FX Market Watch
has multiple variables involved: •
• • • • •
Logic of EA Code of EA
Broker settings Broker liquidity Broker policy Hardwar e
environment of trader/broker •
environment of trader/broker •
environment of trader/broker •
element
Any technical support of an EA must
the variables. R&D According
much different.
Brokers typically purchase existing solutions by vendors for most of their business operations; they have high payments of salaries, and little or no technical development. There may be exceptions but because of the large demand of retail Forex, the trend is to invest in marketing & sales.
76 FX TRADER MAGAZINE January - March 2012 include all of
One solution may be a set of FIX style standards for the retail Forex industry
to
publicly available financials, the R&D budget of FXCM is zeroi
. Other brokers are not likely brokerages, and in the FIX communityii
traders alike, . Many
brokerages are well run but operate on a completely different system than another. Brokers have spent millions
each developing their
own proprietary systems, instead of the FIX community solution. Over complicating matters, 3rd
brokers
party software vendors sell individual components
of their systems, such as a client back office, or an MT4 bridge.
S o f t w a r e N e t w o r k H u m a n Standardization
There is a need for standardization in the global industry.
FIX is a
good example of a set of standards developed by a collective of banks,
Since brokers may not have a
structural ‘global’ system design, many of these components do not integrate well and can even cause large problems. One solution may be a set of FIX style standards for the
retail industry.
Forex With
the recent passage of Dodd-Frank, at least the NFA provides standards for regulation, however it does not include technical standards; they only require ‘compliance’ to the rules which can take many
forms.
It’s laudable to give brokers freedom to run their businesses as
they
choose, but it also creates unnecessary problems.
Whoever takes the lead in a standardizations effort in the growing retail Forex industry stands to seize the greatest control over
an exponentially market. Elite E Services i ii
http://finance.yahoo.com/ http://www.fixprotocol.org/
increasing
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97