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Direct MessagesDate/Time: Fri, 03 May 2024 08:13:21 +0000
[User Discussion] - LMAX Bid and Ask Size
View Count: 888
| [2020-06-10 16:18:13] |
| User118923 - Posts: 7 |
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The LMAX bid and ask sizes are always 500, 1000, 1500, 2000, etc. This can not be accurate?
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| [2020-06-11 09:42:54] |
| User749205 - Posts: 38 |
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You're seeing their own 'exchange' depth, not the actual depth of the instrument you're charting -which may or may not be available depending on whether you're looking at FX or futures or whatever.
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| [2020-06-12 23:30:46] |
| User513662 - Posts: 90 |
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So are you saying the depth you see on FX instruments through SC is not actually real and accessible (your quote: "You're seeing their own 'exchange' depth, not the actual depth of the instrument you're charting")? I was of the understanding that their order book was a representation of LMAX's available liquidity and their broker unit you are trading through acts as the principal and places the back to back order on your behalf to this displayed liquidity? |
| [2020-06-14 16:33:25] |
| User749205 - Posts: 38 |
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I've honestly no idea, my understanding is similar to yours. My intention was just to inform op, if they weren't already aware, that what they're seeing isn't some centralised exchange, but lmax's representation of their own depth - and I get bad slippage on single contracts, so whether that's even accurate idk. Therefore it may not necessarily be that useful anyway. And is ultimately a question for lmax.
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| [2020-06-14 16:48:33] |
| User118923 - Posts: 7 |
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Thank you both for your feedback. By the sounds of it, better off using CME futures depth, begs the question why LMAX even bother providing this.
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| [2020-06-14 22:59:42] |
| User513662 - Posts: 90 |
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I am 99% sure this is the actual depth LMAX offer. Bear in mind SC x10 this amount in the software. If you login to the LMAX client portal you can see the actual contracts in the order book (divided by 10). I think if you ask other users slippage although occurs, very rarely does depending on size. You can easily be trading 1000-2000 contracts after Europe opens at 0900 Central Europe time (which SC shows, 100-200 for LMAX in their client portal) on the FX majors without too many issues with slippage. Even some of the more common exotics like EURJPY, EURGBP and AUDJPY etc are very liquid similar to the majors. LMAX advertise this as their centralised order book. They are a regulated entity. LMAX and IB are really the only legitimate professional guys in town I know in FX that charge commission and focus on getting you the best execution. I have used them for over a year and have nothing but good experiences. Date Time Of Last Edit: 2020-06-14 23:04:24
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