Automated trading - futures

Hi All,

Does Automated trading system available in India for NSE futurs trading. We place order on a given price(buy/sell), if i have to place 25 orders based on a price how can i do this with a normal broker, if any one have come accross with automated trading brokers pl. share the details

thanks

Man Financials where planning in the past,but Exchange was thinking on that Line but yet not allowed it.

uasish,

thanks for reply, then how come lakhs of trades done between 9.55 to 9.60 am.

i guess automated trades are there for FIIs....... Because many of the brokers is not having Cancel All pending orders, good until, never expire....... these are some examples......... i guess those are only for FIIs...........

You are implying that NSE has some secret rules for them only.

Have you ever seen a Big Broker House's Proprietory Trading dealing room Dealers.

Not very sure , but have been told that it is possible to enter multiple orders though a software in Neat or Odin or both!!!
Its not for FII or FI alone!!!
A broker prepares a CD for desired orders and activates it at 9.55 and all orders are placed without manually feeding them one by one!!!
No idea how long it takes for these orders to be entered, a few seconds or a few minutes!!!

Program Trading in India is definitely allowed and is very often done by small and large companies who can afford to hire programmers. ODIN/NEAT have a way of accessing data and routing orders as a bunch of keystrokes.

Till sometime back there was a rule which said "final OK" has to be done by a human being, so many prop trading desks hired bunch of dumbos to just press enter. I think this rule too might have changed now.

It's different from Automated Trading in the manner that ODIN can accept the orders only when the file has already been prepared before market hours
while an automated trading platforms can execute transactions anytime during market hours. DMA access is currently restricted to the institutions only.

Not secret but open Rules. Direct Market Access (DMA) facility is not available to retail traders while the same is availble to Institutions.

What is the difference between DMA and NEAT terminal? Isn't order entering and execution on NEAT terminal same as DMA?

Till recently even this facility was not there for FII and institutions. They had to call their brokers and execute the orders (at least legally speaking) after DMA facility was allowed their brokers can now provide live terminals to FIIs and institutions and they can put in electronic orders as well. At least this is my understanding.

If one can develop a program to access real-time data from market, have a solid buy-sell signal generation algorithm and a software for keying in the orders, I cannot see why automated trading won't be possible for retail trader. Of course usually access to above three requirements, risk management department and sufficient capital is only available to institutions.

DMA is allowed in India ONLY to Institutional Investors. Check the following DMA announcements:
http://money.aol.com/news/articles/qp/pr/_a/bnp-paribas-executed-first-full-dma/rfid121823828
http://www.a-teamgroup.com/article/morgan-stanley-executes-first-dma-trades-in-india/
http://taureanblogger.blogspot.com/
http://economictimes.indiatimes.com...akeoff_of_DMA_trading/articleshow/3473344.cms
http://www.livemint.com/2008/04/03235843/Institutions-now-get-direct-ma.html
http://www.livemint.com/2008/03/03232641/Let8217s-get-moving-with-al.html