FIX-capable EDAT brokers

Discussion in 'Retail Brokers' started by virnaem, Feb 5, 2001.

  1. trinfo



    FIX is an open protocol that is used for the networking of financial transactions and information - in English that means that orders and quotes can be sent between computers without the computers having to be running the same software or operated by the same company.

    FIX is only directly relevant if you are a developer wanting to write a program that uses FIX to send/receive orders. If you are not into writing lots of software yourself, it still may become useful through a 3rd-party app that allows you to enter your trading system and have it executed. This would be similar to how Omega will be tying in their TradeStation Pro to a broker to allow a trading system to actually execute orders (although I doubt their software uses FIX).
    #11     Feb 19, 2001
  2. def

    def Sponsor

    Here's the feedback I rec'd....

    1. We have several "retail" clients who have written their own CTCI's which apparantly are working quite well.

    2. We require that for this type of connection a lease line is used. First, FIX only supports a trivial form of authentication and second, the general feeling is that anyone who wants to invest the time and money to develop a CTCI must have very different performance requirements in mind versus the TWS. In particular they must want to do many trades with such speed that using the Internet is simply too unreliable.

    3. The computer to computer connection does not supply a price feed (I think we can offer one but it is costly) and thus you'll need to invest in your own data supplier.

    4. This one I did not note down properly so my facts may be wrong but I believe if you trade NYSE stocks, each new connection has to be approved by them as well.

    We have had a third party write code for a number of connections and if interested let know.

    I wouldn't rule out that the lease line requirement be relaxed at some point in the future and/or we have a third party app that someone can write into. But for now, I don't think IB can provide what you're seeking at the cost you desire.
    #12     Feb 19, 2001