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  • #21
  • Jan 19, 2008 4:20pm Jan 19, 2008 4:20pm
Everything has a 'market maker' - Currenex and other ECNs have 'market makers' - they're the banks that brokers pass your orders to.

Someone has to 'make' the market you trade on - in equities, the ASX, LSE or NYSE is the 'market maker' and you trade through a broker. Bucketshops - the brokers - are the market makers and are not transparent. With ECNs you have another tier before you get to the market maker, therefore the broker is transparent as they cannot manipulate the market like a bucketshop can.
  • #22
  • Jan 20, 2008 8:36am Jan 20, 2008 8:36am
Quoting tayser
Everything has a 'market maker' - Currenex and other ECNs have 'market makers' - they're the banks that brokers pass your orders to.

Someone has to 'make' the market you trade on - in equities, the ASX, LSE or NYSE is the 'market maker' and you trade through a broker. Bucketshops - the brokers - are the market makers and are not transparent. With ECNs you have another tier before you get to the market maker, therefore the broker is transparent as they cannot manipulate the market like a bucketshop can.
You need to read up a little more and get your details right. The NYSE, LSE and ASX are exchanges. A "market maker" is a broker-dealer firm that accepts the risk of holding a certain number of shares of a particular security in order to facilitate trading in that security which is traded on the exchange. Big difference!

If Viking Trader is a MM, my busines is with just them, not the banks. If they are modeling their business based on the currenex model, then the prices we get come via the "interbank market" which is the closest thing you can get to a central exchange in the FX market.
  • #23
  • Jan 20, 2008 2:44pm Jan 20, 2008 2:44pm
Quoting Fireblade
3 pips spread for EUR/USD? lol
Not sure how you missed it, but before you start laughing out loud maybe you should actually read the post. The precise post where the screenshots were captured said, "We are beta testing this platform for functionality only so please do not take note of the spreads, which of course will be institutional on live accounts."

  • #24
  • Jan 20, 2008 4:22pm Jan 20, 2008 4:22pm
Quoting bugscoe
You need to read up a little more and get your details right. The NYSE, LSE and ASX are exchanges. A "market maker" is a broker-dealer firm that accepts the risk of holding a certain number of shares of a particular security in order to facilitate trading in that security which is traded on the exchange. Big difference!

If Viking Trader is a MM, my busines is with just them, not the banks. If they are modeling their business based on the currenex model, then the prices we get come via the "interbank market" which is the closest thing you can get to a central exchange in the FX market.
No I don't need to 'read up' a little more because I'm talking in a broader sense: Think at a higher level, every market needs to be made somewhere - the exchanges make markets by creating a place where shares can be exchanged, banks create the interbank foreign exchange market by allowing other banks and traders to swap currencies for one another and bucketshop FX 'market makers' make separate markets from the real interbank FX market internally.
  • #25
  • Jan 20, 2008 10:01pm Jan 20, 2008 10:01pm
This Viking Platform sounds great Please put me on your list BostonForex

I have looked all over the website for "Viking" trading platform without any success how is it you have found it or are you for them etc.

my e-mail address [email protected]


Bhudasa
  • #26
  • Jan 20, 2008 10:04pm Jan 20, 2008 10:04pm
This This Viking Platform sounds great Please put me on your list BostonForex

I have looked all over the website for "Viking" trading platform without any success how is it you have found it or are you for them etc.

my e-mail address [email protected]


Bhudasa
http://www.forexfactory.com/images/misc/progress.gif http://www.forexfactory.com/images/buttons/edit.gifsounds great Please put me on your list BostonForex

I have looked all over the website for "Viking" trading platform without any success how is it you have found it or are you testing it for them etc.

my e-mail address [email protected]


Bhudasa
http://www.forexfactory.com/images/misc/progress.gif http://www.forexfactory.com/images/buttons/edit.gif
  • #27
  • Jan 21, 2008 9:42am Jan 21, 2008 9:42am
Quoting tayser
No I don't need to 'read up' a little more because I'm talking in a broader sense: Think at a higher level, every market needs to be made somewhere - the exchanges make markets by creating a place where shares can be exchanged, banks create the interbank foreign exchange market by allowing other banks and traders to swap currencies for one another and bucketshop FX 'market makers' make separate markets from the real interbank FX market internally.
And I'm sure in a "broader sense" you and I are also related if we go back far enough. But we aren't sharing any meals together at any family get togethers.

