Indian Brokers offering Algo Trading to clients

Algo

Active Member
#1
I have been doing fully automated trading for the last one year and have used all the vendors and three different brokers. I have accumulated a list of brokers offering Algo Trading capabilities and vendors they are associated with:
1. ShareKhan- Symphony (www.sharekhan.com)
2. Zerodha- Omnesys (http://www.zerodha.com/)
3. Mastertrust- Omnesys (http://mastertrust.co.in)
4. Phillip Capital- Symphony (http://www.phillipcapital.in/)
5. Destimoney Securities - Symphony (www.destimoney.com)
6. Composite Edge - Symphony (www.compositedge.com)
7. GRD Securities - Symphony (www.grdgroupz.com)
8. Sykes & Ray Equities- Symphony (www.sre.co.in)

All the brokers are having their own target market and both the vedors have their own capabilities:
1. Omnesys plugin/NEST- BENEFITS: It is a great software and beats symphony in the number of installations. It is very cheap (however if you include the total charges in a year's cycle, icluding data feed charges, hardware charges, brokerage etc. it comes near to symphony itself).

Some drawbacks include, custom strategy development will not be done by Omnesys itself but by other free lancers which reslut in lots of errors and headache. Also, Omnesys Plugin only sends the orders directly to exchange. With a trader like me who extracts maximum profits out of triggers generated from AmiBroker by custom bracket orders, trailing stop loss profit booking etc. it is not advisable because they cannot provide it.

2. Symphony- BENEFITS They have another great software presto which is customizable to the T. They seem to be winning the war of signing up with most retail brokers from omnesys and their development team develops the logic themselves. They also have complete open APIs if a trader is a programmer himself:)confused:). They can connect their algo platform with TradeStation, AmiBroker, MS Excel, MetaTrader etc with custom execution logic. Also, one thing, They can automatically send orders to multiple client accounts.
DRAWBACKS They seem to be expensive to some traders in first look, however, the custom offerings they offer and guidance given including paperwork, connection to broker, live feed from exchange via leaseline/vsat only they can do so. Another drawback is the development time they take. They take one month for developing any strategy which i believe is the biggest headache. Also, except composite edge, their other partner brokers like sharekhan or GRD has attitude issues and quite expensive.

SUMMARY:
If you are a small trader doing turnover between 2lac to 50 lac daily you should go ahead and immediately signup with Zerodha or mastertrust (You anyways will not have an execution logic to run with AmiBroker triggers)

If you a trader with turnover more than 50 lac per day and want custom Stoploss, Profit Target, trading in multiple client accounts etc., immediately sign up with symphony.

So let me know if i can claim myself to be an expert in automated trading of India. Personally i am passionate about auto trading and want to become superstar like other people in Traderji with more than 20 greenblocks or whatever that is. (Reposting in a new thread)
 

mastermind007

Well-Known Member
#2
I have studied system of both Omnesys and Symphony and agree with your analysis and I am programmer with 10+ years of experience. I visited offices of both the companies and Symphony as a company was lot more friendlier to deal with and while they did not share anything substantial for free, they did not mislead. Omnesys staff on other hand actually lied to me in person, which I was able to verify next day itself and from the same person.

Fortunately for me, I was able to obtain a realtime data feed from my broker so I've actually ended up developing my own system in .NET
and I am in final phases of testing it ... Best speed that I've clocked in automated trading speed of 66 nano seconds

In the most healthy sense possible, I'd like to compete with you for the "claim myself to be an expert in automated trading of India" ....
 
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Algo

Active Member
#3
Hello Sir,
Arbitrage is dead for traders if not sitting in co-location, however, i would recommend Omnesys for latency based arbitrage, and multi exchange/segment i would recommend symphony. But without co-location or lease line you will earn nothing let me assure you, if doing latency based arbitrage.
 
#4
We are working on some Algo projects and for this very reason we are in touch with Omnisystem/Symphony/GDFL etc companies related to this.

If everything goes smooth, we will gift something to my Traderji friends free of cost, most probably by May 2013 with a reasonable rate of Unlimited trading Brokerage Plan.

If somebody has some unique idea, may pm me. We are hiring some experts of this field.

regards
 

mastermind007

Well-Known Member
#5
Algo

Does anyone here know how ODIN obtains its feed and how it can be legitimately tapped. Currently, I get feed from different source and have some freeware that gets ODIN feed into Amibroker via some variant of on-machine DDE but are there any other alternatives.
 
#6
Hi All the Experts in this Thread!

I am confused. I am dealing with a broker mentioned in the list above for auto and they have only started in their ads. The info is not correct. Just one or two brokers may have FULL auto.

I am desperately searching for either (i) real time data feed at 1 sec interval for all symbols and which can be read by Excel; or (ii) APIs which can take data from NEST to deliver into XL and redeliver as orders into NEST.

Can anyone throw some light? It seems real time data is not available in XL or other languages.
 
#7
I am doing trading with zerodha nest plus and gdfl package. I fell nest people's support is very bad they dont even know what to do with amibroker plugin.
I got the plugin from gfdl but their afl system is not good, so i have tested and modified some afl's which r working fine with nest plus. If any body have some good afl system can share
 

Algo

Active Member
#8
Hello Sir,
there is a catch in the statement made by me. You have to be a sub-broker/authorised person with the broker for completely auto trading. I have opened a Power Broker account with sharekhan and completed authorised person procedures that is why i am doing fully auto trading. And please do not blame me because our regulatory bodies does not allow retail to do algo trading. This is the only way at present in India.

Hi All the Experts in this Thread!

I am confused. I am dealing with a broker mentioned in the list above for auto and they have only started in their ads. The info is not correct. Just one or two brokers may have FULL auto.

I am desperately searching for either (i) real time data feed at 1 sec interval for all symbols and which can be read by Excel; or (ii) APIs which can take data from NEST to deliver into XL and redeliver as orders into NEST.

Can anyone throw some light? It seems real time data is not available in XL or other languages.
 
#10
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