Many investors and traders consider that algorithmic trading is unattainable by everyone whose not behind a Wall Street dealing desk. While that may have been true 20 years ago, but with the widespread use of ECNs, online trading platforms, and the prevalence of data, any investor can take advantage of algorithmic trading tools.
There are countless resources and tutorials that you can find online that can help you get started on your algorithmic trading journey. In fact, we even made a short guide that details the process of building your first algorithmic system. While it’s easy for anyone to get started building an algorithm by themselves, it’s not a simple challenge. Developing an algorithm takes a lot of time, and not everyone is able to dedicate themselves to the learning process, and many quit out of frustration. That’s why so many people turn to professionals to develop their ideas for them.
That’s exactly what we do, create tailor-made trading systems and algorithms for both institutional and retail clients. We don’t just try to realize strategies, we aim to build long-lasting systems that are modular and fully parameterized.
The Cost
We don’t just bring the engineering talent, every development team at Remi includes a strategist – someone with real-world experience trading the markets at an institutional level. Not only do we offer technological support, but our strategists will discuss the idea behind your project with you at length so that we know how to develop the project to the fullest extent.
We built a way for you to approximate the full cost of your algorithmic trading project. In just five questions you can determine the approximate cost of your trading system.
Just click the button above and get an instant estimate. If you want a detailed quote just fill out the form at the end of the estimate, and we’ll get in touch to discuss your idea at length.
The 3 Biggest Cost Drivers
Our clients often ask us what is the biggest driver of costs in algorithm development. We always try to work with you in a way that you understand exactly what goes into realizing your project, and the steps we can take to minimize costs, and increase longevity.
Accountability and Testing
When it comes to fully automated trading systems, no part of the deliverable is ever sent to you unless it has been tested and audited. Our clients put their faith in us, and it is our job to make sure that your algorithm trades exactly how you intend it to. Mistakes in algorithmic trading are costly, and to avoid them we conduct internal audits and vigorous testing. The more automation, the more testing has to be done.
Graphic User Interfaces
When people think of algorithms they think of code, but how does an average user interact with a trading algorithm?
In most cases, we work within the framework of a client’s broker or trading platform. This means that parameters can be manipulated by the user through an existing software or webpage. However, sometimes algorithms have to be built outside the scope of the framework and become standalone softwares that connect to liquidity providers or brokers for order execution. We generally give our clients three options in this case:
- Command-Line: (like Apple’s Terminal or Microsoft’s CommandPrompt). This is the cheapest option but requires an understanding of basic in-line codes.
- Barebones Interface: It won’t be pretty, but it will give you control over your software’s inputs in a way that you may be more familiar with.
- Full Graphic User Interface: For users that want a streamlined experience we offer control through a full graphic user interface.
Uncertainty
As part of our customer onboarding process, we sit down with you to discuss your expectations and software requirements. This information is appended to our development agreement as part of the Product Specification. However, some of our clients want more flexibility. Often it is because you may have an idea, but you’re uncertain of whether it will work the way you want it to, and you want to work with someone that will help you research it. In those cases, we elect to develop your algorithm on a proof-of-concept basis, which means we try to do the bare minimum to give you results early, while not knowing what we will do next. This often drives costs because we are unable to estimate the development time horizon, with requirements and specifications often changing on a weekly basis.
While Label Solutions / Commercial Use / Licensing
When we develop products for personal use, we optimize them to fit your personal expectations, environment, and computational resources. However, when developing a commercial product, we must take into account a lot more factors that contribute to user experience, cross-platform compatibility, licensing, and data. Regardless of whether it’s your name or our name on the product, we need to ensure that it functions as intended for all users.
It’s an Investment
Your trading algorithm isn’t simply a tool, it’s an investment in your personal finance and investment ambitions. This is why it’s important to approach it seriously, and with some preparation. While we are prepared to guide you through every step of the way, we find that things go smoothest when you know exactly what you want, and provide us with as much information as possible.
Start by going through the quote calculator, and see which areas bring about the most questions for you. Consider taking a look at some of our other blog posts, and start listing the requirements of your project, and take a look at our frequently asked questions.
If you have any questions or would like to get in touch, just use the contact form below, or the one at the end of our new calculator.