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Solution to be used for Customers of Spider IRIS Software
Symphony Fintech, a provider of Automated Trading Systems, today announced collaboration with Spider Software. Symphony & Spider will jointly develop an interface Spider’s IRIS software with Symphony’s Presto OMS. This combined offering will enable Power Traders to develop, test and deploy their Technical Indicator based algos seamlessly.
Addresses a common problem that Power Traders face
This combined offering addresses a common problem that power traders face in India to automate their algos. Spider’s IRIS can be used to develop ‘Trading Strategies‘ based on Technical Analysis/Event analysis. Using Presto, one can back-test the strategies after they are developed and paper-trade the strategies and then, deploy the strategies ‘live’ at participating brokers.
Value-add service for many clients
“Symphony Fintech’s turnkey solution allows Spider to offer value-added services to its clients,” said Ravi Lokhande, Director, Spider Software. “Symphony’s algo platform will be integrated into our front-end – a single platform for multiple exchanges: BSE & NSE (Cash & F&O), MCX”.
Spider Software Pvt Ltd is a pioneer in developing Real Time and End of Day technical analysis software for stock market traders in India. Since its inception in the year 2000, Spider Software Pvt Ltd has continuously developed unique and exceedingly effective and superior software being used by more than 5000 users all over in India.
Symphony, since her inception, has a huge following and brand recall among the Indian Trading Community. Infact, it will be rare to find an Indian Capital Market Trader who is not aware of Algorithmic Trading emergence and hence, would be aware of our flagship Algo Trading System, Presto ATS. Still, it was quite a surprise by being recognised as one of the top 20 finalists by ET NOW Leaders of Tomorrow 2013.
As a token of appreciation to your support & a grand farewell to 2013, we have worked out a special prices for this month. Visit http://www.symphonyfintech.com/contactus.html for further details & click here for our special limited pricing
IndiaMART Leaders of Tomorrow Awards aims at celebrating the success stories and honor entrepreneurs who have transformed stumbling blocks into stepping stones driven by their passion, determination and undying spirit of entrepreneurship. The Awards, in association with ET NOW Business News Channel, has had three successful editions in 2010, 2011 & 2012 and will have its 4th edition this year in 2013. Our process partners, Nielsen in 2010 and E&Y in 2011, 2012 & 2013, ensure complete process compliance and veracity of the data received from nominee MSMEs. The Awards this year will feature 14 categories under which the SMEs will be recognized for their outstanding performance along with 3 special recognition awards selected by Jury. There were 1,00,000 nominees this year.
Since the advent of Automated Trading in India, we have seen an unprecedented increase in volume at all exchanges. Market leaders of Indian Capital Market have adopted this new phase in the industry with open hands. But how successful has been this transition from Manual Trading systems to Automated Trading and what all are the different scenarios being faced by market players. This article gives a brief glance at the Indian Buy/Sell-Side perspective of Automated Trading.
Guptaji has just had his dinner when he receives a call from the owner of a big broking firm. The talks are about how the server has to be upgraded at the exchange co-location. Previous up-gradation was just a month back involving massive order size running into 100,000 Dollars. But Guptaji is not surprised. This has been a trend for the last one year. This broker, like most Tier 1 brokers in India does High Frequency Trading (HFT). Latency is supposed to be between 100-300 Micro seconds to get the best deal. So, you need to have the best co-location and most powerful servers.
In US nearly 60-70 % volume is generated by HFT and in India it is widely speculated to be around 25-30 %. Due to this surge, many foreign ATS vendors are entering Indian Market. Some of the well known vendors providing platforms for HFT in India are Omnesys, Apama,
RTS etc. and many like Horizon, Orc, SimCorp, Linedata contemplating.
However, not all Automated Trades in India are HFT. Another breed of Broker is adopting a different path altogether.
Non-High Frequency Trading:
Most non-HFT algorithmic strategies aim at minimizing the market impact of (large) orders. They slice the order into several smaller child orders and spread these child orders out across time (and/or venues) according to a pre-set benchmark. (Peter Gomber et al,
2011). These strategies also include complete automation of technical analysis based strategies.
For e.g. A broker trading with a strategy developed over AmiBroker or similar tools can connect it to Third party Algo Trading System and automate the whole process.
Many brokers are already using different well known products like Apama, FlexiTrade, Sungard, Symphony-Presto, RTS etc. and approaching exchanges to get their respective strategies approved. This brings us to the grievances of Buy/Sell-Side regarding Automated Trading in India.
Also, for brokers offering Algo Trading to Sub-brokers please go through this quite informative thread started in a forum called Traderji where traders of India discuss day to day life etc. ClickHere
Issues faced by Sell-Side/Buy-Side:
Bells of the flash crash on 6 May 2010 in the US were heard in India as well. Securities and Exchange Board of India (SEBI), central regulatory body, decided it is better to bell the cat. If that was scary for SEBI then case of ‘faulty algorithm’ which caused unusually large trades on BSE during its Muhurat trading session a few months ago would have given them a heartache.
These are some of the reasons why SEBI is so apprehensive regarding Algo Trading and was very close in banning Algo trading altogether. Some of the regulations (there are quite a few but let’s just discuss the main pain points) that Indian Buy/Sell-side has to follow are:
a. 200,000 Rs should be paid to respective exchange for Algo Trading Permission under in-
b. Every Algo Strategy has to be shown for approval to exchange with all the Risk Management
c. This whole approval process takes around 3-4 weeks.
d. If during trading any error occurs penalty is absurdly high.
e. The regulation keep on changing, recent was the FMC one.
Most brokers disapprove of these regulations since it slows the deployment of new algorithms and also involves revealing trade secrets. So, if we go through all the time and money involved in Algo Trading, Indian Brokers are doing a fabulous job in adopting this technology.
Another side of sell-side firms came up recently during Trade Tech 2012 Mumbai. A large broker offering Automated Trading emphasised on the need for more regulations with regards to Risk management System. This unprecedented comment where a regulated body is asking for more regulations shows that even Indian Broker community has not yet found Automated Trading completely safe.
Still, Automated Trading Market in India is looking quite encouraging and even after so many hindrances, we are quite sure that it will flourish at an incredible rate.
Prop Desks of India looking for profitable Algo strategies can select any one of them while signing the contract with Symphony. All these strategies are approved by exchanges and are developed with the help of some of the most famous Stock Gurus of India:
– Presto-SmartTrading: A profitable market making strategy
– Presto-SmartJobbing: Profitable completely automated jobbing logic
– Presto-AB-Crossover: A very profitable AmiBroker based strategy with customized execution logic
– Presto-Xover: Select your oscillators and customize entry/exit, Bracket Orders, Slicing, Trailing SL etc.
– Presto- Opportunity Target Completion Strategy