Hello everyone, I am a prop trader using Sterling software, and considering programming my trading stragegy as automated trading. Is there anyone using Stering trading software here? Is ATS well supported by Sterling? Thank you so much in advance.
Sterling has an API....albeit somewhat "warty"....but then again, there has been no API including Interactive Brokers without problems. My rec is for you to initially implement your ATS with Excel and the Sterling API. This will save you some $$$$. Once it is stable (and profitable), you can spend some big bucks to port it to C++ or other compiled languages.
Yes, my ATS runs on Sterling as well as other APIs (FIX, RedSky/ITG, Redi, TT, IB, ORC, Actant). I would tell you to avoid it if you can. It is essentially five year old technology that they have never updated. Not just the API, but the documentation as well. They simply don't care about API users. For lite weight stuff it is barely ok. I will say that I am not a typical user and that I have extremely high standards, FWIW. nitro
Nitro - for a company with a market share and strong software developers like Sterling, this is a bit strange, no ? My deep suspicion is they are afraid the use of the API will cut into the licensing fees of their "manual" platform. This is the same story at ESignal I believe...many have complained about that API as well.
I give you a two part answer. 1) For most traders on ET, really you can't go wrong with IB. When I was with RedSky (now ITG) they were truly the best. I don't know now that ITG has taken them over, but I imagine it is the same or better 2) After all the searching, and all the implementing of APIs, I just resigned myself that the best way is to get a direct connection to the ECNs (through Safety) by colocating at Equinix, and then having a clearing firm just clear you. No third party APIs, no BS. I wrote my software so that it is API agnostic, thinking this would solve the problem since I am not a slave to any API. Well, that is a good idea, but when they all have some point of contention, there is nothing like going straight to the source. This is the solution we will have in place in two weeks, but we took our wallet out. nitro
I use Sterling API and it suits my needs for my ATSes which are written in VB6. I have nothing to compare it to though. The documentation is seriously lacking.
Wow you really are quite the extremest when it comes to trading (in a good way though) 1. when you were @ redsky, did you remember the # number of orders you could send in per second? 2. How much does it cost / month to colocate @ Equinix? 3. So you don't use any API @ all. Tell me if this is correct...You have to be using some 3rd party something or else how would you send in orders?? Is it that you are using the classes / functions of the ECNs? So then you don't have a broker right, just a clearing firm? If I may ask when it all comes down what do you pay / share? All in all, if I understand it 100% or not, that's IMPRESSIVE!
Abstract your system from a concrete market feed provider, use FIX as your OMS, and you won't have any single headache about all that crappy API business. You'll have to code everything by yourself, but the upside is that you have control over a single piece of functionality. It takes a lot of time and effort, but makes a huge sense in a long run.