Discount Broker Comparison

[bpr]

front end could have some open positions which will affect the money available. They could maybe sync and have a column for "money that can be withdrawn" or something like that.

already most broker shows 2 types withdrawlble balance which deducts any unsettle amount and full balance .
All they have to do is calculate it in realtime instead of eod.

 

[Tejas Khoday]

I never understood why back end is not synced with front end that to in this day and age...
it is as if we are still in the 90s tech wise

I do agree but there is a host of factors which have led to this situation. In short, the evolution of service providers is fragmented and a holistic solution is not available in the market for various reasons.

 

[Tejas Khoday]

front end could have some open positions which will affect the money available. They could maybe sync and have a column for "money that can be withdrawn" or something like that.

Yes, the real-time sync between the trading platform and back office is not possible currently. The exchange has to provide trade data and the processes must be complete before payouts can be made.

 

[pannet1]

Yes, the real-time sync between the trading platform and back office is not possible currently. The exchange has to provide trade data and the processes must be complete before payouts can be made.

basically if they want, they can do. brokers have their RMS for controlling their Risk. There seems to be some advantage in keeping clients money with themselves. If there is no open trades (overnight positions), why should they wait for the exchange to confirm it once again. Imagine broker having single margin account (for both MCX and NSE)

 

[Tejas Khoday]

basically if they want, they can do. brokers have their RMS for controlling their Risk. There seems to be some advantage in keeping clients money with themselves. If there is no open trades (overnight positions), why should they wait for the exchange to confirm it once again. Imagine broker having single margin account (for both MCX and NSE)

Hey @pannet1,

1. There is no financial advantage if payouts are processed a few hours later.
2. Keeping funds until EOD is part of risk management. Everything works based on trade confirmation files. Basically, its data given by the exchange and it includes all the charges and whatnot.
3. W.r.t to the single ledger - If the exchange provides more clarity, then we can definitely implement it. The thing is, they have not given us clarity on how to handle the utilization of funds, settlements, and penalties imposed if trading happens before securities are realized after selling of stocks, cross-utilization of funds across exchanges etc. etc.

 

[bpr]

I do agree but there is a host of factors which have led to this situation. In short, the evolution of service providers is fragmented and a holistic solution is not available in the market for various reasons.

Its all excuses. The only reason is NSE monopoly.
Exborient data prices and old technology.
Govt needs to step in and divide NSE

 

[Tejas Khoday]

Its all excuses. The only reason is NSE monopoly.
Exborient data prices and old technology.
Govt needs to step in and divide NSE

Yes, NSE is a monopoly but that's not the only reason there is no integration between front & back-end.

 

[Newbie Day-Trader]

Its all excuses. The only reason is NSE monopoly.
Exborient data prices and old technology.
Govt needs to step in and divide NSE

Fragmentation of volumes. Any competitor must emerge naturally because market/customers are willing to support it; government can't create competition, if the market doesn't want it then you will eventually see consolidation of volumes on any one of the broken arms of the NSE, & you'll be back to square one but in the meantime, traders & related parties might suffer.

 

[pannet1]

want more trade from metatrader brokers please

 

[bpr]

I am seeing phantom entries in IB Times and Sell window.
E,g if the current price is 100. T&S keeps printing 103/104 .
Also some time I see negative value in their
I know they are agrreagted feed. but still it does not explain.
Anybody has any idea let me know.