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Attachments: Can a Market Maker broker offer an ECN account?
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Can a Market Maker broker offer an ECN account?

  • Post #1
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  • First Post: Nov 18, 2014 2:07pm Nov 18, 2014 2:07pm
There are numerous discussion about MM and ECN brokers. However, some brokers are MM, but they offer ECN accounts too.

When the strategy of a broker is to make money by market making, can you trust its true ECN account?
Quoting etrade
There are numerous discussion about MM and ECN brokers. However, some brokers are MM, but they offer ECN accounts too. When the strategy of a broker is to make money by market making, can you trust its true ECN account?
Sure they can but under different platforms.
Yes they can. No need to offer ECN under a different platform, they can integrate a module that traces orders straight to liquidity providers.
Quoting etrade
There are numerous discussion about MM and ECN brokers. However, some brokers are MM, but they offer ECN accounts too. When the strategy of a broker is to make money by market making, can you trust its true ECN account?
Yes! Anything Is Possible.
:: everything is awesome ::
Quoting mickeym
Yes they can. No need to offer ECN under a different platform, they can integrate a module that traces orders straight to liquidity providers.
That's STP not ECN.

A true ECN is where you can trade and face the brokers clients on your platform in other words an exchange.
LMAX is an example of this.

HotspotFX EBS markets and Reuters for institutional/interbank
lasty,
please take a look at this scheme. Is it ECN?
:: everything is awesome ::
Quoting Black Fox
lasty, please take a look at this scheme. Is it ECN?
Yes that looks like ECN to me as a client can face another in the same "exchange"
Quoting etrade
There are numerous discussion about MM and ECN brokers. However, some brokers are MM, but they offer ECN accounts too. When the strategy of a broker is to make money by market making, can you trust its true ECN account?
https://www.jpmorgan.com/mdapi/08BSI..._MD_intro.html

http://www.admd.com/

https://www.intlfcstone.com/

http://vcapfx.com/

http://www.tradestation.com/products...forex-services

http://www.gaingtx.com/overview.shtml
Quoting PoundTrader
{quote}http://vcapfx.com/
This site doesnt appear to have been updated since years. LavaFX doesnt exist anymore since 2010.
Quoting shrike
{quote} This site doesnt appear to have been updated since years. LavaFX doesnt exist anymore since 2010.
They are a IB, if you wanna go direct try the other brokers
Quote
A true ECN is where you can trade and face the brokers clients on your platform in other words an exchange.

Yep, thats correct, you should be able to see clients and brokers offers like so...
Attached Image
Quoting mickeym
{quote} Yep, thats correct, you should be able to see clients and brokers offers like so... {image}
outside of LMAX, where is all the big name banks in that level 2 unless lmax and dukas covers all that
Quoting PoundTrader
{quote}outside of LMAX, where is all the big name banks in that level 2 unless lmax and dukas covers all that

I would think LMAX,fxcm,IB,dukascopy have big bank names pricing.

If the same big banks are pricing all four then there will be rejects or complaints from the price makers for double hitting .

Where as a TRUE Ecn doesn't have this set up ..
So where are the mythical "true ecns" you talk about. All the big names quote on EBS and Reuters and so on too, i suppose they arent true ecns eithter, by your definition.
Honestly i don't think so, if its a ECN its a ECN it can't be a market maker.
  • Post #16
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  • Last Post: Nov 23, 2014 5:47pm Nov 23, 2014 5:47pm
Quoting shrike
So where are the mythical "true ecns" you talk about. All the big names quote on EBS and Reuters and so on too, i suppose they arent true ecns eithter, by your definition.
EBS is a classic case in point .. they have two platforms.

1.EBS markets - a true ECN whereby all clients face each other .

2.EBS direct - where liquidity providers face one client and that's there MM platform.
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