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LMAX = revolution?!?

  • #1,381
  • Oct 16, 2012 7:40am Oct 16, 2012 7:40am
For those interested, there is an interview with some folks from the LMAX management in the current issue of the Automated Trader magazine.

LMAX Exchange: Agile Challenge to the Status Quo
I'm not insane; my mother had me tested.
  • #1,382
  • Oct 16, 2012 7:43am Oct 16, 2012 7:43am
Quoting m.m.m.
It's 10K minimum. Their lot (they call it contract) is 10K units of currency.
At least on demo you can enter size of 0.1 of their lot. Does live differ from demo in that respect? Then perhaps minimum is 1 lot, but then increments are 0.1 (like 2.1 etc.)?
  • #1,383
  • Edited 8:25am Oct 16, 2012 7:55am | Edited 8:25am
Quoting retty
At least on demo you can enter size of 0.1 of their lot. Does live differ from demo in that respect? Then perhaps minimum is 1 lot, but then increments are 0.1 (like 2.1 etc.)?
Yea, just forget what I wrote. Sorry
  • #1,384
  • Oct 16, 2012 8:52am Oct 16, 2012 8:52am
Armada Markets one click trading EA

http://www.armadamarkets.com/one-cli...ebb97034ca70e7

P.S.: This forum really needs a Armada thread.
  • #1,385
  • Oct 16, 2012 10:21am Oct 16, 2012 10:21am
Quoting RoBiK
For those interested, there is an interview with some folks from the LMAX management in the current issue of the Automated Trader magazine.

LMAX Exchange: Agile Challenge to the Status Quo
Interesting interview. Unfortunately i dont have a subscription to read the full article.

There are also 2 articles linked on the lmax website in the press-section. To me it sounds alot like they make by far the most business by providing liquidity to other retail/MT4 brokers - and that their prior approach (targeting the retail customer directly) pretty much failed. They say as much in your link too.
  • #1,386
  • Oct 16, 2012 1:37pm Oct 16, 2012 1:37pm
Quoting Demos4x
Armada Markets one click trading EA

http://www.armadamarkets.com/one-cli...ebb97034ca70e7

P.S.: This forum really needs a Armada thread.

Yes and pretty decent one ... one question: should I instantly keep my PC runing in order this EA would move my stops and so on ?
all is eternal - this is good news for people who loves bad news
  • #1,387
  • Oct 17, 2012 2:05am Oct 17, 2012 2:05am
I think LMAX used to have live support on their site. Now it is only email or through telephone. That's odd... Why did they kill it?
  • #1,388
  • Oct 19, 2012 4:06am Oct 19, 2012 4:06am
Quoting RoBiK
For those interested, there is an interview with some folks from the LMAX management in the current issue of the Automated Trader magazine.

LMAX Exchange: Agile Challenge to the Status Quo

Anyone knows the exact date of publication of this article ?
  • #1,389
  • Oct 19, 2012 5:08pm Oct 19, 2012 5:08pm
Quoting retty
I think LMAX used to have live support on their site. Now it is only email or through telephone. That's odd... Why did they kill it?
According to my info their live support at their website is still available.
  • #1,390
  • Oct 20, 2012 3:38am Oct 20, 2012 3:38am
Quoting Forexeurusd
Anyone knows the exact date of publication of this article ?
"First Published in Automated Trader Magazine Issue 27 Q4 2012"

Their magazine is issued quarterly, so that was probably Late Sept / Early October.

It was a very interesting article. As a liquidity provider, they provided some interesting insights of how the market is divided up. Lots of retail trading from Japan, and culturally Asia and Eastern(?) Europe (Russia) have been involved as cash-based societies. LMAX can only grow from here, and it's good that they have the exchange infrastructure in case regulations change in certain countries that may make it some sort of requirement for retail brokers. It helps keep everyone honest, and you can at least get a proportional idea of volume without having to reverse engineer stats like MyFxBook's Community outlook.

Since their matching algorithm mirrors that of an exchange, is it possible to get their actual volume stats for the forex pairs on the mt4 platform? Or can it be access via a separate instrument or level 2 plugin?
Measure trends automatically with zero lag
  • #1,391
  • Oct 20, 2012 7:09am Oct 20, 2012 7:09am
Quoting ybfjax
"First Published in Automated Trader Magazine Issue 27 Q4 2012"

Their magazine is issued quarterly, so that was probably Late Sept / Early October.

