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  • #461
  • Jul 22, 2015 7:54am Jul 22, 2015 7:54am
Quoting plotinus82
{quote} The depth of market in your screenshot is designed for retail, not for book sweeping. If that's your question.
How to conclude that? and what exactly is book sweeping here?
  • #462
  • Jul 22, 2015 8:43pm Jul 22, 2015 8:43pm
Quoting plotinus82
{quote} Well if my prime of prime broker is taking retail clients I would be leaving immediately... Some pricing streams are set up for retail sub 500 k flow, some are for 1 - 5 mio some are for 10 mio +. If my broker starts taking non professional institutional flow and accepting 10 k deposits giving them 1% margin, I would be leaving immediately, toxic for my streaming prices, and dangerous for their balance sheets. There's a reason why retails trade on other venues...
Brokers cater for both retail and institutional clients.

The price stream is segregated however.

Institutional clients wont see retail price stream and cant hit that and vice versa with retail.

From a banks point of view being a price maker this is exactly what they want.

Its the skill of the broking firm to keep all parties happy directing the correct pricing for the appropriate client.
  • #463
  • Jul 22, 2015 11:46pm Jul 22, 2015 11:46pm
Quoting lasty
{quote} Brokers cater for both retail and institutional clients. The price stream is segregated however. Institutional clients wont see retail price stream and cant hit that and vice versa with retail. From a banks point of view being a price maker this is exactly what they want. Its the skill of the broking firm to keep all parties happy directing the correct pricing for the appropriate client.
So retail flow is kind of more markup product and offered as snap shot quotes while institutional is streaming non marked up and real participants flow? here segregated meant for isolated from each other they never meet during flow in matching orders?
  • #464
  • Jul 23, 2015 12:32am Jul 23, 2015 12:32am
Quoting lasty
{quote} Brokers cater for both retail and institutional clients. The price stream is segregated however. Institutional clients wont see retail price stream and cant hit that and vice versa with retail. From a banks point of view being a price maker this is exactly what they want. Its the skill of the broking firm to keep all parties happy directing the correct pricing for the appropriate client.
Exactly... It's about having the correct stream for the correct size
  • #465
  • Jul 23, 2015 1:05am Jul 23, 2015 1:05am
Guys, read this article, it's about liquidity and contains some interesting stuff:

https://www.tradertools.com/download...%20Article.pdf
Forex is a losers game.
  • #466
  • Jul 23, 2015 2:07am Jul 23, 2015 2:07am
Quoting trader121
Guys, read this article, it's about liquidity and contains some interesting stuff: https://www.tradertools.com/download...%20Article.pdf
Once one goes on a single bank platform or a FX trading floor, the creation of liquidity becomes quite obvious.

Spreads are used to allow traders on the floor to be able to cover their ass by making markets, hence the larger the size the larger the spread.

Eg: If a fund wants to build a 1 billion dollar position, they'd hit multiple bank in 50 million clips, why? Because spreads will stay within 2 - 3 pips and once you spray flow like this out to 10 LPs the market will move. Though different funds have different preferences, eg when Jim Simons was still managing renaissance he would take minutes to build up a position so that the market doesn't move. Depends person to person.

Good article still.
  • #467
  • Jul 23, 2015 5:07am Jul 23, 2015 5:07am
Quoting trader121
Guys, read this article, it's about liquidity and contains some interesting stuff: https://www.tradertools.com/download...%20Article.pdf

Honestly, I don't understand how is it possible to trade big amounts on ECN with partial execution and VWAP???
The only thing I know that all big players and speculators use only Single Bank platform for trading, and there're no Last Look on it.
All big banks also offer ECN style trading, like Gator on Barx or on Autobahn. But they're warning that all that stuff only works with orders of 5 mio. maximum!
  • #468
  • Jul 23, 2015 8:03pm Jul 23, 2015 8:03pm
Quoting M967
{quote} Honestly, I don't understand how is it possible to trade big amounts on ECN with partial execution and VWAP??? The only thing I know that all big players and speculators use only Single Bank platform for trading, and there're no Last Look on it. All big banks also offer ECN style trading, like Gator on Barx or on Autobahn. But they're warning that all that stuff only works with orders of 5 mio. maximum!
Certain platforms now are offering algo execution which can be set to a time frame or price in executing large size orders without disturbing the price.

It is similar to giving a large order to a bank and telling them to execute quietly.

