FX Data

[splitty]

Hi. I want to look at GBPUSD charts and am finding some anomalies.

My broker uses Reuters and Bloomberg feeds for prices and shows the high yesterday at 17:52 (UK time) 2.0402

If I have a chart of GBP A0-FX I have a high of 2.0401 but it's very spikey

If I have a chart of GBP@FXCM A0-FX I have a high of 2.0399. This is a much smoother, usable chart, but 3 pips off the other data feeds.

I can't see Reuters or Bloomberg as price feeds, are they there??

I can't find many feeds for GBP at all from the list of contributors. Is there one thats a closer match to Reuters or Bloomberg ?

Thanks

[demarcog]

Re: GBPUSD Data Problem

Originally posted by splitty
Hi. I want to look at GBPUSD charts and am finding some anomalies.

My broker uses Reuters and Bloomberg feeds for prices and shows the high yesterday at 17:52 (UK time) 2.0402

If I have a chart of GBP A0-FX I have a high of 2.0401 but it's very spikey

If I have a chart of GBP@FXCM A0-FX I have a high of 2.0399. This is a much smoother, usable chart, but 3 pips off the other data feeds.

I can't see Reuters or Bloomberg as price feeds, are they there??

I can't find many feeds for GBP at all from the list of contributors. Is there one thats a closer match to Reuters or Bloomberg ?

Thanks

Splitty,

When you specify GBP A0-FX you are actually seeing the consolidated bid prices for several hundred possible commerical bank contributors which make up the eSignal GTIS Forex price feed. As you noticed prices are all over the place and not really reflective of the "real market".

FXCM doesn't charge "commission" but rather maintains a fixed 5 pip spread for GBP which is why you see the 3 pip difference from the "real" market reported by Bloomberg etc.

I was unaware that Bloomberg made markets in currencies and thought they simply reported the current price from some data feed GTIS or some other feed.

Unfortunately because there is no "exchange" or reporting of actual trades in FOREX, the data is what it is, I use FXCM as I've traded through them and know the price is real. The best you can do if you use GBP@FXCM A0-FX is to know you will get a few pips better then reported minus fees.

You could also try HOTSPOT or another contributor with a tighter spread (if one exists).

Hope this helps,

Glen

[splitty]

Thanks

Thanks. I'll give them a try