Imported from previous forum
[ original email was from Andrew Freese - afreese@aviatorfund.com ]
Hi All-
We are a small U.S. buy-side firm looking to trade stocks, options, and futures on the KSE.
We have little formal electronic trading infrastructure in place, and we have a very aggressive timeframe to get trading.
We are currently researching from the Buy v. Build perspective, trying to determine what would be the correct mix for us at this time.
*** Any guidance to that end would be greatly appreciated!
thanks!
Andrew Freese
afreese@aviatorfund.com
(212) 471-3968
[ original email was from Grace Lin - grace.lin@gs.com ]
Andrew,
For your vendor shopping, local/regional Asian vendors have limited routing platforms and they all tend to only provide access to their local markets in their local language. So you’ll probably end up with a global vendor who has Asian capabilities so you’ll be looking at higher costs.
If you need to start trade soon, you may need to pay up to a vendor to get the front-end as well as connectivity to KSE executing brokers. If you have a little more time, then it’s more sensible to buy a FIX engine and build the trading functionality yourself.
Hope this helps…
Grace
> Hi All-
> We are a small U.S. buy-side firm looking to trade stocks, options, and futures on the KSE.
>
> We have little formal electronic trading infrastructure in place, and we have a very aggressive timeframe to get trading.
>
> We are currently researching from the Buy v. Build perspective, trying to determine what would be the correct mix for us at this time.
>
> *** Any guidance to that end would be greatly appreciated!
>
>
> thanks!
> Andrew Freese
> afreese@aviatorfund.com
> (212) 471-3968
>
>
Dear Andrew,
There are many global brokers that offer STP for Korean instruments. In such cases, these brokers would have taken care of complexity on local exchange connectivity; and all you need is a FIX gateway for your order management system. One of the preferred way to build this FIX gateway is to talk to a FIX engine vendors whom will 1) sell you a off-the-shelf FIX engine; 2) may do the OMS/FIX integration.
On the other, if you want to connect directly to KSE, then there are a no. of issues:
- You need to be a member of KSE to trade there
- A good portion of these systems are provided by KOSCOM which provides mostly proprietory systems for local use.
- Legal and compliance issues that you may problems trading direclty off-shore from the US.
Let me know if you have more questions.
Simon Leung
Citigroup Global Markets Asia Ltd.
simon.leung@citigroup.com
> Andrew,
>
> For your vendor shopping, local/regional Asian vendors have limited routing platforms and they all tend to only provide access to their local markets in their local language. So you’ll probably end up with a global vendor who has Asian capabilities so you’ll be looking at higher costs.
>
> If you need to start trade soon, you may need to pay up to a vendor to get the front-end as well as connectivity to KSE executing brokers. If you have a little more time, then it’s more sensible to buy a FIX engine and build the trading functionality yourself.
>
> Hope this helps…
>
> Grace
>
>
> > Hi All-
> > We are a small U.S. buy-side firm looking to trade stocks, options, and futures on the KSE.
> >
> > We have little formal electronic trading infrastructure in place, and we have a very aggressive timeframe to get trading.
> >
> > We are currently researching from the Buy v. Build perspective, trying to determine what would be the correct mix for us at this time.
> >
> > *** Any guidance to that end would be greatly appreciated!
> >
> >
> > thanks!
> > Andrew Freese
> > afreese@aviatorfund.com
> > (212) 471-3968
> >
> >
>