However given the fiasco over front running etc Algo or robot orders are the way forward as no trader can be accused of front running .
  • #469
  • Jul 24, 2015 4:48am Jul 24, 2015 4:48am
Quoting lasty
{quote} Certain platforms now are offering algo execution which can be set to a time frame or price in executing large size orders without disturbing the price. It is similar to giving a large order to a bank and telling them to execute quietly. However given the fiasco over front running etc Algo or robot orders are the way forward as no trader can be accused of front running .
That's exactly what single bank platforms do
  • #470
  • Jul 24, 2015 5:29am Jul 24, 2015 5:29am
Quoting lasty
{quote} Certain platforms now are offering algo execution which can be set to a time frame or price in executing large size orders without disturbing the price. It is similar to giving a large order to a bank and telling them to execute quietly. However given the fiasco over front running etc Algo or robot orders are the way forward as no trader can be accused of front running .
All Single bank platforms have full spectrum of algo tools.
  • #471
  • Jul 25, 2015 5:12am Jul 25, 2015 5:12am
damsn. some conc stuff here. didnt know we are isolated as far as liquidity is concerned.for pros and for retail clinets.but @plotinus82 you need to explain more about this toxic flow you hate so much.i thought ecn was one big market both retail and pros trading with one other.how many ecns are there really
  • #472
  • Jul 27, 2015 10:07pm Jul 27, 2015 10:07pm
Quoting M967
{quote} All Single bank platforms have full spectrum of algo tools.
So do Aggregators .

Barx platform has an algo called Gator which will allow the client to go into multiple ECN's and work the order as well as their own clients .

Brokers are now opting for a similar method whereby allowing client to client rather than going to the market .
  • #473
  • Jul 28, 2015 3:56am Jul 28, 2015 3:56am
Quoting lasty
{quote} So do Aggregators . Barx platform has an algo called Gator which will allow the client to go into multiple ECN's and work the order as well as their own clients . Brokers are now opting for a similar method whereby allowing client to client rather than going to the market .
BARX isn't too impressive, Velocity is a good system, Autobahn a bit meh on the give up costs, but tbh, the best eFX provider in the market is in fact JP Morgan. Someone I know who runs a 4.5 Billion fund puts around 40% of their flow to JP Morgan on a aggregated basis (Meaning best price available).

Most funds still however trade by the phone with their dealers.
  • #474
  • Jul 28, 2015 6:25am Jul 28, 2015 6:25am
I assume nowadays there're no possibility to use any single bank platform and trading through bank feed on margin base. Entry ticket for banks now 5mio.
The only way if you find some PoP and it agrees to settle your trades through 3d party venues through Triana on commission base.
There's HSBC Oanda white label trading in Hong Kong but in EU/US NO.
  • #475
  • Jul 29, 2015 1:16am Jul 29, 2015 1:16am
Quoting M967
I assume nowadays there're no possibility to use any single bank platform and trading through bank feed on margin base. Entry ticket for banks now 5mio. The only way if you find some PoP and it agrees to settle your trades through 3d party venues through Triana on commission base. There's HSBC Oanda white label trading in Hong Kong but in EU/US NO.
Citi Margin FX through velocity still around? I looked at that a bit before
  • #476
  • Jul 29, 2015 3:23am Jul 29, 2015 3:23am
Quoting plotinus82
{quote} Citi Margin FX through velocity still around? I looked at that a bit before
No. It is closed.
  • #477
  • Edited 4:25am Aug 10, 2015 2:51am | Edited 4:25am
Plotinus82,

Would you share whos the broker that you took the cnx screenshot off?

I'm curious because I'm currently looking for a reliable larger retail/inst broker.
  • #478
  • Aug 10, 2015 9:28am Aug 10, 2015 9:28am
Quoting SlowFlow
Plotinus82, Would you share whos the broker that you took the cnx screenshot off? I'm curious because I'm currently looking for a reliable larger retail/inst broker.
I asked ,too
but no reply.
  • #479
  • Aug 10, 2015 6:21pm Aug 10, 2015 6:21pm
Not sure why me previous post was deleted, but anyway.

So whats the view on Baxter-FX? I've had a look and they appear to have an office in Sydney but head office in Dublin Ireland? How does this work for regulation, fund security? Does any one have a knowledge of their spread+coms and how easy are they to open an account with? I've had a chat with CFH and based on some of the required info I felt like i was going through an audit.

Also what would people say about Velocity Trade?
  • #480
  • Aug 10, 2015 7:18pm Aug 10, 2015 7:18pm
Quoting SlowFlow
Not sure why me previous post was deleted, but anyway. So whats the view on Baxter-FX? I've had a look and they appear to have an office in Sydney but head office in Dublin Ireland? How does this work for regulation, fund security? Does any one have a knowledge of their spread+coms and how easy are they to open an account with? I've had a chat with CFH and based on some of the required info I felt like i was going through an audit. Also what would people say about Velocity Trade?
They are respectable i used to manage a fund for AK investment Ltd. they are an exchange in albania and they use baxter to hedge there existed currencies

go for them and they only ask for 25000$

all have a nice day
focus while relaxed to see better
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