Any UK Spreadbetting with API access?

[Paul_H]

I know it's a long shot but I'd like to produce an automated spreadbetting program do any of the companies offer such access?

 

[juanbyte]

None that I know of as yet

Why don't you use futures with interactivebrokers?

Spreads are less and they already have API facilities.

 

[jklondon]

this question always comes up now and again! Unfortuantley not - they reason being (given to me by a senior dev at one of the larger outfits a few months ago) is that while there may be an incentive for them in terms of increased volume of trades (hence spreads being paid) there is a huge risk they get totally done over by any automated system since their is an issue of the "quality" of their prices on certain instruments

What you are seeing instead and will continue to see is increase in the functionality they offer e.g contingent orders which CS just introduced and IG have already had for a few months.

However a Market Data API might be nice and not present the risk I mentioned above I beleive 🙂

 

[Paul_H]

thanks for your replies,

i will research into futures as these are something I am unsure off.

The big attraction for SB for me is that it is CGT excempt..

 

[JonnyT]

this question always comes up now and again! Unfortuantley not - they reason being (given to me by a senior dev at one of the larger outfits a few months ago) is that while there may be an incentive for them in terms of increased volume of trades (hence spreads being paid) there is a huge risk they get totally done over by any automated system since their is an issue of the "quality" of their prices on certain instruments

What you are seeing instead and will continue to see is increase in the functionality they offer e.g contingent orders which CS just introduced and IG have already had for a few months.

However a Market Data API might be nice and not present the risk I mentioned above I beleive 🙂

Bullsh1t from the SB companies.

They want to be able to refuse trades unlike a free market...

JonnyT

 

[jklondon]

if is just a case of wanting to refuse trades they could still release an API i.e. you submit a trade, they then check it (i.e evaluate the risk) then accept or reject...

on a slightly seperate note the IG listing offer prospectus has some interesting stuff in it on their business model and some worrying stuff..like the amount of money they make on interest from client accounts! Have to check it but I beleive it was around £1M over a 6 month period.

 

[Tuffty]

jklondon, I didn't register for the 'Client Offer' so I can't find a pdf of the prospectus anywhere. Do you have a link for it?
Cheers, Tuffty

 

[Robertral]

if is just a case of wanting to refuse trades they could still release an API i.e. you submit a trade, they then check it (i.e evaluate the risk) then accept or reject...

on a slightly seperate note the IG listing offer prospectus has some interesting stuff in it on their business model and some worrying stuff..like the amount of money they make on interest from client accounts! Have to check it but I beleive it was around £1M over a 6 month period.

read it again...fine they make interest on client monmey but they pay out much much more on existing debts......

 

[jklondon]

read it again...fine they make interest on client monmey but they pay out much much more on existing debts......

the point was related to the interest they earn on client money - the debts are a result of actions they have taken, the point is only put money into the AC that you are activley "using" for trading..

Tuffy - ill dig it out and post it here in a bit.

 

[Tuffty]

Thanks jk, much appreciated.

One of the papers over the week end had worked out from the prospectus that their average client looses £2,500 per year.

 

[jklondon]

Tuffy (and all) here you go

 

[Tuffty]

Thanks jk,

We'll have no more complaints about IG then as this is what they say about their market position...

"This leading position is also attributable to the Group’s focus on excellent client service, speed and quality of execution......."

When one has to explain how their own products work to their help desk staff I personally wouldn't call that excellent client service!!