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Data feeds and execution - CQG, Rithmic, Tradovate (and more?)


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Data feeds and execution - CQG, Rithmic, Tradovate (and more?)

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  #11 (permalink)
Los Angeles, CA
 
Experience: Advanced
 
Posts: 39 since Nov 2019
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ales19 View Post
Hello, this is my first post here (excluding intro) so hopefully I will not mess up too badly and break too many rules
I have searched the forums and read the threads on the topic I am going to ask about but the info I found was not sufficient for me to get a clear understanding, so here it goes:

I am basically trying to determine the best data feed to use when I go back to trading live and I am trying to get my head around the different facets I need to consider to select the best solution for me. To give context I am focused on scalping and have no automation/algo involved (except an automated stop loss and take profit order entered by my trading platform upon execution). I use Jigsaw Daytradr.

So far I am considering the following 3 data feed providers (CQG, Rithmic, Tradovate) and this is what I found out about them so far:

CQG: solid all-round solution with cheap round-turn fees of $0.20, shows 10 price levels and 1 month of historic tick data, can suffer lags/freezes when market spikes occur, like after a Trump tweet or news event
Rithmic: highly reliable but "expensive" solution at $0.50 round-turn fees, shows entire order book (20+ price levels) but only 1 day of historic tick data, performs great even under high data flows due to news events.
Tradovate: cheapest solution if monthly $199 flat fee adopted (only exchange, clearing and routing fees owed), shows 10 price levels and 2 weeks of historic tick data (as far as I can tell), reliability in high data flows due to news events is unknown

So, from a price point of view Tradovate seems to be the best, however I do not know how they hold up as far as reliability goes.
I know there are other providers like TT, CTS, IQ but they all seemed more expensive without offering any advantage from what I could tell.

Also, I am unclear how execution is affected by the choice of data feed provider?

Any help sorting this out (and correcting any mistakes I made above) would be greatly appreciated.



This is a great post. Thank you for such an articulate and well laid out question with good prompts. I look forward to reading the responses.

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May 23, 2020


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