We are trying to execute our strategy via our software and directly to the broker and we are looking for brokers with APIs. Our research has shown the following: === OptionsXPress - https://int.optionsxpress.com/toolbox/partners/xml_api.aspx with commissions of about $1.25/contract === Interactive Brokers (IB) - http://www.interactivebrokers.com/en/p.php?f=api&ib_entity=llc with commissions of about $.70-$1/contract === TradeStation - http://en.wikipedia.org/wiki/EasyLanguage with commissions of about $1/contract. One point to note is that TradeStation's EasyLanguage platform is NOT a true API and orders can only be executed via EasyLanguage and its not a full API as per the sales rep. So, if you want to execute more complicated trading strategies (e.g. if front month call IV exceeds) you wont be able to execute it there. === Are there any other brokers who provide API access and competitive commission structures?
Add MB Trading. Regarding Tradestation, I am pretty sure you can supply indicators/strategies as a DLL.
We have API access through Sterling Pro and Obsidian. Clearance through ML Pro and Penson. Rates are set based on AUM, Asset classes traded and expected monthly volumes. My rate sheet for assets over $250K are lower than the above. I sent you a PM with this info also. Anyone interested, send me an e-mail with your Name and contact information and we can set up a call to discuss it.
I think most brokers offer APIs now (except maybe Schwab). My understanding is that Lime, Fimat, MFGlobal, ABN, UBS all offer multple platforms/competitive rates/etc. for higher volume/balance accounts.