If the interbank market is where the banks and other traders swap currencies, who are you swaping currencies with at a market maker?

Correct, the market maker.

I'm not sure what point you're trying to make but mine is there is a huge difference in doing bizz with a MM rather than having direct access to other traders via an exchange or the interbank market.
  • #28
  • Jan 21, 2008 2:39pm Jan 21, 2008 2:39pm
^
Quoting BostonForex
The market maker will be using an algorithm that aggregates the smaller volume trades and hedges the net position at various price points.
"The banks will be using an algorithm that aggregates the smaller volume trades and hedges the net position at various price points"

I was referring to BostonForex's usage of the words market maker - the market maker in a currenex setup are the banks that provide liquidity - not like the brokers are in a bucketshop setup.

And perhaps it would be good if BostonForex could clarify his usage of language - otherwise we will be dealing with a bucketshop.
  • #29
  • Jan 21, 2008 3:57pm Jan 21, 2008 3:57pm
Quoting tayser
^

"The banks will be using an algorithm that aggregates the smaller volume trades and hedges the net position at various price points"

I was referring to BostonForex's usage of the words market maker - the market maker in a currenex setup are the banks that provide liquidity - not like the brokers are in a bucketshop setup.

And perhaps it would be good if BostonForex could clarify his usage of language - otherwise we will be dealing with a bucketshop.
This is exactly what my post should have read.

Like Tayser has said, market makers with Currenex setups use banks that provide liquidity, and that's exactly how Viking trader will work.
  • #30
  • Jan 21, 2008 9:18pm Jan 21, 2008 9:18pm
Thanks for clarifying.
  • #31
  • Jan 22, 2008 10:56am Jan 22, 2008 10:56am
Looks interesting - cant see market depth in the screenshots?
  • #32
  • Jan 23, 2008 9:02am Jan 23, 2008 9:02am
Another question: is the platform Java-based?

I don't hope so.
ForexFactory SUCKS.
  • #33
  • Jan 23, 2008 11:29am Jan 23, 2008 11:29am
BostonForex, any progress on the release of the demo?

Just askin'.
  • #34
  • Jan 23, 2008 1:42pm Jan 23, 2008 1:42pm
I have been running a beta version of this platform, learning the ins and outs.

I have also put together quite a long list of members here who are interested in Viking Trader and will be sending out demo accounts some time next Friday.

I will also disclose which prime broker will be offering Viking Trader; I think you will all be pleased to hear that it is a very reputable shop.
  • #35
  • Jan 23, 2008 1:44pm Jan 23, 2008 1:44pm
Excellent!

Thank you, sir.
  • #36
  • Jan 23, 2008 2:52pm Jan 23, 2008 2:52pm
Boston,

Looking forward to trialing, any closer in knowing when live will be available.

Thanks
  • #37
  • Jan 23, 2008 11:01pm Jan 23, 2008 11:01pm
I'm also very interested in trying out the demo account, as well as which prime broker that will offer it. I really think that being able to see market depth would facilitate trading.For instance being able to know where banks might stop hunt(I'm not too knowledgeable in this area, so I might be wrong).

My email is [email protected]
  • #38
  • Jan 25, 2008 6:10pm Jan 25, 2008 6:10pm
Quoting BostonForex
I have also put together quite a long list of members here who are interested in Viking Trader and will be sending out demo accounts some time next Friday.
Hey Boston, is going to be today the big develation? Looking forward to your mail.
Ado Whether you believe you can do a thing or not, you are right.
  • #39
  • Jan 27, 2008 1:53pm Jan 27, 2008 1:53pm
Has there been a delay in the release time,if so when can we expect the trial demo A/C.

Thanks
  • #40
  • Jan 27, 2008 2:40pm Jan 27, 2008 2:40pm
Quoting oztrader
Has there been a delay in the release time,if so when can we expect the trial demo A/C.

Thanks
BostonFX said next Friday (Feb. 1, 2008).
"Even the word impossible says that I M possible"
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