{quote} FXCMprime, Saxo are pure bucketshops. FCSTONE in US, I prefer UK . EBS MARKETS are not EBS prime.
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We are talking about prime of prime, not (retail) trading platforms. So FXCM is(/were?) offering prime of prime solutions, just like Saxo bank; its only a credit and clearing facility for you - nothing more and nothing less. You will decide what platform you will trade on.
FCStone is operating in the UK as well; most probably you can setup an account in the UK. But you will have to ask them.
EBS Prime does not exists. The ICAP EBS product flavors are: EBS Markets (undisclosed interbank; 1m min size), EBS Direct (disclosed lp's 100k min size) and EBS Select (their new undisclosed model; 100k min size).
{quote} We are talking about prime of prime, not (retail) trading platforms. So FXCM is(/were?) offering prime of prime solutions, just like Saxo bank; its only a clearing facility for you - nothing more and nothing less. You will decide what platform you will trade on. FCStone is operating in the UK as well; most probably you can setup an account in the UK. But you will have to ask them. EBS Prime does not exists. The EBS product flavors are: EBS Markets (undisclosed interbank; 1m min size), EBS Direct (disclosed lp's 100k min size) and EBS Select...
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Thanks for advise.
I mean EBS Markets through EBS PrimeBank.
As from 15m clips it can makes sense if you truly want to be undisclosed and just want to be done. Everything below that is not economically sensible; you are cheating yourself from better prices and commission then. On a 10m clip order you can save $225 and more by executing at an alternative ECN and still experience the same execution on an undisclosed basis. But regardless - it's just a business and/or personal decision I guess.
{quote} Thanks for advise. I mean EBS Markets through EBS PrimeBank.
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If you are looking for EBS access via a PB, then you just need to open up an account at a PB and not looking for a PoP. But a PoP will give you the same access, since its direct via their PB; just another 25m+ hop you don't have to take...
{quote} As from 15m clips it can makes sense if you truly want to be undisclosed and just want to be done. Everything below that is not economically sensible; you are cheating yourself from better prices and commission then. On a 10m clip order you can save $225 and more by executing at an alternative ECN and still experience the same execution on an undisclosed basis. But regardless - it's just a business and/or personal decision I guess.
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what ECN do you use and size of orders? After bank execution on EBS or 360t full amount, ECN partial execution looks strange, hope you understand,
{quote} If you are looking for EBS access via a PB, then you just need to open up an account at a PB and not looking for a PoP. But a PoP will give you the same access, since its direct via their PB; just another 25m+ hop you don't have to take...
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I have my bank as PB for me on EBS and 360t, but I want to find new PB or PoP with better overall conditions. PB bank more complicated process and longer, PoP much easer.
{quote} what ECN do you use and size of orders? After bank execution on EBS or 360t full amount, ECN partial execution looks strange, hope you understand,
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Im using various of ECN's depending on the orders (size and pairs). But main ones that im using are Bloomberg Tradebook, Hotspot, Currenex, FXALL and Fastmatch. There is nothing wrong to chopping your orders up into 5M clips and just execute them across the various of ECN's; that's the beauty of the FX market structure.
If you don't want your size to be partially executed, even tho you will most probably get fully done on a better rate you will get on EBS Markets then I would advice to start looking at Currenex Big; its a pretty good product.
{quote} Im using various of ECN's depending on the orders (size and pairs). But main ones that im using are Bloomberg Tradebook, Hotspot, Currenex, FXALL and Fastmatch. There is nothing wrong to chopping your orders up into 5M clips and just execute them across the various of ECN's; that's the beauty of the FX market structure. If you don't want your size to be partially executed, even tho you will most probably get fully done on a better rate you will get on EBS Markets then I would advice to start looking at Currenex Big; its a pretty good product....
{quote} If you are looking for EBS access via a PB, then you just need to open up an account at a PB and not looking for a PoP. But a PoP will give you the same access, since its direct via their PB; just another 25m+ hop you don't have to take...
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YOU MEAN 25$ PER MIO? Where do you take such figures? Banks charge PoP $1per Mio, now 1.25. PoP charges 6$ per Mio after 1bln month flow.
{quote} Im using various of ECN's depending on the orders (size and pairs). But main ones that im using are Bloomberg Tradebook, Hotspot, Currenex, FXALL and Fastmatch. There is nothing wrong to chopping your orders up into 5M clips and just execute them across the various of ECN's; that's the beauty of the FX market structure. If you don't want your size to be partially executed, even tho you will most probably get fully done on a better rate you will get on EBS Markets then I would advice to start looking at Currenex Big; its a pretty good product....
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Do you work at bank? My bank's traders use all these stuff plus some more, depends on order size, currency, etc.
{quote} I have my bank as PB for me on EBS and 360t, but I want to find new PB or PoP with better overall conditions. PB bank more complicated process and longer, PoP much easer.
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Well I believe ive read in this thread you have a PB that is located in Zurich? So either Credit Suisse or UBS or Julius Bar. Don't know about Julius, but if you want better conditions then CS and UBS and you have a PB with them then I assume you wont have any issue getting settled at a new PB. Who of those 3 do you have?
I would advice you to start a chat with ABN-AMRO; probably this might be right for you assuming you won't have any issues on the collateral since you already have a PB, so you should have the capital is my wild guess.
Anyway good luck with the search! Lot's of traders are moving around these day since PB's start kicking clients out and higher up the requirements in all ways.
{quote} Im using various of ECN's depending on the orders (size and pairs). But main ones that im using are Bloomberg Tradebook, Hotspot, Currenex, FXALL and Fastmatch. There is nothing wrong to chopping your orders up into 5M clips and just execute them across the various of ECN's; that's the beauty of the FX market structure. If you don't want your size to be partially executed, even tho you will most probably get fully done on a better rate you will get on EBS Markets then I would advice to start looking at Currenex Big; its a pretty good product....
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About Currenex Big, what's typical spread on EURUSD on 5 Mio order per side?
{quote} Well I believe ive read in this thread you have a PB that is located in Zurich? So either Credit Suisse or UBS or Julius Bar. Don't know about Julius, but if you want better conditions then CS and UBS and you have a PB with them then I assume you wont have any issue getting settled at a new PB. Who of those 3 do you have? I would advice you to start a chat with ABN-AMRO; probably this might be right for you assuming you won't have any issues on the collateral since you already have a PB, so you should have the capital is my wild guess. Anyway...
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CS. The main headache is time. I know about ABN PB service, will speak with them, but again it takes months of KYC process.
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