Order Entry API

Discussion in 'Retail Brokers' started by vikana, May 22, 2001.

  1. vikana

    vikana Moderator

    I am looking for a broker that provides an order entry API.

    I would like my software to place buy and sell orders automatically. MyTrack appears to offer such capability through their SDK, but given their fairly high commisions, I'd like to see if I can find another broker.

    eSignal appears to offer a similar capability with select broker-partners; but they do not make the API available outside their partnership circle.

    Any recommendations ?

    Thanks in advance !

     
  2. There is free software available for Qfeed users (Quote.Com)
    and Datek. There is also free (for now) FIX software available from John Cameron at jc@cameronsystems.com. IB and other brokers allow you to access their order entry via FIX protocol

    Buttermilk
     
  3. tntneo

    tntneo Moderator

    what is the FIX protocol ?
    Where can I get info about it ?
     
  4. def

    def Interactive Brokers

  5. tntneo

    tntneo Moderator

    Hi Def,

    Is it true IB uses it ?
    But I guess we can't access the API anyway through JTWS..
    just curious.

    vpiNeo
     
  6. def

    def Interactive Brokers

    hi,
    if you want a CTCI (computer to computer interface) into IB, you would connect your front end via the FIX protocal to route via IB. It is available but would probably only be worth it for highly active traders. If interested the best thing to do is to contact a sales rep from the web site.

     
  7. To use IB FIX you need to generate at least $2400 in commissions per month. You would also need a high speed data link to their system (T1?). I think MB Trading also allow the use of FIX. FIX is ideal for Trader with automated trading systems.
     
  8. vikana

    vikana Moderator

    Hi everyone,
    Thank you for all the feedback. Here is what I found out:

    * IB offers their institutional interface based on FIX. Mininum commision of $2400/mo plus a dedicated link required. Of everyone I spoke to IB was by far the most responsive and helpful. I'll have to see if my trading can support the flat cost.

    * DBC/eSignal. Does not want to deal with "individuals". They will entertain licensing you their APIs upon "approval" of your business plan, provided you are a company. They are very concerned about having people programming against their servers and what that could do to data integrity. Looking at Quote.com, I think they have a point.

    * myTrack appears no longer to offer API support of their trading/order subsystem

    * As ButterMilk pointed out, there are a number of "hacks" that allows you to exploit that some web-brokers are HTML based. DATEK is a good example. This is well documented on the Yahoo groups for qfeed.

     
  9. vikana

    vikana Moderator

    Re: myTrack.

    Their C++ api's support order-entry, the Java API does not.
     
  10. <QUOTE>They are very concerned about having people programming against their servers and what that could do to data integrity. Looking at Quote.com, I think they have a point.</QUOTE>

    vikana, sorry but what does this mean exactly?
     
    #10     May 26, 2001