3rd party software Order Routing

Discussion in 'Automated Trading' started by Sky123987, Oct 26, 2007.

  1. Hi,

    I'm looking for the best way to automate my strategies. I'm not too interested in using the brokers API as if you change brokers you'll have to re program a whole new language. So I'm looking into the 3rd party software program where you write in their language, and have a variety of brokerage to choose from.

    Here are the requirements I'm looking for

    1) Must be able to Send OPG orders and MOC orders.

    2) Must be able to route to specific exchanges. For example if condition1 then buy.Arca else buy.NYSE

    3) Must be able to read data from Text Files

    4) Must be able to use more than 1 data source, and be able to place trades on both symbols, hence be able to do spread / pairs trading

    5) Must be able to connect to FIXs Standard FIX and TT FIX

    6) Must be able to use more than 1 strategy at a time.

    7) Must be able to understand all forms of data supplied by the broker. For example, this one broker that I would like to join releases Trade Imbalances. The software would need to be able to read this

    8) Must be compiled run

    9) Must be able to have a OnChange event handler, where if the current bid changes / last price / current as changes the code will re run. What I don't want only to be able to execute by the close of a bar

    10) < $150 / mo.

    The current platforms that I know of are
    Ninja Trader

    OpenQuant seems to meet this criteria the best however, it lacks #6. This is HUGE!!!! If I can't run more than 1 strategy in now way can I consider purchasing it.

    Does anyone know of any other 3rd party software that they'd recommend and meets the given requirements?