It was a very interesting article. As a liquidity provider, they provided some interesting insights of how the market is divided up. Lots of retail trading from Japan, and culturally Asia and Eastern(?) Europe (Russia) have been involved as cash-based societies. LMAX can only grow from here, and it's good that they have the exchange infrastructure in case regulations change in certain countries...
Hello,
Yes they do offer mt4 thorugh PrimeXm bridge
  • #1,392
  • Oct 20, 2012 10:17am Oct 20, 2012 10:17am
Quoting ybfjax
Since their matching algorithm mirrors that of an exchange, is it possible to get their actual volume stats for the forex pairs on the mt4 platform? Or can it be access via a separate instrument or level 2 plugin?
Unfortunately not via MT4, nor via Java/Net api. But since they are regulated as an MTF, they must comply with Mifid post-trade transparancy rules and have to publish any trades carried out on LMax in realtime. They do so via FIX and also on Reuters.

Those 2 options are not very accessible to most retail users. IMO they should atlest publish daily traded volumes on their MTF website, like all exchanges do.

This information would only be interesting to see if their business grows and how they are doing, but not to support any trading-decisions. Accoding to their interviews they match around 20 to 30 billion per month, so average daily volume ~1.5 billion. Still pretty small, but apparently on an upward trajectory.
  • #1,393
  • Edited 8:28am Oct 21, 2012 6:35am | Edited 8:28am
Hey, guys

based on your live experience with LMAX, if you put EUR/USD limit order within the spread (lets say buy limit order 0.1 pip higher then current highest bid price on order book) for a small amount (lets say 10 contracts, or 100K units), if the price does not move, how fast will your order get filled? I want to stress here what this order is filled not because the market moves, but purely because someone in LMAX made a market order to sell. I am interested to know how fast will this order get filled during active trading sessions (London and New York)?

Tried this on demo, with no luck. Seems like on demo, limit orders only get filled when the market itself moves to your limit order. Does not seem like market orders from other LMAX participants play any role in filling your limit orders on demo.
  • #1,394
  • Oct 21, 2012 8:40am Oct 21, 2012 8:40am
Quoting retty
Tried this on demo, with no luck. Seems like on demo, limit orders only get filled when the market itself moves to your limit order. Does not seem like market orders from other LMAX participants play any role in filling your limit orders on demo.
lol, really ? fwiw, it is always like that everywhere....
  • #1,395
  • Oct 21, 2012 4:21pm Oct 21, 2012 4:21pm
Minimum to open with LMax directly is now 250K.

I think its possible that they ditch servicing retail all together - since - according to their interviews - doesn't bring in much business anyways, and carries a large regulatory overhead/cost. That would be really a pitty. It would kill IBs like FxMTF too.
  • #1,396
  • Oct 22, 2012 12:19am Oct 22, 2012 12:19am
Quoting shrike
Minimum to open with LMax directly is now 250K.
Are you talking about a regular forex account? If so I highly doubt this.
Cap
  • #1,397
  • Oct 22, 2012 12:41am Oct 22, 2012 12:41am
What is the minimum account size?

The minimum deposit to your account will depend on the type of account you open. Please see below the different account types:
Classic Account - $10,000 minimum initial deposit, or your base currency equivalent.
Premium Account - $50,000 minimum initial deposit, or your base currency equivalent.
Professional Account - $250,000 minimum initial deposit, or your base currency equivalent.



http://www.lmax.com/private-clients/account-faqs
  • #1,398
  • Oct 22, 2012 1:40am Oct 22, 2012 1:40am
Yes, its still in the FAQ but they deleted the "classic" and "premium" account pages.
  • #1,399
  • Oct 22, 2012 1:50am Oct 22, 2012 1:50am
Quoting shrike
Yes, its still in the FAQ but they deleted the "classic" and "premium" account pages.
Interesting. Did you just notice it from the site, or did you hear from them or elsewhere that they're pulling out of retail?
  • #1,400
  • Oct 22, 2012 2:13am Oct 22, 2012 2:13am
Ok false alarm, according to chat its just a website fubar and they will fix it. Minimum is still 10K.

I just figured it would make sense, with the interviews they gave, and seeing that they are basically in competition with their biggest clients (other MT4 brokers).
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