Yeah they do (e.g. EFX, interactive etc.). The only ones I know about that trade 100k lots are hotspot.
Since there is no prey around today and I am still full from yesterday, I would like to take a bite out of this dialog. First, hey Lon whats up. Second, Igor look at the top of your CurreneX toolbar and uncheck partial fills. Third, ECN cheap, cheap, cheap, Lon is absolutely correct on this, the fees are wayyyy reasonable, better that paying a spread. Hotspot is $20 per M. and CurreneX is negotiable from $50 on down depending on account size. Now if you are paying a spread and fees, like some brokers charge then stick with fixed spreads. Now as far as counterparties are concerned, unless you have size or a direct relationship with liquidity providers (banks, hedges etc) the counterparties will be other traders or whoever is the white label provider. The only exception to this would be a liquidity provider who is sucking up small size by submarining partial fills, it happens but not all the time. In other words the thought of "wow some bank just hit my 50k units, that's cool" is not, in general a reality. Oh and by the way, Lon, was that you last thursday, for what seemed like all morning on the EUR bid at 10M, for a total of about 3/4 of a yard? If it was, cut it out, it messes up my system The ever informative VIPER
One thing to note...depending on the platform / broker you choose you can actually be hit by other traders...so your 50K bid could be picked off by someone...not sure if your in that situation viper with your platforms ...Currenex?
Yes that is what I am saying, you will be taken out by another trader inside your liquidity hub and not a bank. The Ever Liquid VIPER
FX Trades, and we work within our white label providers hub. The Ever Working Within Our White Labels Hub
Hey Ice, I like both. But Hotspot does have one distinct advantage to CurreneX, you can get a Hots direct feed for charting from esignal and use their charting or a third party. This feed makes a direct match between the execution platform and the charting. I also like their platform better, but the new Cx platform looks just like the Hots platform, I hope they finish it soon. And don't forget about the Cx hubs, they can always add more liquidity if needed. But they usually fence you in until you can show that you need more liquidity or if you are ready to start trading some size. With Hots you get the lock, stock and barrel right from the get go. Cx just gives access, so you have to go to a broker to get access to the Cx market. With Hots you can open an account directly with them, institutional and retail. Anyway we are using CurreneX right now because of our relationship with our White label Provider. They have treated us very well and the prices are the same. Well not exactly, to get the price on the Cx down you need to execute more size, but that is negotiable. We trust our Provider, some might say too much, in fact I would guess if Dr. Elder would hear how much we trust them he would laugh at us. But I will tell you this, if there is a problem and I or our CIO whines, they get right on it to correct the problem. This is why we have not changed to Hots. The Ever Cautious VIPER