I have been trying to put together a pros/cons list on both. This is mainly what I've heard. If i'm not entirely sure I put a question market next to it. If you have things to confirm/add/refute, please feel free to reply. ============================================= PROS: Lightspeed: Better remote stability Most people say it handles fast markets better and is generally more stable Fast execution for discretionary trades Sterling API that is integrated w/ the front end Access to floor brokers via API Better routes? CONS Lightspeed: API not integrated with front end (they are working to complete this within a couple months) Less routes than Sterling? MOC has a reroute through Jeffries and costs more? Sterling: Known freezing issues in fast markets API rate limitations for sending orders
pretty good... although lightspeed has been saying they're going to fix the front-end api integration issue for years. also not all sterling brokers have a rate limitation on sending orders. that is only true if the broker/firm is using their shared infrastructure. lightspeed also is supposed to have better imbalance data.
As a trader who has used both softwares I would say you list is pretty close to perfect. Lightspeed has a lot less routes when it comes to Dark Pools but I am not sure what type of trader you are so don't know if that will matter to you. The other thing I would check with your broker is if they have their own server with LS or if the are using their VPN, if they are using their VPN at times of high volune it is crap, I would have my level 2 and TAS go all white for 10-20 seconds and would not be able to trade. All in all both are good it really depends what type of trader you are and what would work best for that style of trading.
this thread was an year old; so thought i would re-activate it and see if there is any input about Lightspeed vs Sterling. I will be trading a basket of 6 etfs; all liquid (SPY, QQQ, IWM, FXI and a couple others); intraday with an ave. holding period of about 35mins. I have tried (demo'ed) both platforms and for what i do looks like either of them is equally good (or bad; neither has a ladder to trade equities off of). One more difference: Lightspeed is free and there is a monthly cost of about $100-$150 for Sterling. -gariki