I am looking for a firm for pairs trading , do you know any firm specializing on pairs? I need to have a opportunity for cheap large leverage for overnight and a possibility of broken lot.
How much capital are you looking to put up? Bright does pairs trading but I don't know their minimum deposit. 1245
We have been working with a small firm and have a problem with a fee of overnight and a commision for broken lot( e.g. 81 shares instead 100) because we have to open about 50-60 position it take a lot money. Now we have leverage 1-6 for overnight, firm want to increase to 1-10, but they could not decrease a overnight fee and fee of broken lot and they could not give to us a FIX protocol.
Broken lot otherwise known as odd lot will be an issue at any firm. Sounds like you will need to increase your deposit, I don't think you will find a firm that will give you 1-10 over night.
You are right about Odd lot, we have found a firm with 1-10 overnight for pairs becouse we have a lot small market neutral positions , but it small off-shore firm, very small for our needs. Our deposits is fine. But we want to increase our profit.
they do $50K if you bring your own strats and just need brokerage and you only get to carry 6x ... after some time/track record, they probably would do more... that is what I was explained when I asked them directly...
the firms i have used before didn't allow odd lot shares so i had trouble being $neutral. is there any way around this where i can trade odd lots?