Execution API Enhancement Suggestion

[aspTrader]

I was told yesterday by an IB broker of Man Financial that the use of
the RanOrder API for order execution would not entail the per
transaction costs that the use of the Pats API does.

I don't know much about the RanOrder API. It appears that RanOrder
is a client order entry front end. But it also appears to be an
order execution API. So, it appears to me at this point that it much
resembles what Pats is doing.

When I told the broker about our use of the NeoTicker/Ninja Trader
combo, the first thing out of his mouth was that we ought to think
about a Ninja Trader competitor's product to avoid the per side
transaction fee. Of course, that's not interesting to us.

But it is of interest that there is a competitor to the Pats API that
would involve significantly less cost when doing volume over a month.

So, I'm wondering what you folks think about the robustness of the
RANOrder API and where the possibility of providing support for it
might fall. I see that a Europe-based NeoTicker/Ninja Tradercompetitor cut
some kind of deal with the RanOrder folks in mid-February. Maybe
Ninja Trader could do the same?

Thanks.

[NinjaTrader_Ray]

imported post

Thanks for the suggestion. Will add to list of potential API's that we will support. I am not sure about any additional charge to use NT through the Patsystems infrastructure. I know Patsystems charges a transaction fee to their clearing firm customers but this should be outside of NT. This fee is for transacting through Pats even through their own J-Trader platform. This is my understanding from our clearing firm and broker partners.

[aspTrader]

imported post

My understanding is the same as yours that the fees I was referring to are the standard Pats fees. What I think is going on is that the RanOrder folks are working to compete with Pats by NOT charging IBs and their customers the per side transaction fees.

And, of course, this impacts Ninja Trader. My bet is that a few calls around would reveal that our experience on this point holds for others as well.

We're using Ninja Trader because we're using NeoTicker and Ninja Trader is the only multi-broker execution platform supported by NeoTicker just now.

My understanding is that direct support for Pats is a "high priority" for NeoTicker. And we'll need to take a look at that if/when it is available because then we'd avoidthe file-based automation approach of Ninja Trader.

But if Ninja Trader supported the RanOrder API and if there were no per transaction costs in it's use, that would weigh significantly on our minds.

But we're new users of Ninja Trader and excited about using it.