How to reduce rejections while covering clients with another liquidity provider using the VertexFX Bridge system?
Posted by Mohammad Rahhal, Last modified by Mohammad Rahhal on 28 February 2012 04:15 PM

To reduce rejections while covering clients with another liquidity provider using the VertexFx Bridge system (assuming you are not using Slippage option in RMB bridge settings otherwise in case you are using the slippage there would be no rejections at all), check the following points:

  • Your client's spread should be larger than your liquidity provider account's spread.
     
  • We advise you to connect your system to your liquidity provider data feed, just to be sure that your price is the same with your liquidity provider feed, "Contact your liquidity provider and ask them to give their data feed connection info, all you need to is get his VertexFX currency server IP, port, username and password for VertexFX currency server application", or you can configure VertexFX DDE Client at your server side using the Vertex LP given account.
     
  • The calculation of the spread should be like your liquidity provider spread calculation. The spread calculation:

1. "From Average" <--> "From Average"

2. or "From Bid" <--> "From Bid"

3. We also advise you to ask the liquidity provider what did he set this option.

  • We recommend you make your re-quotable option for each symbol in your system to be NOT re-quotable. Because if your Liquidity Provider made it as re-quotable and he re-quoted a position for you, the bridge will reject your client's position directly. In other words, if that symbol was made as NOT re-quotable at the LP side and he accepted that position with a slippage (different price) without re-quoting (NOT re-quotable symbol), then your system should also do that slippage for the client and should not re-quote the price as well. However, if the LP configures this Symbol as re-quotable and he re-quoted that order (tried to accept it with slippage), bridge will not accept that order and will reject it, so rejection will be due to not being accepted at LP side.
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