People, Have you any opinions/comparisons of Internet datafeeds of options real-time data? I need an API with transactions and markets. I also want an API through which I would send trades. Have you any experience with that? I know one can get it all at serious $$$/month -- I work for a firm on the PCX. But I am shopping for a modest home setup on which I could do some program scalping and don't want to lay my own T1's to each of the 5 exchanges. Thnkx Vitaly
I'm currently testing a new online risk management system for options which has some of what you seem to want. It's got real-time prices from quite a few exchanges in Europe and US and has a quite a few good risk management functionalities as well, stress-testing and p&l etc. It's called RiskBox - http://www.riskbox.com It's got a free testing running at the moment, so it's worth a look. Otherwise if you just want prices, i though quote.com did them? Duncan London, UK
Thanks for reply. I'd like to get transactions, i.e real-time trades (size, price & exchange), also in the API, and quotes by exchange. I want to take care of the analytics myself. I'll check out the riskbox though. Vitaly
Well in that case RiskBox sounds like it's the opposite of what you want - as it's for people like me who don't want to build their own analytics! Duncan
yes, i hope i can come up with better analytics than the garden variety. good inexpensive data and execution API is what i am shopping for.
Just a note. (API) application programming interface for option trading(computer generated on auto-ex ) is not allowed by the exchanges to my knowledge. I would call the CBOE or AMEX http://www.amex.com at amexfeedback@amex.com or call 212-306-1000 before connecting any API to see if there are any restrictions. API's are allowed for stock trading by NASDAQ/AMEX/NYSE if you are connected through your clearing firm or introducing broker. Gene Weissman Liebr & Weissman Sec., L.L.C. gweissman@stocktrade.net
Just a note. (API) application programming interface for option trading(computer generated on auto-ex ) is not allowed by the exchanges to my knowledge. I would call the CBOE or AMEX http://www.amex.com at amexfeedback@amex.com or call 212-306-1000 before connecting any API to see if there are any restrictions. API's are allowed for stock trading by NASDAQ/AMEX/NYSE if you are connected through your clearing firm or introducing broker. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
Thanks for the reminder, Gene. Do you know if the european exchanges have the same restriction? As I remember the ISE rules, they require every trade to originate through a "human element", which, it seems to me, pressing the "ok" button would satisfy. the way the electronic trades come in on the PCX, it's easy to forget about this restriction -- some of them seem VERY efficient.
vkupisk, I have no idea about Euorpean exchanges. We have an API(using REDI+) for stocks that works well. I assume that if the options exchanges lifted the restrictions, the API for options would also work well. The last time I heard, the CBOE was going to charge RAES trades-auto-ex $1.00 per trade for any cancels in excess of the number of orders . Call the CBOE to get the rule on this one. The point is the option exchanges don't want to be "picked off" by arbs. If you have access to the ISE option exchange, try this link. You will get flash fills for up to 10 contarcts most of the time. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
Thanks for the heads-up. ISE also has rules against non-memebers engaging in market-making (i.e. a lot of two-sided day trading). My guess is that the more electronic our exchanges become the less of this type of rules we'll see. These rules are very hard to enforce and only egregious violations are caught. Vitaly Kupisk Berkeley, CA