Can arcade users see detailed order book on Bund?

[maxima]

I was hoping that moving to IB (from SB company) will give me some technical advantages too. But I found that Eurex Bund future has only 5 levels in Order book and they are consolidated (sum of all order at each price). Therefore no IDs and no ideas how the price is structured.

IB told me that it what they have from Eurex.

I am just wondering - is there several Level II levels in Eurex? Can arcade users see detailed order book on Bund? Who can?

 

[DC STOXX]

the book is 10 deep, everybody should be able to see this and if you cant spank your broker

i don't believe anybody can see more than this, correct me if I'm wrong

 

[maxima]

the book is 10 deep, everybody should be able to see this and if you cant spank your broker

i don't believe anybody can see more than this, correct me if I'm wrong

OK. I just re-read IB answer. There is professional and non-pro subscribtion. As I am an individual I filled all the forms as non-pro.

I understand that individual can be in fact professional if he is an arcade trader who formally employee of the arcade.

Or am I missing here something?

 

[Advent]

As Black Star said, Eurex provide the total number of contracts available on 10 bids and 10 offers. No one can see more than this but I guess depending on your front end and anything between the front end and the exchange it's possible people can see less/ have slower updates.

I guess an individual can be a professional if he ticks the box that says professional. No arcade is likely to use a company like IB as they go straight to the exchange via a clearer such as Fortis.


By the way, more important than having more depth in your DOM is having the ability to read what's going on in there..... and that takes a hell of a lot of watching

 

[maxima]

As Black Star said, Eurex provide the total number of contracts available on 10 bids and 10 offers. No one can see more than this but I guess depending on your front end and anything between the front end and the exchange it's possible people can see less/ have slower updates.

I guess an individual can be a professional if he ticks the box that says professional. No arcade is likely to use a company like IB as they go straight to the exchange via a clearer such as Fortis.


By the way, more important than having more depth in your DOM is having the ability to read what's going on in there..... and that takes a hell of a lot of watching

Thanks. IB sent me official response saying that they display everything they got. Yes I know arcades dont use IB. I know how TS prints are important.

Any concrete names - with who I can trade my own money on Eurex at home part-time and not being bound with 2 yrs contract?

When I asked this a month ago - lot of senior members of this forum said - IB. Now it appeared not a very convenient solution for Bund.

Any other options? With european server and low commissions?

Please?

 

[grantx]

Black-Star, Advent,

20 bids/offers levels are avilable. See page 4 of attachment under sub-heading, "The interface offers:."

 

[Advent]

Sorry if I was telling you what you already know. I trade at a prop firm/ arcade myself and know little about the various brokers so can't really help.

A number of arcades offer remote services which will give you the best connection and commissions but I guess that will only be worthwhile if you are doing enough volume and I don't know how long they would want you to committ to.

At risk of telling you what you already know again.. Having all 10 prices rather than 5 is ideal but less important in my view than instant updates, reliable service, good support and low commissions and I say that as someone who trades mainly off what I see going on in the DOM.

 

[Advent]

Black-Star, Advent,

20 bids/offers levels are avilable. See page 4 of attachment under sub-heading, "The interface offers:."

Thanks, I stand corrected. Never seen it and don't need it but nice to know it's available to me and the competition.

 

[maxima]

Sbut I guess that will only be worthwhile if you are doing enough volume and I don't know how long they would want you to committ to.

I cant get that bit about arcades. If I fund a margin account and pay for connection, support etc and they are getting some volume and interest on margin (what is the problem for an arcade to have smaller accounts especially connected from home and not wasting their office space?

I dont see myself trading more than a 1000-1500 contracts a month comfortably for a good few months at least.

And also I hate strings attached. I already have a job. Why would I need another one?

 

[grantx]

Advent,

No, I'm not sure what use it could be, to be honest. Someone will come up with some black-box algrorithm to work it, no doubt.

Grant.

 

[Advent]

I cant get that bit about arcades. If I fund a margin account and pay for connection, support etc and they are getting some volume and interest on margin (what is the problem for an arcade to have smaller accounts especially connected from home and not wasting their office space?

I dont see myself trading more than a 1000-1500 contracts a month comfortably for a good few months at least.

And also I hate strings attached. I already have a job. Why would I need another one?

Hi,

I really don't know much about the remote access set up/ costs etc, only that it is available. when I mentioned that it may not be worthwhile doing if you're not doing enough volume I meant on your part rather than theirs. Your going to need at very least a license for TT and exchange connections (Roughly £750 per month) and you'll probably want a decent charting package and Bloomberg/ Reuters as well and I imagine the arcade will charge a fixed monthly cost as well. You need to get exact figures and do the calculations but would these costs be balanced out by the savings in commissions and other benefits?

Again I know nothing about contracts/ strings so can't help you there but bear in mind that to be successful trading has to be more than a job not less than one.

Sorry I can't help more. Maybe you could give a few of the bettter arcades a call and get some info direct from there. No strings with a phone call... but do some research on them first before you sign anything though - Not all Arcades/ prop firms are equal




Grant,

More algo boxes - just what we need

 

[maxima]

I really don't know much about the remote access set up/ costs etc, only that it is available. when I mentioned that it may not be worthwhile doing if you're not doing enough volume I meant on your part rather than theirs.

Thank you. That makes sense.

First few months I can save not using TT (it wont get me any advantage as I am not real scalper or spreader). I think something like FIX API should be available in arcade system. I can use cheap stuff (Ninja for instance).

Until I am sure I can do it for number of months in a row

 

[maxima]

No strings with a phone call... but do some research on them first before you sign anything though - Not all Arcades/ prop firms are equal

That what I am trying to do. But seems people would rather not to talk about it. No names no recommendations or otherwise. Dead silence.

Either it was too hard to get this info for them in first place so they wont share it for free

or they bound by contract not to tell what arcade they seat in.

mistery

I thought more clients - more money for the business eventually.


I got it! Perhaps people on good arcades are too busy to read forums (counting their profits!). And people on bad arcades busy heavy drinking to forget their losses

 

[grantx]

Max,

You don’t have a free choice re front-end – it has to compatible with their systems, and especially with regards to their oversight and control of traders. If this is not X-trader, it will still be an expensive alternative. I think it reasonable to assume 100% of arcades offer X-Trader, with maybe one or two alternatives. I’d be very surprised if Ninja Turtle Heroes is one of them since this is tied to specific quote vendors (correct me if I’m wrong) but not Reuters, Bloomberg, CQG. However, a price feed is not necessary for X-Trader – it also provides exchange prices. X-Trader charting via X-Study is problematic – a big grey area.

Although low volume, remote traders may not be as expensive to accommodate as the in-house traders, reluctance by some companies may be due to a lack of differentiation in back-office/support/admin costs. If these are fixed-costs, then higher volume traders are more cost effective.

“Remote” trading is cheaper, but it is still very expensive, as Advent illustrates. The only saving as far as I can see is the desk fee (although relocation/rent, etc will need to be included if moving to London).

The absolute minimum as far as I know are £20,000 trading capital, 2000 lots/round-trips per month. And then you have the fixed monthly costs to cover: X-Trader (£420 - £650 plus vat according to some), VPN (£100), one-off access/set-up fee (£100 - £500, but not all charge this), 80/20, 70/30 profit split (this could be based on net profit, gross profit, or drawings from account regardless of profit of loss; some take none but could be as high as 50/50). Then you have to make a good profit to breakeven.

Strings are attached to everything unfortunately.

Grant.

 

[maxima]

Thank you very much, it clears a lot of questions.

Just a small one. What is the ground to split profit? Good access and margin account?