Software Platform for quant development and trading?

(Last Updated On: December 6, 2011)

Software Platform for quant development and trading?


I am looking for a platform that can unify multiple brokerages (interactive brokers, speed trader, etc), allow auto trading, cover back testing strategies, allow the addition of proprietary algorithms (c++ or Java is fine), and have the ability to do some of the book keeping functions as well. This will be for a small start up hedge fund. Would our prime brokerage be able to cover all of those needs, or would a 3rd party provide a better alternative? Recommendations for both? I have enough experience in programming to know that it will take hundreds of hours to build something like this from scratch. My hope is that there is something out there that will cover all of our needs. I also believe that we will need to occasionally hire a professional accountant, but I have not begun to look into that yet. If you have any recommendations in the software/accounting area please let me know.

NinjaTrader will work over a number of different brokerages including IB. You don’t need to reinvent the wheel and write this type of software from scratch as there are many good solutions that can be tailored to your specific needs.

Normally your prime broker would cover some of this and will certainly have recommendations of their own.

If you do a search for hedge fund accounting software you will see many different software packages available.

If you need any more information pm me and I will try to answer your specific questions.

You have a number of alternatives and solutions at several price points. What you are looking for are Independant Software Providers, or, ISVs.

At the low end of the spectrum are packages like eSignal (which employs a proprietary java script like language) for about $200 per month and MultiCharts (Easy Language like script) which can be purchased out right for a few hundred dollars.

In the middle of the pack you can choose Patsystems, Ran Order and many others.

At the high end are CQG, Trading Technologies and others depending upon your specifications. Both of these platforms offer professional and robust trading applications such as an autospreader but I encourage you to carefully define what you are looking for before you become involved with the higher end platforms. These platforms are can get expensive as they start around $1000 per month (per license) and can easily exceed $1500, however, the most expensive (and time consuming) aspect of jumping into bed with any high end ISV is switching costs.

TT probably remains the most popular front end for professionals in the Chicago trading community.

Free open source – Tradelink. You easily program strategies in C#, and tie-in to almost any broker. For accounting, you could easily export fills to another package, or write your own. You have total control on what you want to do, without too much effort.

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!

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