Triantus Shango
Sergeant Major
- Messages
- 1,371
i've got a question for sive or anyone who already trades with a prime broker.
it's regarding the difference between the data feed retail traders see and what the brokers see, incl the order book for those whose broker provides that.
i just got out of a netmeeting with a rep from FX Alliance (fxall.com) and he demoed the platform for me. those of you who are familiar with currenex, well it looks kinda similar. anyway, you have your bid/offer buttons, pair names and so on. what's interesting is that you see the liquidity pool and which bank is on the bid/offer and for how much.
also, there is another order book that is aggregated through lava and that one is anonymous, meaning there is no granular info as to who is on the bid/offer.
now, and here comes the question, the rep was showing me a price and ok... let me explain this better: for ex, say we have e/u now at 2210/2213. and in the order book you see all the orders above and below that price and size as well. say, you have GS on the offer at 2195, which is below market in this example. the rep said something like if you want to buy at 2195, that is, take GS's offer, then you can and you actually would now have a open buy order with actual entry at 2195 EVEN THOUGH market is at 2210/2213!
now is that truly possible? it sounded as if the guy was implying that if a bank wants to deal at a slightly different price level from the current market price, they could if you are willing to match that price. did i understand this properly or did the guy mispeak?
because if that is true, then, assuming you have the necessary size to play at that level, then player could strike deals at a better price and then immediately turn around for a guaranteed profit. somehow it feels like this doesn't make sense.
sive, guys, any ideas?
it's regarding the difference between the data feed retail traders see and what the brokers see, incl the order book for those whose broker provides that.
i just got out of a netmeeting with a rep from FX Alliance (fxall.com) and he demoed the platform for me. those of you who are familiar with currenex, well it looks kinda similar. anyway, you have your bid/offer buttons, pair names and so on. what's interesting is that you see the liquidity pool and which bank is on the bid/offer and for how much.
also, there is another order book that is aggregated through lava and that one is anonymous, meaning there is no granular info as to who is on the bid/offer.
now, and here comes the question, the rep was showing me a price and ok... let me explain this better: for ex, say we have e/u now at 2210/2213. and in the order book you see all the orders above and below that price and size as well. say, you have GS on the offer at 2195, which is below market in this example. the rep said something like if you want to buy at 2195, that is, take GS's offer, then you can and you actually would now have a open buy order with actual entry at 2195 EVEN THOUGH market is at 2210/2213!
now is that truly possible? it sounded as if the guy was implying that if a bank wants to deal at a slightly different price level from the current market price, they could if you are willing to match that price. did i understand this properly or did the guy mispeak?
because if that is true, then, assuming you have the necessary size to play at that level, then player could strike deals at a better price and then immediately turn around for a guaranteed profit. somehow it feels like this doesn't make sense.
sive, guys, any ideas?