def, In addition to Dustin's question, do you know where I can get data for the HSI futures? I have Qcharts and couldn't find any symbols for non-U.S. exchanges. I, too, have a futures only account with IB. The HSI sounds interesting. What are the market hours there? Is it electronic like the globex stuff? Thanks for all of your help with our IB questions! Kirk
Thanks Def. I am new to IB. By the way, what is the diffrence between the java version and the pc version of the workstation. To me, the jave version interface seems more user friendly. Also, if I am trade the HSI using IB, is the order place directly to the HSI electronic system or it is executed by the broker there. -------------------------------------------- DO NOT CONFUSE BOLDNESS WITH STUPIDITY.
TWS 3.0 is a PC based version that will be eventually phased out when all the functionality (order depth for one) is available via the Java version. RE: HSI futures. Currently you'll need to open up a new account and fund with HK dollars. You'll get a different login name. (We soon may do FX transactions and may support multiple currency accounts but there are a number of regulatory hurdles that have to be solved. The Java platform actually may make things easier in this regard but I won't go into that here). Our HSI data feed is direct from the exchange and is dead on. Our entry speed is also great. The HKFE uses a different version of the OM trading system than ISE but we've got dedicated API's for clients and it is very fast. (On our prop side I use the TWS instead of the exchange click system as I find it easier and less error prone to enter orders). From our office the orders are virtually instant. From the states I imagine it will be about 300 milliseconds to execute a trade. Hours are 9:45 AM till 12:30, then 2:30-4:15. (currently 13 hour time diff from NY but will change to 12 in a few weeks). Thus maybe not the most appropriate thing to trade from the East cost but from the west coast it's a different story. As far as outside price feeds/charts... I'll have to check. http://www.quotepower.com (maybe .com.hk) is one. infocast, as well as a few others may have what you need. the HK exchanges web site http://www.hkex.com.hk has a link with a list of data vendors. (http://www.hkex.com.hk/invest/infovendors/hkfeinfovendors.htm) There are two futures available HSI and MHI. 1 HSI = 5 MHI. The multiplier for HSI is 50HKD (about 6.25 USD). Margin for HSI is 62,500 HKD per contract. I'd say this market is not for everyone as it can move very fast. If not sure, start with the mini. It is not as liquid but your downside is alot less.
Hi Def, Could you give an american dollar conversion of the HSI and mini? and also the margin requirement for this account? Also midwest Ohio here so the hours would be from 9pm to 4am basically correct? Great for us swing shift workers that work third shift at our "real" jobs. Thanks for any feedback
Def, When do you think will multiple currency accounts will be available so that one can daytrade the American,Euro- pean and Asian exchanges all with the same deposit ? If you could give an estimation in months... Virgin.
roughly 7.8 HKD = 1 USD, with the future at 13500 and a multiplier of 50 = about 86,500 USD per contract for HSI and 17,300 USD for MHI (mini). margin mentioned above in last post is about 8K USD per contract (1/5 less for minis). for latest figures, check http://www.hkex.com.hk and specifically: http://www.hkex.com.hk/futures/futuresmargin/margin.htm current rates: HSI Initial Margin: 62,500 HKD = about 8K USD Maintenance : 50,000 HKD = about 6.4K MHI : 12,500 HKD = 1.6K : 10,000 HKD = 1.3K I don't have a time frame on the multicurrency account. when I was in the states last it was a topic for discussion and on the agenda. I assume sooner rather than later but won't speculate. I try to get more info later this week.
Def, I have tried opening a IB futures account(USD) and noticed that the demo software is only the Java version. Can one "elect" to use the non-java sofware for futures ??? Also the corporate paperwork has some bugs in it at the online registration phase. It seems I have to print and send it in. (it won't take the signitures)
andrasm, sent you an e-mail with more detail. short answers - yes but TWS 3.0 will be phased out shortly. online application may be required to be completed online. The help desk should be able to work with you to resolve any problems with the signature.
i trade the mini sp and the hong kong futures mini sp is very fast, I prefer to use tws3 because it shows the market depth, but I guess they'll program the new one for that. executions take about 2 to 3 seconds. hong kong futures are much faster for some reason, maybe 1 second. market is very volatile, and useful to use the hot keys for faster access, and stop orders just in case the market goes crazy. biggest hassle is that you have to use hong kong dollars for hk futures and us dollars for us futures, but fortunately there is no exchange risk because the HKD/USD rate is fixed.