FIX connectivity to execute trades

Discussion in 'Retail Brokers' started by papakipos, May 11, 2004.

  1. I've gotten tired of using TradeStation to sloppily execute my trades.
    So i've written my own FIX network protocol client and trading engine on Linux.

    So now i'm good to go. I just need brokers to tap into to get my trades onto their networks.

    Does anyone know of brokers who will deal with individuals, like me, who offer FIX connectivity over the internet
    to place trades?

    I've found one: MBTrading. And they seem ok so far.
    But i'd like more vendors. What other brokers support FIX connections over the internet?

  2. IB also offers FIX connectivity.

    You wrote your own FIX client?!? Essentially you are executing your own trades and running your own trading platform. Sounds like there may be some administrative duties running this software.

    Describe what you have an how it is used. What is the trading/order entry interface like? Does it keep track of your positions, order status, cancellations etc...? Or is it more like a low level FIX message sender/receiver?
  3. Steve_IB

    Steve_IB Interactive Brokers

    Matt, We can help you there. We offer FIX connectivity to our servers. You would need to have a direct line connection to one of our nodes - located in Switzerland, Hong Kong and the US. We also impose a minimum monthly commission level of US$2400 for FIX connections. PM if you need more info.
  4. IBsoft

    IBsoft Interactive Brokers

    Good timing. We are just starting a pilot program in which you can execute through us via FIX and NOT require a direct leased line. If you PM me how to reach you, I'll get you in touch w/ someone who can help you.

  5. Puff,

    Yeah, I wrote my own FIX client library
    and small execution system.
    It's about 3500 lines of code.
    It's made much easier by the fact that
    1) i don't need historical data, since i already have my system designed
    2) i don't need it to run ANY trading system, just my trading system. so the system is just hard-coded.
    It wasn't as hard as it may sound.
    The FIX library backend was the hard part. That's about 2900 lines of code. The trading system is only the remainder.

    In answer to your other questions:
    It's completely automated, no manually intervention allowed.
    It sends the orders, tracks the executions that come back, sends cancels, sorts out whether cancels really happen, etc.

    I was just not happy with tradestation execution.
    What do you use for execution?
  6. OK, i responded to IBsoft on a PM.
    FIX ordering over the internet is exactly what i'm looking for.
    thanks for the replies, folks.
    this is an impressive community of readers.
    That was a fast set of responses!

  7. I was looking into the FIX protocol some time back, mostly for use in packet analyzing ... (tcpdump).
    I was wondering if you included support for FIX encryption ?
  8. i haven't yet.
    i'm looking for a broker that accepts encryption.
    it shouldn't be too hard to do, I think.
  9. IBsoft

    IBsoft Interactive Brokers

    We let you connect through SSL and run FIX inside it.

  10. I use TWS for manual trading. Eventually I'd like to design some trading classes to wrap around their API and after that add some automation (If I can stay in the biz that long).

    Moving to a FIX level connection would logically be a last step.

    Question: You are self-executing your trades. Then you have your own Globex ID? You also have a 'clearing only' relationship with a broker. If an order gets messed up, you need to call the exchange directly and get it resolved yourself. Is that how that all works?
    #10     May 12, 2004