Liquidity in a high end trading environment

Hello!

I am just curious. Does anyone trades on really high end currency trading platform like EBS or Reuters Dealing 3000 http://about.reuters.com/productinfo/images/clear.gifor something similar. Just how big and liquid are markets seen through those platforms. Regular retail forex platform dont allow to see market depth at all (like Nasdaq Level II.) I think with EBS or Reuters platform its possible to see also Level II for currency markets.

According to EBS press release (NB! PDF file) "USD 145 billion in spot foreign exchange is traded over the EBS Spot Dealing System in more than 40 countries each day."

This volume is HUGE!

I only got the opportunity to see market depth through ECN brokers IB and MBT platforms. Both brokers are minor brokers as it seems to me, because i virtually never have seen liquidity greater than 10 000 000 base currency units on Bid and Ask same time (during normal trading conditions). Thats only 100 standard lot´s during normal trading conditions. Well, i belive EBS and Reuters platforms can provide trader with greater liquidity.

So, if anybody had ever chance to see markets through EBS or Ruters platform i would be grateful to hear more information about liquidity for those major crosses: EUR/USD, GBP/USD, USD/CHF, USD/JPY. How big is the amount in standard lots´s i can trade without affecting price significantly. How big are orders on Bid and on Ask side (in standard lot´s)?

Thanks,
sorry for my poor english

I mate it extreamly large but once you doing and trade lot size over 5mil you don't have to show your full amount.. So someone could really have an oder on for 20mil but it showing up for 5mil (iecberg) but i see trades going trades going thew all day at 50mil a clip like it nothing.

turbo

Yes, i can totally understand you Turbokaos. It is mindless to show orders like Buy 1 000 lots GBP/USD (100M). I am familiar with icebergs and hidden orders etc.

But still. Even the viewable not hidden liquidity must be significantly higher than 10 000 000 waht i saw through IB and MBT platforms.

According to EBS prime introduction 19 big banks are creating liquidity (ABN Amro, Banque AIG, Bank of America, The Bank of Tokyo-mitsubishi UFJ, Ltd., Barclays Capital, Bear Sterns, Calyon, Citigroup, Credit Suisse, Deutsche bank, Dresdner Kleinwort, HSBC, JPMorgan, Lehman Brothers, Rabobank, RBS, SEB, Standard Chartered, Société Générale). They are all big names and big market makers. Even if they all keep on bid and ask side only orders amount to 10 lots (1MIO) there must be liquidity up to 20 MIO. Any given time during normal trading condition. Plus other traders plus minor market makers. I believe liquidity is at least 50 MIO...100 MIO.

So is there anybody who has more information. I would be grateful to hear more information. Thaks!

I frequently have 25-75mio avaliable at each pip on currenex. My guess is that EBS would have significantly more then that due to the nature of the transactions conducted through it.

Thanks for your reply Darkstar, I appreciate that. I forgot Currenex

May i ask you to post a screenshot of that liquidity in your tradingplatform market depth window. Maybe for GBP/USD cross during regular trading on european (preferably) or american session. A picture can say more than 1000 words. Thanks

Hi, have a look at dukascopy.(commercial, first three letters) for an idea of available volume. It's about 60% of EBS in daily trading volume.

Mate is EBS is just software no more than Currenex.

If fact you have:
Currenex
FXall
EBS
Lava
Baxter-FX
eSpeed

Just to name a few at the end of the it realy about how many banks does your Prime or 2nd teir Prime broker using

The prime broker may offer currenex but only have six banks feeding threw it where another prime broker my be feeding w/ 25 banks

hope this helps

1 = 1mil
.5 = 500,000

Thanks for replying Ablg and Turbokaos.

Turbokaos, which top tier bank offers biggest liquidity and how big the liquidity is (In general. Not in news time when liquidity is narrower. I mean regular trading time).

Hey thank you for that screen shot. Although it is littlebit small. But thanks anyway.

Edit: Is Quantity on that picture in standard lot´s?

Unless you plan on starting w/ a few million information w/ out action is useless...

If you like you can PM or IM and I'll will be happy to point in the right direction.

turbo

1 lot = 1mil

IM???? What does this acronym describes?

Great Thread...Thanks For Sharing!

In this context, it stands for Instant Message.

For other meanings, http://www.google.com/search?hl=en&q=define%3Aim