I have a setup which trades on news, and I am competing with people who can trade faster than me. I know this because I previously could execute these trades, but recently competition has increased and by the time I get my order to market, it's too late. By this, I mean my limit orders placed about 1% over market are no longer any good.
I use Interactive Brokers, and I know they are considered one of the fastest in terms of general purpose brokerages. However, I believe that my competition probably has access to something significantly better. I don't understand what goes on "behind the scenes" well enough to know which systems or setups -- or which people -- have access to a significantly better trading platform. My NASDAQ executions probably go through in a second or so, but I believe theirs are more on the order of a few tenths of a second.
I want to know where I would go to get to the next tier in terms of execution speed. I would be willing to pay $$$ per month just to have access to such a service. If there's another general purpose broker which is faster (like MB trading), I'd be interesting in knowing that. But probably what I need is a more professional service even than that, which might cost a few hundred or even couple thousand a month.
Also, I realize there's a good possibility that those I'm up against already have access to something which is superior to anything I could get access to. I do not know how large the disparity is between the technology which the pros have, and which an amateur willing to pay a few thousand a month could have. I'm sure this disparity is much smaller than it used to be, but I don't know where it stands today. I am ONLY referring to the execution side, not to the news/signal side -- that I have under control. Your input is appreciated!
Thanks!
John
I use Interactive Brokers, and I know they are considered one of the fastest in terms of general purpose brokerages. However, I believe that my competition probably has access to something significantly better. I don't understand what goes on "behind the scenes" well enough to know which systems or setups -- or which people -- have access to a significantly better trading platform. My NASDAQ executions probably go through in a second or so, but I believe theirs are more on the order of a few tenths of a second.
I want to know where I would go to get to the next tier in terms of execution speed. I would be willing to pay $$$ per month just to have access to such a service. If there's another general purpose broker which is faster (like MB trading), I'd be interesting in knowing that. But probably what I need is a more professional service even than that, which might cost a few hundred or even couple thousand a month.
Also, I realize there's a good possibility that those I'm up against already have access to something which is superior to anything I could get access to. I do not know how large the disparity is between the technology which the pros have, and which an amateur willing to pay a few thousand a month could have. I'm sure this disparity is much smaller than it used to be, but I don't know where it stands today. I am ONLY referring to the execution side, not to the news/signal side -- that I have under control. Your input is appreciated!
Thanks!
John
