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LMAX = revolution?!?

  • #1,621
  • Dec 30, 2012 10:38am Dec 30, 2012 10:38am
Quoting Ultimate6
Maybe they have then. Either way, their liquidity is enough to create their spreads and I have not had partial fills, until then I won't complain.

What size are you typically trading ?
  • #1,622
  • Dec 30, 2012 10:39am Dec 30, 2012 10:39am
Quoting Forexeurusd
What size are you typically trading ?
50 - 100 contracts
  • #1,623
  • Dec 30, 2012 11:25am Dec 30, 2012 11:25am
Apparently they are planning some sort of interdealer trading platform, in addition to what they have now. RaboBank will be acting as CCP for that, and it seems they will target manual institutional traders, since high frequency trading is not allowed there. Guessing they try to capitalize on the mess EBS/Icap created in the last year. It will be difficult to get a piece of that cake in my opinion, even with EBS screwing their most important clients, and Reuters having a some sort of mini HFT-scandal of their own. But worth a try i guess, they already have all the necessary technology and infrastructure.

They have adjusted the rulebook on the LMax MTF website accordingly.
  • #1,624
  • Dec 30, 2012 11:28am Dec 30, 2012 11:28am
Quoting shrike
Apparently they are planning some sort of interdealer trading platform, in addition to what they have now. RaboBank will be acting as CCP for that, and it seems they will target manual institutional traders, since high frequency trading is not allowed there. Guessing they try to capitalize on the mess EBS/Icap created in the last year. It will be difficult to get a piece of that cake in my opinion, even with EBS screwing their most important clients, and Reuters having a some sort of mini HFT-scandal of their own. But worth a try i guess, they...
Sorry what is the story regarding HFT and what is their definition of it? Do you have a link please?
  • #1,625
  • Dec 30, 2012 11:30am Dec 30, 2012 11:30am
Quoting Ultimate6
Sorry what is the story regarding HFT and what is their definition of it? Do you have a link please?
Found it here http://mtf.lmax.com/membership/document-library
  • #1,626
  • Dec 30, 2012 11:36am Dec 30, 2012 11:36am
Quoting Ultimate6
Found it here http://mtf.lmax.com/membership/document-library
"High -Frequency Trading means trading conducted for the purposes of generating earnings by entering a large number of small-size, small-profit trades using low latency automated trading systems with limited or no human intervention"
  • #1,627
  • Dec 30, 2012 11:38am Dec 30, 2012 11:38am
Quoting Ultimate6
"High -Frequency Trading means trading conducted for the purposes of generating earnings by entering a large number of small-size, small-profit trades using low latency automated trading systems with limited or no human intervention"
Ok. Scare over. This only applies to banks using LMAX Exchange InterBank Service

31 Conditions for using the LMAX Exchange InterBank Service
A Bank Member may:
(a) enter Orders primarily for the purpose of:
(i) offsetting risk in the FX books based on FX trades entered into with its Clients; or
(ii) inter-bank Market Making;
(b) provide DMA access to its Clients, but not if the Client engages in High-Frequency Trading; and
(c) not access the LMAX Exchange InterBank Service for the primary purpose of High-Frequency Trading.
  • #1,628
  • Dec 30, 2012 12:01pm Dec 30, 2012 12:01pm
Yes, it will be completely seperate from the current platform.
  • #1,629
  • Jan 2, 2013 4:15pm Jan 2, 2013 4:15pm
Quoting shrike
Yes, it will be completely seperate from the current platform.
Same banks that will provide liquidity ?
  • #1,630
  • Jan 2, 2013 5:23pm Jan 2, 2013 5:23pm
No idea, i don't think its operational yet or what level of sell-side support they will be able to get.
  • #1,631
  • Jan 16, 2013 2:40am Jan 16, 2013 2:40am
I am considering to open an account with either atc or lmax, from what I see they have similar spreads. Lmax commission is lower, but when looking at their order book/depth I see that many times the first next available price is a little .5 pips lower/higher for gj when there is sometimes only (50 contracts) 500k at the current quote. So if you execute a larger trade or others are in front of you, you will get a different picture about the offered tradeble spreads? I don't know the depth and tradeble size at the current atc quote to be honest.

