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2007 Mar 19 - Mon

Be a Price Maker, Not a Price Taker

Benson Shapiro wrote an article at the Harvard Business School called commodity Busters: Be a Price Maker, Not a Price Taker. In the article, he very elegantly writes about the importance of differentiating oneself from the competition. Rather than competing head to head, it is wise to pick a niche and become a monopolist in ones own right.

He provides a series of steps for doing it right:

  • Create customer value
  • Choose your customers
  • Be different
  • keep it simple
  • Determine customer value
  • Deliver on your promise
  • Be courageous

[/Personal/Business] permanent link


Low Latency Data and Trades

SmartQuant was recently purchased by QuantHouse. Quanthouse provides low latency data and is using the SmartQuant framework in their product line.

That is all well and good, but if one has low latency data, one should have good executions as well, particularily if one is performing automated, high frequency trading. So what does one do: find a low latency data source and a separate excellent execution broker, or does one find a provider who can do both? I suppose there are organizations who only need the data side of things, but I'm looking for both data and execution.

I'm currently using IQFeed for data and Interactive Brokers for execution. I think I can do better than that. I'm currently looking at:

  • Genesis Securities: appear strong on equities but weak on futures coverage, and have a QuantDeveloper API
  • RedSky Financial: appear to be be strong on both futures and equities, but I don't think it has a QuantDeveloper API link (I'd have to write one)
  • Photon Trader: strong on futures, and may have a QuantDeveloper API link

[/Trading/AutomatedTrading] permanent link



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Ray Burkholder
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Disclaimer: This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.