Takeprofit Market Depth MT5 Gateway creates a depth of market for trading instruments and confirms the execution of traders’ deals without sending them to liquidity providers.
How Does the MT5 Gateway Work?
- The solution connects to third party datafeed via Unifeed protocol to receive quotes for symbols mentioned in the gateway configuration.
- It is not possible to get the depth of the market via Unifeed, so the gateway receives only top of the book prices.
- After receiving top of the book prices, the gateway creates layers of the depth, according to the rules and sends generated prices to MT5 server.
- Trades opened on the MT5 server are passed to the Takeprofit Market Depth Gateway according to routing rules.
- The MT5 gateway receives trade requests and confirms the trade by the volume-weighted average price in B-book. There is no STP here.
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