I am sure things like funding, back office, customer support, execution, delays, withdrawing, etc are all mentioned in this thread. So forgive me for asking again, but I would appreciate current experiences from live lmax traders.

Hope someone can give an objective opinion.


Thanks

Is this something we need to consider:

http://leaprate.com/forex-industry-n...6-million.html
  • #1,632
  • Jan 16, 2013 7:07am Jan 16, 2013 7:07am
Yes, they are now a small company, without the backing of a big corporation. I am not comfortable to have much more than the comensation limit on deposit with them. They said in the press release that they are fully funded for the next three years, but still.

Goldman got more because they had a stake not only in lmax, but in TradeFair (their spreadbetting firm) too. Betfair has sunk a shitton of money into Lmax, north of 50mm according to their investor reports. I think the management made a very nice deal (if they can make it work).

Everything else works as expected. They are extremely reliable. Liquidity is what it is, you can watch the live orderbooks on their website. BTW, you can get better commissions ($20) through an IB.
  • #1,633
  • Jan 16, 2013 7:28am Jan 16, 2013 7:28am
Quoting 666
Dear eToro-Team,


thank you very much for your nice social media marketing campaign. However, look at this: http://www.forexpeacearmy.com/public.../www.etoro.com This really concerns me.

Again, comparing LMAX, a regulated MTF, with a broker regulated by the Cypriot Securities & Exchange Commission, is ridiculous. I stopped trading spot forex back in 2009, switched to futures and now back again to LMAX. Why? I am sure you know the answer.

Have a nice Christmas:-).


Bye, bye, I will simply ignore you in future. Stop spamming...
Agree, the interesting about LMAX is its similarity to Globex and other exchanges.
  • #1,634
  • Jan 17, 2013 4:11am Jan 17, 2013 4:11am
strange company but the Platform they provide is good enough
  • #1,635
  • Jan 25, 2013 10:05am Jan 25, 2013 10:05am
Quoting auto_trader
Agree, the interesting about LMAX is its similarity to Globex and other exchanges.

Yes, that is what makes the special
  • #1,636
  • Jan 29, 2013 9:54am Jan 29, 2013 9:54am
Quoting shrike
Yes, they are now a small company, without the backing of a big corporation. I am not comfortable to have much more than the comensation limit on deposit with them. They said in the press release that they are fully funded for the next three years, but still.

Goldman got more because they had a stake not only in lmax, but in TradeFair (their spreadbetting firm) too. Betfair has sunk a shitton of money into Lmax, north of 50mm according to their investor reports. I think the management made a very nice deal (if they can make it work).

Everything...
I am a bit concern about capital and stuff after what happen to PFG. I dont know what the owners intentions are. So far they offer retail trader close to what PB offering.
  • #1,637
  • Jan 30, 2013 8:17am Jan 30, 2013 8:17am
Hi,

What platform do you use for Lmax for tick chart?
  • #1,638
  • Jan 30, 2013 12:15pm Jan 30, 2013 12:15pm
So far there is only Multicharts and that platform from Fastbrokers, as far as charting goes.
  • #1,639
  • Jan 30, 2013 12:16pm Jan 30, 2013 12:16pm
You could use a tick chart indicator with MT4 if you have their MT4 bridge.
FXGears.com
  • #1,640
  • Jan 31, 2013 8:45am Jan 31, 2013 8:45am
Quoting shrike
So far there is only Multicharts and that platform from Fastbrokers, as far as charting goes.
Do you have to have an account with Fastbrokers?

I dont see any mention of Multichart. Do you have to purchase Multichart?
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