populate when placing an order that indicates if the trade was placed automatically or manually.... now I know what its used for. I didn't anticipate this fee, but it sounds like I will get hit with it. $170 isn't bad, but there is something about fixed costs that make me cringe.

Thanks for sharing your expertise, Robert.
 
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