lmaxtrader

[macin]

Hi, I just looked into Lmaxtrader from Betfair and immediately a question to The Geek came to my mind: would we be able to use Geekstoy on Lmaxtrader some time in the future? I dont mind paying a monthly fee for such an upgrade

[macin]

just to make things clear, I meant: http://www.lmaxtrader.co.uk

[The Geek]

No immediate plans.

[macin]

No problem. Although I will be waiting for updates in this case. With backing from Goldman Sachs, JPMorgan Chase and Optiver this might be a huge thing soon with much bigger customer community than betting
Thanks for reply anyway
All the best

[jimrobo]

does anyone know if anyone has actualy implimented any sort of api access program for lmax?? Or if it is massively different from the betfair api??

[LMAX Community]

Hi guys. I thought you might be interested to know that we’ve currently got people discussing the LMAX API in our Community.

[jimrobo]

it appears there are only 3 threads with people asking the same question as here but with no solution for a dedicated programme that uses the LMAX API.

If there was then it would be a good start but it seems either LMAX don;t want to make their own or it is not commercially viable for a 3rd party company to develop one at this moment in time which means it is a stalemate!

[shadowninja]

As I understand it, Lmax is a standard financial spreadbetting platform; you can't use ladders etc unless you're one of the big boys.

[eggman]

As I understand it, Lmax is a standard financial spreadbetting platform; you can't use ladders etc unless you're one of the big boys.

Lmax has an API. I think the orderBook response gives up to 5 bid/offers. It should be possible to build a ladder with this.

[shadowninja]

It's not a true ladder where you can place bids and offers for other traders to take at market price; only people (institutions) who are willing to submit millions can place bids and offers... as I understand it. So it can look like a ladder all it wants but you cannot trade it like a ladder. I assume you understand what I mean by this; if you're taking market price, then fair enough.

[shadowninja]

I should add that you can already code up stuff via Metatrader if you wanted to run a bot for financial markets. Plus there's Interactive Brokers if you want direct market access. Anyone with a clue about programming (ie not me ) can easily do it.

[jimrobo]

It's not a true ladder where you can place bids and offers for other traders to take at market price; only people (institutions) who are willing to submit millions can place bids and offers... as I understand it. So it can look like a ladder all it wants but you cannot trade it like a ladder. I assume you understand what I mean by this; if you're taking market price, then fair enough.

so does that mean you can only take a price on either side of the book but not put an order up for a specific price??

[eggman]

It's not a true ladder where you can place bids and offers for other traders to take at market price; only people (institutions) who are willing to submit millions can place bids and offers... as I understand it. So it can look like a ladder all it wants but you cannot trade it like a ladder. I assume you understand what I mean by this; if you're taking market price, then fair enough.

So you’re saying you think you can’t place orders within the order book, you just have to take the market price? The api does allow you to place limit orders as far as I’m aware.

[shadowninja]

I don't think you can place an order for another trader to accept. You can place orders such that when the market plus spread reaches that level which puts you in a losing position immediately which is like spreadbetting or trading with a normal broker.

You cannot scalp the spread. I am not sure you can see money at each level like on a Depth of Market ladder.

[shadowninja]

Besides, how would it have any relevance to the real markets? It would have to mirror the DOM if it was to make any sense.

Ah, what I meant to say was that you cannot make a market... or can you? Someone told me only the big boys can make a market on Lmax.